1PM PLC New Funding Line (2861A)

TIDMOPM

RNS Number : 2861A

1PM PLC

19 March 2013

1PM PLC

(AIM: OPM)

New Loan Note Programme

1pm plc ("1pm" or "the Company"), the AIM listed specialist independent provider of lease asset finance to the SME sector, is pleased to announce that it has agreed a new loan note programme. Lesmoir-Gordon, Boyle & Co. Limited has arranged this programme and is introducing investors to it.

It is intended that each tranche of the programme will be for a minimum of GBP250,000 and made available every quarter, on an indefinite basis. The funds will be used exclusively for the purpose of writing new lease contracts.

The first tranche of GBP320,000 has been made available to 1pm; loan terms are consistent with those of other funders to the Group.

Maria Hampton, CEO of 1pm, commented:

"We see this as a significant opportunity for 1pm and look forward to working with Lesmoir-Gordon, Boyle & Co. Limited; we are delighted to have their support."

 
 
   For further information, please 
   contact: 
 
 1pm plc 
 Mike Johnson, Chairman                             0844 967 0944 
 Maria Hampton, CEO                                 0844 967 0944 
 
 WH Ireland (NOMAD) 
 Mike Coe                                           0117 945 3470 
 
 Winningtons Financial PR                           0117 985 8989 
 Paul Vann                                           07768 807631 
                                      paul.vann@winningtons.co.uk

About 1pm:

1pm plc is an established independent asset finance company focused on providing SMEs with accessible funding to add value to their businesses. All customers must have good credit histories and proven ability to repay their finance commitments. 1pm currently lends from GBP1,000 to GBP50,000 for a period of between 12 and 60 months. The Company was admitted to AIM in August 2006.

You can find more information on the Company website www.1pm.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCSFFFWAFDSEID

Time Finance (LSE:TIME)
Historical Stock Chart
From Jun 2024 to Jul 2024