Increase in Block Discounting Facilities (6148E)
April 11 2011 - 2:00AM
UK Regulatory
TIDMOPM
RNS Number : 6148E
1PM PLC
11 April 2011
1PM PLC
(AIM: OPM)
Increase in Block Discounting Facilities
1pm plc ("1pm" or "the Company"), the specialist provider of
lease asset finance to the SME sector, is pleased to announce that
it has agreed a total increase of GBP500,000 with two of its
existing block discounting providers ("the BD Increase"). The BD
Increase will be exclusively used for the purpose of writing new
lease agreements.
Further to the half yearly results released in December 2010,
the Company confirms that the lease portfolio has continued to grow
above management's expectation. Block discount funding is an
important source of funding to the Company and the BD Increase will
provide additional capital to support further growth of the lease
portfolio
Contacts:
1pm plc www.1pm.co.uk
Mike Johnson, Chairman +44 (0) 844 967 0944
Maria Hampton, Managing Director +44 (0) 844 967 0944
WH Ireland Limited www.wh-ireland.co.uk
Mike Coe / Marc Davies +44 (0) 117 945 3470
About 1pm:
1pm plc is an established small ticket leasing company focused
on providing SMEs with an accessible funding pool. Customers must
have clear credit histories and an ability to pay their
commitments. Assets leased are business critical. 1pm typically
lends between GBP1,000 - GBP30,000 for between 12 and 60
months.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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