Time Finance PLC Appointment of Independent Non-Executive Directors (8236M)
September 19 2023 - 2:00AM
UK Regulatory
TIDMTIME
RNS Number : 8236M
Time Finance PLC
19 September 2023
19 September 2023
Time Finance plc
("Time Finance", the "Group" or the "Company")
Appointment of Independent Non-Executive Directors
Time Finance plc, the AIM listed specialist finance provider, is
pleased to announce the appointments of Tracy Watkinson and Paul
Hird as Independent Non-Executive Directors of the Group with
immediate effect.
Tracy is an accomplished executive with more than 20 years of
finance and commercial experience, and currently serves as Chief
Operating Officer of Finance at NatWest Group. She began her career
at PwC, before later moving into the finance sector, working for
Barclays, UBS and Credit Suisse. Tracy has significant experience
as a COO in investment banking and is a business transformation
expert. She has served in a number of non-executive and independent
chair roles, within the finance and sporting sectors.
Paul has a background of over 30 years in the finance sector,
most recently as co-founder and Chief Executive of Leumi ABL, an
asset-based lender that provided over GBP500m of facilities to
clients in the UK Mid-Market with assets of over GBP2.4 billion
being funded annually. Paul is a seasoned non-executive and
corporate finance professional with a broad base of experience and
achievements in senior management, mergers and acquisitions, and
strategic business planning.
Tracy and Paul will be joining the Nominations, Remuneration,
Audit, and Governance & Risk committees with immediate
effect.
The Company also announces that after many years of significant
contributions to the Board, Ron Russell and Julian Telling,
Non-Executive Directors of the Company, will step down from the
Board on conclusion of the Company's AGM to be held on 7 November
2023.
Tanya Raynes, Non-Executive Chair of Time Finance, said:
"Paul and Tracy both bring highly relevant experience that will
benefit the Group and its future at what is a very exciting time
for the Company as it continues to deliver on its stated growth
strategy including seeking to double Time Finance's own lending
book from June 2021 to June 2025. I am very pleased to welcome them
to the Board."
"I would also like to take this opportunity to thank Ron, who
remains a highly supportive long-term shareholder of the Company,
and Julian for their contribution to the business over many
years."
For further information, please
contact:
Time Finance plc
Ed Rimmer, Chief Executive Officer 01225 474230
James Roberts, Chief Financial Officer 01225 474230
Cavendish Securities plc (NOMAD
and Broker)
Ben Jeynes / Charlie Combe (Corporate
Finance)
Michael Johnson / George Budd (Sales) 0207 220 0500
Walbrook PR 0207 933 8780
Paul Vann /Joe Walker 07768 807631
Timefinance@walbrookpr.com
Tracy Watkinson, aged 47, holds or has held the following directorships
or partnerships in the past five years:
Current Previous
393 FPR Limited The British Handball Association
The England Handball Association
Ltd
----------------------------------
Paul Grant Self Hird, aged 64, holds or has held the following
directorships or partnerships in the past five years:
Current Previous
PH&HH Consultancy Ltd Leumi UK Group Limited
Preston Nomads Cricket Club THPH Investments 3 Ltd
Ltd
Salisbury Court Hove (Freehold)
Ltd
Salisbury Court (Hove No
2) Management Company Ltd
Spatial Composite Solutions
FZ LLC
------------------------
Mr. Hird resigned as a Non-Executive Director of Sherwood Environmental
Services Limited ("SES") on 1st June 2006. On 13(th) June 2006,
administration proceedings were initiated against SES pursuant
to a winding up petition. Proceedings were concluded on 13 June
2007 and SES was dissolved on 9 January 2009.
Neither Paul nor Tracy currently holds any ordinary shares in
the Company.
About Time Finance:
Time Finance's core strategy is to focus on providing or arranging
the finance UK SMEs require to fund their businesses. It offers
a multi-product range for SMEs including asset, vehicle, loan
and invoice finance. While primarily an 'own-book' lender the
Group does operates a 'hybrid' lending and broking model enabling
it to optimize business levels through market and economic cycles.
More information is available on the Company website www.timefinance.com
.
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END
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