Vesting of Option Awards
Time Finance plc announced the vesting of 611,667 share options under its 2022 Unapproved Share Option Scheme, following the achievement of profit-based performance criteria. These options, previously announced on July 22, 2022, are held by Directors/PDMRs and can be exercised at nil-cost before their expiry date. Ed Rimmer, CEO, holds 411,667 vested options, while PDMRs Steve Nichols and Sharon Bryden each hold 100,000. All vested options expire on September 30, 2028. The company intends to use existing ordinary shares held by the Employee Benefit Trust to meet any future exercise of these options, and there are no further unvested share options under the 2022 Scheme.
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Time Finance plc, the AIM listed independent specialist finance provider, announces the vesting of an aggregate of 611,667 historically awarded share options following the achievement of profit-based performance criteria in relation to the Company's 2022 Unapproved Share Option Scheme (the "2022 Scheme").
The terms of the 2022 Scheme were previously announced by the Group on 22 July 2022. It remains the Board's strong intention that existing ordinary shares held by the Company's Employee Benefit Trust will be utilised to meet any future exercise of these vested options. The vested options are all held by the below Directors/PDMRs of the Company in the amounts below and may be exercised at nil-cost at any time prior to the exercise expiry date.
| Name | Position | Number of Vested Options | Exercise Expiry |
|---|---|---|---|
| Ed Rimmer | CEO | 411,667 | 30 September 2028 |
| Steve Nichols | PDMR | 100,000 | 30 September 2028 |
| Sharon Bryden | PDMR | 100,000 | 30 September 2028 |
There remain no further unvested share options previously granted under the 2022 Scheme.
| a) | Name | 1. Ed Rimmer 2. Steve Nichols 3. Sharon Brydon |
| 2 | Reason for the notification | |
| a) | Position/status | 1. Chief Executive Officer 2. PDMR 3. PDMR |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Time Finance plc |
| b) | LEI | 213800VG3QJGBP2MKR86 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 10p each ISIN: GB00BCDBXK43 |
| b) | Nature of the transaction | Vesting of awards under 2022 Unapproved Share Option Scheme |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1. Nil 2. Nil 3. Nil 1. 411,667 2. 100,000 3. 100,000 |
| d) | Aggregated information - Aggregated volume - Price | N/A Single transactions |
| e) | Date of the transaction | 2 October 2025 |
| f) | Place of the transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.