1pm plc (LON:OPM), the AIM listed independent specialist finance provider to UK SME businesses has announced that the Company’s name is changing to Time Finance plc with immediate effect. All subsidiary businesses within the 1pm Group will hereafter form part of the Time Finance brand. A resolution giving the Directors authority to change the Company’s name was approved by shareholders at the Company’s AGM held on 6 November 2019. The change of Company name has been formally registered at Companies House and a new certificate issued.
With effect from Tuesday 8 December 2020, trading in the Company’s ordinary shares on AIM will commence under the new name and the new ticker will be TIME. The Company’s ISIN (GB00BCDBXK43) and SEDOL remain unchanged. Shareholders should note that their shareholdings will be unaffected by the change of name and existing share certificates should be retained as no new share certificates will be issued. The Company’s website will change to www.timefinance.com with effect from 8.00am today and all information pursuant to AIM Rule 26 will be available at this address.
The rebranding follows the recent completion of the “buy and build” phase of the Group’s strategic expansion which has resulted in it being able to offer a comprehensive portfolio of financing solutions tailored for the UK SME market through its enhanced lending and broking operations. The Company is now simplifying its operating structure into a single nationally recognised, market-facing product offering under the new name.
Ian Smith, 1PM Chief Executive Officer, commented:
“The underlying strength of our market position, product offering, business model and robust operating structures have proven resilient, relevant and effective during the continuing economic and trading challenges presented by the Covid-19 pandemic. The rebranding of the business is designed to further consolidate and strengthen our offering, integrating and unifying 1pm (UK) Ltd, trading as Onepm Finance, Academy Leasing; Bradgate Business Finance; Intelligent Loans; Positive Cashflow Finance and Gener8 Finance under one consistent brand name and identity to deliver a more comprehensive solution to UK SME businesses.”
