Private & Commercial Fin Group Plc Issue of Equity (5124E)

TIDMPCF TIDMTTM

RNS Number : 5124E

Private & Commercial Fin Group Plc

09 May 2017

9 May 2017

Private & Commercial Finance Group plc

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

Scrip Dividend Elections

Issue of Equity

The Company announces that, pursuant to the Scrip Dividend Scheme which was approved by shareholders at the Company's Annual General Meeting on 10(th) March 2017, it has received elections to receive new ordinary shares in lieu of cash in respect of the final dividend payment due on 16(th) May 2017. Election notices have been received from the holders of 25,262,710 ordinary shares of 5p each in the Company ("Ordinary Shares"), in aggregate, representing approximately 11.9% of the Ordinary Shares in issue on 18 April 2017. Accordingly, 95,676 new Ordinary Shares ("New Shares") will be issued in satisfaction of such elections at an equivalent price of 26.4 pence per share.

Application has been made for the New Shares to be admitted to trading on AIM and it is expected that admission will take place at 8.00 a.m. on 16(th) May 2017. The New Shares will rank pari passu with the existing Ordinary Shares.

Following admission of the New Shares to trading on AIM, the Company will have 212,219,778 Ordinary Shares in issue, none of which are held in treasury.

The above figure of 212,219,778 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure, Guidance and Transparency Rules.

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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 
  - Corporate Finance 
  Charles Leigh-Pemberton - Corporate 
  Broking 
 Stockdale Securities                     Tel: +44 (0) 
  Robert Finlay / Richard Johnson          20 7601 6100 
  - Corporate Finance 
  Henry Willcocks - Corporate 
  Broking 
 

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

Established in 1994, Private & Commercial Finance Group plc is an AIM-quoted specialist bank 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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May 09, 2017 02:00 ET (06:00 GMT)