1PM PLC Issue of Equity and Trading Update (1326H)
June 17 2013 - 2:00AM
UK Regulatory
TIDMOPM
RNS Number : 1326H
1PM PLC
17 June 2013
17 June 2013
1PM PLC
(AIM: OPM)
GBP1.5million Institutional Equity Investment and
Pre-close Trading Update
Strong trading momentum maintained throughout second half
1pm plc (the "Company")(AIM: OPM), the AIM listed specialist
independent provider of asset finance facilities to the SME sector,
is pleased to announcement that it has raised GBP1,500,000 through
the issue of 1,000,000,000 new ordinary shares at a price of 0.015
pence per share to Henderson Global Investors. The monies raised
will provide additional working capital and lending facilities to
the Company.
The Company is also pleased to issue the following trading
update ahead of the announcement of its final results for the year
ended 31 May 2013 which will be released by 16(th) July 2013.
Results for the full year ended 31 May 2013 will demonstrate
another year of strong organic growth with profits before tax set
to exceed GBP750,000 which is above current market expectations.
The financial year has seen record levels of new business written
of GBP7.8m (FY12: GBP4.96m), with sales during the final month of
May totalling approximately GBP920,000, the highest monthly figure
achieved by the Company to date. The lease portfolio likewise has
grown significantly and as at 31 May 2013, stood at GBP14.8m (FY12:
GBP11m) an increase of 35 per cent. over the course of the
year.
Maria Hampton, CEO of 1pm, commented:
"We are delighted to have secured the investment from Henderson,
a leading institutional investor. We believe Henderson's investment
in 1pm is a strong endorsement of what we have achieved to date and
of our future prospects. On the trading front, we are very pleased
with the progress made by the Company over the past 12 months,
especially finishing the year with record sales. The significant
increase in new business written not only reflects the continuing
financial needs of UK SME's but also 1pm's growing reputation
within the asset finance sector throughout the UK ."
Dealing and share capital
Application has been made for the 1,000,000,000 new ordinary
shares to be admitted to trading on AIM. Dealings are expected to
commence on 20 June 2013.
In accordance with the provisions of the Disclosure and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following this issue, its issued share capital will
comprise 4,395,618,769 Ordinary Shares of approximately 0.06818p
each. All of the Ordinary Shares have equal voting rights and none
of the Ordinary Shares are held in Treasury. The total number of
voting rights in the Company is therefore 4,395,618,769.
This 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
share capital of the Company under the Disclosure and Transparency
Rules.
For further information, please
contact:
1pm plc
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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