Source - RNS
RNS Number : 7764L
Private & Commercial Fin Group Plc
05 October 2016
 

 

 

Private & Commercial Finance Group plc

 

("PCFG" or the "Company")

 

Conversion of Loan Notes and PDMR Dealings

 

Private & Commercial Finance Group plc ("PCFG" or the "Company") announces that the Company has received conversion notices for an aggregate of 934,734 £1 nominal 6% Convertible Unsecured Loan Notes 2016 ("2016 CULS").  The 2016 CULS have a conversion price of 8.5 pence per share and therefore the above conversion will result in the issue of 10,996,859 new ordinary shares of 5p each in the Company (the "New Shares"). 

 

Application has been made for the New Shares to be admitted to trading on AIM and it is expected that admission will take place on or around 10 October 2016.

 

Following the admission of the New Shares to trading on AIM, there will be 170,124,102 ordinary shares of 5p each ("Ordinary Shares").

 

The following directors of the Company held 2016 CULS and, as a result of exercising their option to convert them into Ordinary Shares, have increased their shareholdings in the Company as follows:

 

Director

2016 CULS

Existing holding of Ordinary Shares

New Shares issued on conversion of 2016 CULS

Resultant holding of Ordinary Shares

 

% of issued share capital, as enlarged by the New Shares

David Anthony

20,075

936,275

236,176

1,172,451

0.7%

Scott Maybury

10,000

1,600,006

117,647

1,717,653

1.0%

David Morgan

10,000

Nil

117,647

117,647

0.1%

 

 

The above figure of 170,124,102 ordinary shares of 5p each may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's DTR rules.

 

The remaining 21,597 of £1 nominal 2016 CULS matured on 30th September 2016 and will be redeemed to their respective loan note holders. The 2016 CULS trading line was cancelled at close of business on 30 September 2016 and the Company has notified the FCA to remove the 2016 CULS line from the Official List.

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated with them.

 

 1

 

Details of the person discharging managerial responsibilities / person closely associated 

a)

 

Names 

David Anthony - Chairman

Scott Maybury - Chief Executive

David Morgan - Non-executive Director

2

 

Reason for the notification

a)

 

Position/status

 

See 1(a) above for positions - all classified as PDMRs of PCFG

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

a)

 

Name

 

Private & Commercial Finance Group plc

 

b)

 

LEI


4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

 

Ordinary shares of 5 pence each

b)

Identification code 

 

GB0004189378

c)

 

Nature of the transaction 

 

In each case, the issue of Ordinary Shares upon conversion of £1 nominal 6% Convertible Unsecured Loan Notes 2016 

d)

 

Price(s) and volume(s)

Price - conversion price of 8.5 pence per Ordinary Share

Volume(s)

David Anthony - 236,176 Ordinary Shares upon conversion of £20,075 2016 CULS

Scott Maybury - 117,647 Ordinary Shares upon conversion of £10,000 2016 CULS

David Morgan - 117,647 Ordinary Shares upon conversion of £10,000 2016 CULS

 

d)

 

Aggregated information 

- Aggregated volume

- Price

 n/a

 

e)

 

Date of the transaction 

04 October 2016

f)

 

Place of the transaction

Outside a trading venue

 

Name of authorised official of issuer responsible for making notification:

 

Robert Murray

Company Secretary to Private & Commercial Finance Group plc

 

For further information, please contact:

 

Private & Commercial Finance Group

Scott Maybury, Chief Executive

Robert Murray, Managing Director

David Bull, Finance Director

 

Tel: +44 (0) 20 7222 2426

Tavistock Communications

Jos Simson / Niall Walsh

 

Tel: +44 (0) 20 7920 3150

Panmure Gordon (UK) Limited

Adam James / Peter Steel / Atholl Tweedie

 

Tel: +44 (0) 20 7886 2500

Stockdale Securities

Henry Willcocks

 

Tel: +44 (0) 20 7601 6100

 

About Private & Commercial Finance Group plc

 

Established in 1994, Private & Commercial Finance Group plc is an AIM-quoted finance house which has two main operating divisions:

 

·     Consumer Finance which provides finance for motor vehicles to consumers; and

·     Business Finance which provides finance for vehicles, plant and equipment to SMEs.

 

The Group has a highly efficient and scalable business model, utilising its specially developed internet-based proposal system to service national networks of brokers and suppliers.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBBBDGRBGBGLU

Related Charts

Private & Commercial Finance Group (PCF)

0.00p (0.00%)
delayed 18:15PM