RNS Number : 0210B
  1PM PLC
  11 August 2008
   

    OPM.L

    1 pm plc

    ("1pm" or the "Company")

    Successful Placing to Underpin Business Growth

    1pm, a provider of asset finance facilities to the small business community, announces that it has completed a placing of 328,250,000
fully paid ordinary shares of �0.0006818 each ("Placing Shares") at a price of 0.2 pence per Placing Share ("Placing Price") raising
�656,500 before costs and expenses ("Placing").

The Placing Shares will rank pari passu with all existing fully paid Ordinary Shares of �0.0006818 each in the Company ("Ordinary Shares").
Application has been made for the Placing Shares to be admitted to trading on AIM with trading expected to commence on 14 August 2008. The
funds raised under the Placing will increase the Company's funding facilities which will enable the business to increase its market share,
build its client base and accelerate growth.

    Mike Johnson, 1pm's Chairman commented:-

    "A successful Placing in the current markets underpins the strength of 1pm's business proposition. We have successfully turned the
business around under new management sanitized the business model and returned it to profitability with excellent future prospects. Access
to new funds will now enable the group to scale up its business and continue its growth momentum as a small business asset finance provider.
I look forward to reporting further progress in due course." 
    The following table sets out details of the placees who purchased Placing Shares, at the Placing Price, and who will have an interest in
the Ordinary Shares which must be disclosed under the Financial Services Authority's Disclosure and Transparency Rules.

 Name                            Number of Ordinary    Percentage of         Number of Placing     Number of Ordinary    Percentage of
                                 Shares held prior to  Ordinary Shares held  Shares purchased      Shares held           Ordinary Shares
held
                                 the Placing           prior to the Placing                        following the         following the
                                                       (%)                                         Placing               Placing (%)
 Hoodless Brennan Plc            31,282                0.007                 100,000,000           100,031,282           13.05
 Wills & Co. Stockbrokers        2                     0                     50,000,000            50,000,002            6.52
 Limited
 SVS Securities Plc              2,678,626             0.611                 73,890,950            76,569,576            9.99
 Ron Russell                     7,500,000             1.711                 75,109,050            82,609,050            10.78
    

    Following the successful Placing the directors will have the following holdings:-

 Name            Number of Ordinary    Percentage of         Percentage of
                 Shares held prior to  Ordinary Shares held  Ordinary Shares held
                 and following the     prior to the Placing  following the
                 Placing               (%)                   Placing (%)
 Mike Johnson    40,000,000            9.13                  5.22
 Paul Connell    40,000,000            9.13                  5.22
 Rodney Channon  40,000,000            9.13                  5.22
    

    In addition, the Placing will have the following effect on the shareholding of John Stickley:-

 Name           Number of Ordinary    Percentage of         Percentage of
                Shares held prior to  Ordinary Shares held  Ordinary Shares held
                and following the     prior to the Placing  following the
                Placing               (%)                   Placing (%)
 John Stickley  36,666,667            8.37                  4.78
    

    For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in issue
on the date of admission to trading of the Placing Shares will be 766,462,229 with each share holding one voting right.  There are no
Ordinary Shares held in treasury.
    The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules. 

    Enquiries:

 Mike Johnson, Chairman 1pm plc                             08707 397 397
                                                             
 Ian Callaway, SVS Securities plc                           020 7638 5600
                                                             
 Nick Harriss / Emily Morgan, Blomfield Corporate Finance   020 7489 4500
  
 Shane Dolan, Biddicks                                      020 7448 1000


This information is provided by RNS
The company news service from the London Stock Exchange
 
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