10 September 2024
Time
Finance plc
("Time
Finance", the "Group" or the "Company")
Notice of
Results and Investor Presentation
Trading
Update
Record
net tangible assets
Time Finance plc, the AIM listed
specialist finance provider, confirms key dates in the Group's 2024
financial calendar. The Company is also pleased to provide an
update on trading during Q1 of the current financial
year.
Notice of Results, Investor
Presentation and Annual General Meeting
As announced on 27 June 2024, the
Group is planning to publish its audited annual results for the
year ended 31 May 2024 on Wednesday 25 September 2024. The Company
will also provide an update in respect of trading in Q1 2024/25 at
that time.
Chief Executive Officer, Ed Rimmer,
and Chief Financial Officer, James Roberts, will deliver a live
presentation relating to the audited annual results and
accompanying Q1 trading update via the Investor Meet Company
platform at 1.00pm on 25 September 2024. The presentation is open
to all existing and potential shareholders and questions can be
submitted via the Investor Meet Company dashboard pre-event up
until 9am on 24 September 2024 or at any time during the live
presentation. Investors can sign up to Investor Meet Company for
free and add to meet Time Finance plc via:
https://www.investormeetcompany.com/time-finance-plc/register-investor.
Investors who already follow Time Finance plc on the Investor Meet
platform will automatically be invited.
As communicated on 27 August 2024,
the Company is proposing to hold its Annual General Meeting on
Tuesday 5 November 2024. The notice convening the AGM will be
published in due course.
Balance Sheet continues to
strengthen in line with medium-term strategy
Trading in the current financial
year has started strongly as the Group continues to deliver on its
four-year medium-term plan that was first announced in June 2021.
At 31 August 2024, the unaudited value of the Group's Net Tangible
Assets reached a record high standing in excess of £40m.
Additionally, the Group achieved record monthly revenues during
July 2024, and then again in August 2024, as it continues to
benefit from the focus on own-book lending. Unaudited revenues
during Q1 FY2025 were approximately 20% higher than the prior year
equivalent (Q1 FY2024: £7.6m), providing significant confidence as
to delivery of full year performance in line with market
expectations. Fuller detail regarding all key metrics and
performance during Q1 will be provided in the update being
announced on 25 September.
For further information, please
contact:
Time Finance
plc
01225 474230
Ed Rimmer, Chief Executive
Officer
James Roberts, Chief Financial
Officer
Cavendish Capital Markets (Nominated
Adviser and Broker)
0207 220 0500
Ben Jeynes / Dan Hodkinson
(Corporate Finance)
Michael Johnson / George Budd /
Charlie Combe (Sales and ECM)
Walbrook PR
0207 933 8780
Nick Rome / Joe
Walker timefinance@walbrookpr.com
About Time
Finance:
Time Finance's purpose is to help UK
businesses thrive and survive through the provision of flexible
funding facilities. It offers a multi-product range for SMEs
concentrating on Asset, Loan and Invoice Finance. While focussed on
being an 'own-book' lender, the Group does retain the ability to
broke-on deals where appropriate, enabling it to optimize business
levels through market and economic cycles.
More information is available on the
Company website www.timefinance.com.
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 as amended by regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310. Upon the publication of
this announcement via Regulatory Information Service, this inside
information is now considered to be in the public
domain.