Private & Commercial Fin Group Plc Directorate Change (2525R)

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RNS Number : 2525R

Private & Commercial Fin Group Plc

08 December 2016

8 December 2016

Private & Commercial Finance Group plc

("PCFG", the "Company" or the "Group")

Directorate Change

PCFG, the AIM quoted finance house, announces that following the announcement today of the preliminary results for the Group, David Anthony is stepping down as Non-Executive Chairman and as a director of the Company. Mr Anthony has been a Non-Executive Director of PCFG since July 2011 and Chairman since September 2011.

Mr Anthony has been integral to the success of the Group, which is reflected in the Preliminary results for the period to 30 September 2016 announced this morning. He meticulously oversaw the year-on-year strengthening of the Group's balance sheet and growth in profitability following the 2008 global financial crisis. The Board would like to place on record its appreciation of the contribution David has made to the Group and we wish him well in the future.

Mr Anthony will be succeeded by Mr Tim Franklin as Chairman of the Board.

Scott Maybury, CEO, commented: "I would like to personally thank David for his immensely valuable contribution over many years. I am extremely grateful for his support in guiding the Group to the successful business we see today and I look forward to working with Tim as we embark on the next stage of the Group's strategy."

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For further information, please contact:

 
 Private & Commercial Finance             Tel: +44 (0) 
  Group                                    20 7222 2426 
  Scott Maybury, Chief Executive 
  Officer 
  Robert Murray, Managing Director 
  David Bull, Finance Director 
 Tavistock Communications                 Tel: +44 (0) 
  Jos Simson / Niall Walsh                 20 7920 3150 
 Panmure Gordon (UK) Limited              Tel: +44 (0) 
  Atholl Tweedie / Adam James              20 7886 2500 
  / Peter Steel - Corporate Finance 
  Charles Leigh-Pemberton - Corporate 
  Broking 
 

About Private & Commercial Finance Group plc (www.pcfg.co.uk)

Established in 1994, Private & Commercial Finance Group plc is an AIM-quoted finance house which has two main operating divisions:

   --      Consumer Finance which provides finance for motor vehicles to consumers; and 
   --      Business Finance which provides finance for vehicles, plant and equipment to SMEs. 

The Group has a highly efficient and scalable business model, utilising its specially developed internet-based proposal system to service national networks of brokers and suppliers.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 08, 2016 02:00 ET (07:00 GMT)