1PM PLC Directorate Change and Trading Update (9904G)

TIDMOPM

RNS Number : 9904G

1PM PLC

26 November 2015

1pm plc

("1pm" or "the Company")

Directorate Change and Trading Update

1pm plc (AIM: OPM), the AIM listed independent specialist provider of finance facilities to the SME sector, announces the following directorate changes. With effect from 1 February 2016, Ian Smith, currently Chairman, will become Group CEO and John Newman, currently a non-executive director, will be appointed Chairman. These changes have arisen from a recent review undertaken by the non-executive directors of the Group's management and operating structure following the acquisition of Academy Leasing Limited ("Academy") by 1pm plc in August 2015.

Trading in the year to date at 1pm (UK) Limited and at Academy since acquisition has been in accordance with management expectations. The Company expects to make a more detailed trading update for the six month period ending on 30 November 2015 in mid-December.

John Newman, Non-executive director, commented:

"The Board, having considered the review by the non-executives, has unanimously agreed that it is important for the Group to have clear executive leadership from someone who can focus on corporate strategy and the further development of the Group. We believe that Ian, having successfully overseen the acquisition of Academy, is ideally placed to undertake this role."

 
 
   For further information, 
   please contact: 
 
 1pm plc 
 Ian Smith, Chairman                      0844 967 0944 
 John Newman, Non-executive 
  Director                                0844 967 0944 
 
 WH Ireland (NOMAD) 
 Mike Coe / Ed Allsopp                    0117 945 3470 
 
 Walbrook Public Relations                0117 985 8989 
 Paul Vann                                 07768 807631 
                               paul.vann@walbrookpr.com

About 1pm:

The Company was admitted to AIM in August 2006.

1pm plc is an established independent 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 provides asset finance from GBP1,000 to GBP50,000 for a period of between 12 and 60 months and GBP1,000 to GBP50,000 for business loans (repaid over 3-36 months).

Mission Statement - 'Helping the UK economy grow by providing finance to businesses'

More information is available 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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November 26, 2015 02:00 ET (07:00 GMT)

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