Grant of 2025 LTIP Awards
Time Finance plc has granted awards over 625,000 ordinary shares as nil cost options to its executive directors under the 2025 Long Term Incentive Plan. The Chief Executive Officer received 361,842 awards and the Chief Financial Officer received 263,158 awards, with vesting conditional on three-year performance targets related to profit before tax and total shareholder return, measured against a share price of 57p.
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Time Finance plc, the AIM listed independent specialist finance provider, announces that on 18 November 2025, the Company granted awards over an aggregate of 625,000 ordinary shares in the form of nil cost options (the "Performance Awards") to the executive directors of the Company under the 2025 Time Finance Long Term Incentive Plan (the "LTIP"). The Performance Awards have been awarded to the executive directors as follows.
| Director | Role | Number of Performance Awards |
|---|---|---|
| Ed Rimmer | Chief Executive Officer | 361,842 |
| James Roberts | Chief Financial Officer | 263,158 |
The Performance Awards will vest three years from the date of grant conditional upon the achievement of three-year performance conditions, details of which are provided below. In determining the number of Performance Awards granted to the executive directors, the Remuneration Committee has used a share price of 57p, being the closing mid-market price per Time Finance ordinary share on 1 June 2025.
Vesting of 85% of the Performance Awards is subject to a Company profit before tax ("PBT") performance condition measured over the performance period of three-years ending 31 May 2028 with threshold vesting of between 25% and 100% of this portion of the Performance Award on achievement or exceeding of the PBT performance condition.
The remaining 15% of the Performance Awards are subject to a Time Finance total shareholder return ("TSR") performance condition measured over a three-year period ending 31 May 2028, with vesting of between 25% and 100% of this portion of the Performance Award on a straight-line basis over a hurdle rate of compounded TSR.
The notifications below, provided in accordance with the Market Abuse Regulation, provide further details.
| a) | Name | Ed Rimmer |
| 2. | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/Amendment | Initial Notification |
| a) | Name | Time Finance plc |
| b) | LEI | 213800VG3QJGBP2MKR86 |
| a) | Description of the financial instrument | Ordinary shares |
| b) | Identification code | ISIN: GB00BCDBXK43 |
| c) | Nature of the transactions | Initial award under the Time Finance 2025 LTIP |
| d) | Price(s) and volume(s) | Price: nil Volume: 361,842 |
| e) | Aggregated information - Aggregated volume - Price | N/A - Single transaction |
| f) | Date of the transactions | 18 November 2025 |
| g) | Place of the transactions | Outside a trading venue |
| 2. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | James Roberts |
| 2. | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification/Amendment | Initial Notification |
| a) | Name | Time Finance plc |
| b) | LEI | 213800VG3QJGBP2MKR86 |
| a) | Description of the financial instrument | Ordinary shares |
| b) | Identification code | ISIN: GB00BCDBXK43 |
| c) | Nature of the transactions | Initial award under the Time Finance 2025 LTIP |
| d) | Price(s) and volume(s) | Price: nil Volume: 263,158 |
| e) | Aggregated information - Aggregated volume - Price | N/A - Single transaction |
| f) | Date of the transactions | 18 November 2025 |
| g) | Place of the transactions | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.