1PM PLC Increase in Loan Facilities (9424E)

TIDMOPM

RNS Number : 9424E

1PM PLC

17 May 2013

1PM PLC

(AIM: OPM)

Increase to two Block Discounting Facilities

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 successfully negotiated increases to two of its Block Discounting Facilities, totalling GBP1.25m. These additional funds will be used exclusively for the purpose of writing new lease contracts.

Maria Hampton, CEO of 1pm, commented:

"The need for this additional funding has been driven by increasing customer demand. It also reflects the hard work, dedication and growing reputation within our industry of the 1pm team, who have been instrumental in making the Company continuously profitable over the last three years.

"These increased facilities, together with our other existing credit lines will enable us to continue our support for SMEs within the UK economy, whose own ability to expand has been hindered over recent years due to a lack of credit via the mainstream UK banking industry".

 
 
   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.

Mission Statement - 'Helping the UK economy grow by supporting SMEs'

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

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