Source - RNS
RNS Number : 8696L
Private & Commercial Fin Group Plc
06 October 2016



Private & Commercial Finance Group plc


("PCFG" or the "Company")


Conversion of Loan Notes and PDMR Dealings - correction


The announcement released by the Company on 05 October 2016 entitled "Conversion of Loan Notes and PDMR Dealings" stated that David Morgan, a Non-executive Director and PDMR of PCFG, held 10,000 2016 CULS which, on conversion, resulted in the issue of 117,647 New Shares to Mr Morgan.


The announcement should have stated that Mr Morgan held 30,000 2016 CULS which, on conversion, resulted in the issue of 352,941 New Shares, representing his entire interest (or 0.2%) of the Company's issued share capital. All other details disclosed in the previous announcement are unchanged.


The amended notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail in respect of the issue of the New Shares to Mr Morgan.


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




Details of the person discharging managerial responsibilities / person closely associated 




David Morgan - Non-executive Director



Reason for the notification





See 1(a) above for position - classified as a PDMR of PCFG



Initial notification /Amendment





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





Private & Commercial Finance Group plc







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



Description of the financial instrument, type of instrument


Ordinary shares of 5 pence each ("Ordinary Shares")


Identification code 





Nature of the transaction 


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




Price(s) and volume(s)

Price - conversion price of 8.5 pence per Ordinary Share


352,941 Ordinary Shares upon conversion of 30,000 2016 CULS




Aggregated information 

- Aggregated volume

- Price





Date of the transaction 

04 October 2016



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


Capitalised terms in this announcement have the same meaning as defined in the Company's 05 October 2016 announcement, unless the context requires otherwise.


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