Share Name Share Symbol Market Type Share ISIN Share Description
1pm Plc LSE:OPM London Ordinary Share GB00BCDBXK43 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.75p -2.52% 29.00p 28.50p 29.50p 29.75p 28.65p 29.75p 1,198,749 14:55:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 30.0 7.9 7.6 3.8 25

1PM PLC Completion of Acquisition & Director/PDMR Dealings

08/06/2017 8:20am

UK Regulatory (RNS & others)


1pm (LSE:OPM)
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TIDMOPM

RNS Number : 5236H

1PM PLC

08 June 2017

8 June 2017

1pm plc

(the "Group" or the "Company")

Completion of Tracx Finance Limited acquisition,

Directorate change

and

Director/PDMR dealings

Further to the announcements on 18 May 2017 and 7 June 2017, 1pm plc is pleased to announce that, following admission to trading on AIM of the 28,861,117 New Ordinary Shares this morning, the acquisition of Tracx Finance Limited has now completed. Tracx Finance Limited is the holding company and 100% shareholder of its trading subsidiary Gener8 Finance Limited. The Board is pleased to welcome the Gener8 team to the Group and is excited by the prospects of the Group's newly established Commercial Finance Division.

Following the completion of the Acquisition, Edward Rimmer is today appointed to the Board of the Company as the Managing Director of the Commercial Finance Division and CEO of Gener8 Finance Limited. Mr. Rimmer brings over 20 years' experience in commercial finance, most recently acting as UK CEO of Bibby Financial Services Limited. All information required under Schedule 2(g) of the AIM Rules in relation to Edward Rimmer's appointment was included in the Circular that was sent to shareholders on 18 May 2017.

The Company also announces that, following admission, the purchases of Ordinary Shares by certain existing Directors as part of the Placing, as announced on 18 May 2017, have now completed. Edward Rimmer purchased 33,000 Ordinary Shares as part of the Placing. In addition, Ron Russell subscribed for 128,906 shares in the Open Offer. Further information on these transactions is set out below.

The Company is pleased to report that, as noted in the Circular sent to shareholders on 18 May 2017, trading in the financial year to 31 May 2017 was in line with market expectations.

Commenting on the completion of the acquisition, placing and oversubscribed Open Offer, 1pm Chief Executive Ian Smith said: "The successful fundraising to finance both the acquisition of Tracx Finance and the possible second acquisition, together with the establishment of our new Commercial Finance Division, under the leadership of Ed Rimmer, whom I am delighted to welcome to the Board, together represent important milestones in the ongoing growth and development of the Group. They demonstrate the implementation of a key element of the Group's stated strategic plan which is to continue to expand our offering to UK SMEs by adding adjacent financial products and services which are complementary to our existing Asset Finance and Business Loans portfolios and which also create significant cross-selling opportunities."

Capitalised terms used in this announcement have the meanings given to them in the Circular dated 18 May 2017.

 
 
   For further information, 
   please contact: 
 
 1pm plc 
 Ian Smith, Chief Executive 
  Officer                                   01225 474230 
 James Roberts, Chief 
  Financial Officer                         01225 474230 
 
 Cenkos (NOMAD) 
 Max Hartley, Harry 
  Pardoe (NOMAD), 
  Julian Morse (Sales)                     0207 397 8900 
 
 Walbrook PR                               0117 985 8989 
 Paul Vann                                  07768 807631 
                                paul.vann@walbrookpr.com 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                       John Newman 
---  -------------------------  ---------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status            Non-Executive Chairman 
---  -------------------------  ---------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  ---------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                       1pm plc 
---  -------------------------  ---------------------------- 
 b)   LEI                        N/a 
---  -------------------------  ---------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ------------------------------------------------------- 
 a)   Description of             Ordinary Shares of 10p each 
       the financial 
       instrument, type 
       of instrument 
 
       Identification 
       code 
---  -------------------------  ---------------------------- 
 b)   Nature of the              Purchase of Ordinary Shares 
       transaction 
---  -------------------------  ---------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    45p        55,500 
                                   ---------  ---------- 
---  -------------------------  ---------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume         55,500 Ordinary Shares 
 
 
       - Price                     45p per Ordinary Share 
---  -------------------------  ---------------------------- 
 e)   Date of the transaction    8 June 2017 
---  -------------------------  ---------------------------- 
 f)   Place of the transaction   N/a 
---  -------------------------  ---------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                       Ian Smith 
---  -------------------------  ---------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status            Chief Executive Officer 
---  -------------------------  ---------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  ---------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                       1pm plc 
---  -------------------------  ---------------------------- 
 b)   LEI                        N/a 
---  -------------------------  ---------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ------------------------------------------------------- 
 a)   Description of             Ordinary Shares of 10p each 
       the financial 
       instrument, type 
       of instrument 
 
       Identification 
       code 
---  -------------------------  ---------------------------- 
 b)   Nature of the              Purchase of Ordinary Shares 
       transaction 
---  -------------------------  ---------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    45p        55,500 
                                   ---------  ---------- 
---  -------------------------  ---------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume         55,500 Ordinary Shares 
 
