Time Finance PLC Vesting of Option Awards

RNS Number : 9028G

Time Finance PLC

04 October 2024

Time Finance plc

("Time Finance", the "Group" or the "Company")

Unapproved Share Option Scheme - Vesting of Option Awards

Time Finance plc, the AIM listed independent specialist finance provider, announces the vesting of an ag-gregate of 611,666 historically awarded share options following the achievement of profit-based performance criteria in relation to the Company's 2022 Unapproved Share Option Scheme (the "2022 Scheme").

The terms of the 2022 Scheme were previously announced by the Group on 22 July 2022. It remains the Board's strong intention that existing ordinary shares held by the Company's Employee Benefit Trust will be utilised to meet any future exercise of these vested options and also of any further 2022 Scheme options that could vest in the future. The vested options are all held by the below Directors/PDMRs of the Company in the amounts below and may be exercised at nil-cost at any time prior to the exercise expiry date.

Name	Position	Number of Vested Options	Exercise Expiry
Ed Rimmer	CEO	411,667	30 September 2028
Steve Nichols	PDMR	100,000	30 September 2028
Sharon Bryden	PDMR	100,000	30 September 2028

There remain a further unvested 611,667 share options previously granted under the 2022 Scheme. Sub-ject to the recipients' continued employment with the Group and the achievement of stretching profit targets for the current financial year, the remaining unvested 2022 Scheme options would vest in October 2025.

The notifications below, provided in accordance with the requirements of the UK Market Abuse Regula-tion, provide further details.

For further information, please contact:

Time Finance plc
Ed Rimmer, Chief Executive Officer	01225 474230
James Roberts, Chief Financial Officer	01225 474230

Cavendish Capital Markets (NOMAD and Broker)	0207 220 0500
Ben Jeynes / Dan Hodkinson (Corporate Finance) Michael Johnson / George Budd / Charlie Combe (Sales and ECM)

Walbrook PR	0207 933 8780
Nick Rome / Joe Walker	Timefinance@walbrookpr.com

About Time Finance:

Time Finance's purpose is to help UK businesses thrive and survive through the provision of flexible funding facilities. It offers a multi-product range for SMEs concentrating on Asset, Loan and Invoice Finance. While focussed on being an 'own-book' lender, the Group does retain the ability to broke-on deals where appro-priate, enabling it to optimize business levels through market and economic cycles. More information is available on the Company website: www.timefinance.com.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

Details of the person discharging managerial responsibilities / person closely associated

Name

1. Ed Rimmer

2. Steve Nichols

3. Sharon Brydon

Reason for the notification

Position/status

1. Chief Executive Officer

2. PDMR

3. PDMR

Initial notification /Amendment

Initial notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

Time Finance plc

LEI

213800VG3QJGBP2MKR86

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

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 10p each

ISIN: GB00BCDBXK43

Nature of the transaction

Vesting of awards under 2022 Unapproved Share Option Scheme

Price(s) and volume(s)

Price(s)

Volume(s)

1. Nil

2. Nil

3. Nil

1. 411,667

2. 100,000

3. 100,000

Aggregated information

- Aggregated volume

- Price

N/A Single transactions

Date of the transaction

3 October 2024

Place of the transaction

Outside of a trading venue

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