1PM PLC New Funding Line (0047L)

TIDMOPM

RNS Number : 0047L

1PM PLC

06 August 2013

6 August 2013

1PM PLC

(AIM: OPM)

New GBP1.5million Block Discounting Facility

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 negotiated a new Block Discounting Facility totalling GBP1.5million. This additional funding will be used exclusively for the purpose of writing new business.

The loan terms are consistent with those of other funders to the Group.

The Group also announces that it has received a further GBP270,000 from its quarterly loan programme with Lesmoir-Gordon, Boyle & Co. Limited, set up in March 2013. This is the second quarterly tranche, making aggregate loans to date of GBP0.59million.

Maria Hampton, CEO of 1pm, commented:

"The new block discounting facility will give the Group additional capacity to further its growth and to satisfy the continuing demand for finance from the SME sector. It also demonstrates the growing reputation the Group enjoys within the marketplace as an independent, flexible provider of lease asset finance."

 
 
   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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