 
       - Price                     45p per Ordinary Share 
---  -------------------------  ---------------------------- 
 e)   Date of the transaction    8 June 2017 
---  -------------------------  ---------------------------- 
 f)   Place of the transaction   N/a 
---  -------------------------  ---------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                       Mike Nolan 
---  -------------------------  ---------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status            Chief Risk Officer 
---  -------------------------  ---------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  ---------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                       1pm plc 
---  -------------------------  ---------------------------- 
 b)   LEI                        N/a 
---  -------------------------  ---------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ------------------------------------------------------- 
 a)   Description of             Ordinary Shares of 10p each 
       the financial 
       instrument, type 
       of instrument 
 
       Identification 
       code 
---  -------------------------  ---------------------------- 
 b)   Nature of the              Purchase of Ordinary Shares 
       transaction 
---  -------------------------  ---------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    45p        55,500 
                                   ---------  ---------- 
---  -------------------------  ---------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume         55,500 Ordinary Shares 
 
 
       - Price                     45p per Ordinary Share 
---  -------------------------  ---------------------------- 
 e)   Date of the transaction    8 June 2017 
---  -------------------------  ---------------------------- 
 f)   Place of the transaction   N/a 
---  -------------------------  ---------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                       James Roberts 
---  -------------------------  ---------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status            Chief Finance Officer 
---  -------------------------  ---------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  ---------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                       1pm plc 
---  -------------------------  ---------------------------- 
 b)   LEI                        N/a 
---  -------------------------  ---------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ------------------------------------------------------- 
 a)   Description of             Ordinary Shares of 10p each 
       the financial 
       instrument, type 
       of instrument 
 
       Identification 
       code 
---  -------------------------  ---------------------------- 
 b)   Nature of the              Purchase of Ordinary Shares 
       transaction 
---  -------------------------  ---------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    45p        22,000 
                                   ---------  ---------- 
---  -------------------------  ---------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume         22,000 Ordinary Shares 
 
 
       - Price                     45p per Ordinary Share 
---  -------------------------  ---------------------------- 
 e)   Date of the transaction    8 June 2017 
---  -------------------------  ---------------------------- 
 f)   Place of the transaction   N/a 
---  -------------------------  ---------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                       Julian Telling 
---  -------------------------  ---------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status            Non-Executive Officer 
---  -------------------------  ---------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  ---------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                       1pm plc 
---  -------------------------  ---------------------------- 
 b)   LEI                        N/a 
---  -------------------------  ---------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ------------------------------------------------------- 
 a)   Description of             Ordinary Shares of 10p each 
       the financial 
       instrument, type 
       of instrument 
 
       Identification 
       code 
---  -------------------------  ---------------------------- 
 b)   Nature of the              Purchase of Ordinary Shares 
       transaction 
---  -------------------------  ---------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    45p        55,500 
                                   ---------  ---------- 
---  -------------------------  ---------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume         55,500 Ordinary Shares 
 
 
       - Price                     45p per Ordinary Share 
---  -------------------------  ---------------------------- 
 e)   Date of the transaction    8 June 2017 
---  -------------------------  ---------------------------- 
 f)   Place of the transaction   N/a 
---  -------------------------  ---------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ---------------------------------------------------------- 
 a)   Name                       Edward Rimmer 
---  -------------------------  ------------------------------- 
 2    Reason for the notification 
---  ---------------------------------------------------------- 
 a)   Position/status            Managing Director - Commercial 
                                  Finance Division 
---  -------------------------  ------------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  ------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ---------------------------------------------------------- 
 a)   Name                       1pm plc 
---  -------------------------  ------------------------------- 
 b)   LEI                        N/a 
---  -------------------------  ------------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ---------------------------------------------------------- 
 a)   Description of             Ordinary Shares of 10p each 
       the financial 
       instrument, type 
       of instrument 
 
       Identification 
       code 
---  -------------------------  ------------------------------- 
 b)   Nature of the              Purchase of Ordinary Shares 
       transaction 
---  -------------------------  ------------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    45p        33,000 
                                   ---------  ---------- 
---  -------------------------  ------------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume         33,000 Ordinary Shares 
 
 
       - Price                     45p per Ordinary Share 
---  -------------------------  ------------------------------- 
 e)   Date of the transaction    8 June 2017 
---  -------------------------  ------------------------------- 
 f)   Place of the transaction   N/a 
---  -------------------------  ------------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                       Ron Russell 
---  -------------------------  ---------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status            Non-Executive Director 
---  -------------------------  ---------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  ---------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                       1pm plc 
---  -------------------------  ---------------------------- 
 b)   LEI                        N/a 
---  -------------------------  ---------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ------------------------------------------------------- 
 a)   Description of             Ordinary Shares of 10p each 
       the financial 
       instrument, type 
       of instrument 
 
       Identification 
       code 
---  -------------------------  ---------------------------- 
 b)   Nature of the              Purchase of Ordinary Shares 
       transaction 
---  -------------------------  ---------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    45p        128,906 
                                   ---------  ---------- 
---  -------------------------  ---------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume         128,906 Ordinary Shares 
 
 
       - Price                     45p per Ordinary Share 
---  -------------------------  ---------------------------- 
 e)   Date of the transaction    8 June 2017 
---  -------------------------  ---------------------------- 
 f)   Place of the transaction   N/a 
---  -------------------------  ---------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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