Announcement PDF RNS Number : 4634O Time Finance PLC 03 October 2023 3 October 2023 Time Finance plc ("Time Finance", the "Group" or the "Company") Unapproved Share Option Scheme - Vesting of Awards Director/PDMR Shareholding Time Finance plc, the AIM listed independent specialist finance provider, announces the vesting of an aggregate of 790,166 historically awarded share options following achievement of time-based performance criteria in relation to the Company's 2020 Unapproved Share Option Scheme (the "2020 Scheme") and the achievement of profitbased performance criteria in relation to the Company's 2022 Unapproved Share Option Scheme (the "2022 Scheme"). The terms of the 2020 Scheme and 2022 Scheme were previously announced by the Group on 29 October 2020 and 22 July 2022 respectively. 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 and also of any further 2022 Scheme options that could vest in the future. The vested options are all held by the below Directors/PDMRs of the Company and may be exercised at any time prior to the exercise expiry date. Position Ed Rimmer Steve Nichols Sharon Bryden James Roberts Lorraine Neyland Phil Chesham CEO PDMR PDMR CFO PDMR PDMR Number of Vested Options 411,666 100,000 100,000 123,500 31,000 24,000 Scheme Exercise expiry 2022 Scheme 2022 Scheme 2022 Scheme 2020 Scheme 2020 Scheme 2020 Scheme 30 September 2028 30 September 2028 30 September 2028 30 September 2024 30 September 2024 30 September 2024 The 2020 Scheme is now complete with no further options under the scheme remaining unvested. There remain a further unvested 1,223,333 share options previously granted under the 2022 Scheme. Subject to the recipients' continued employment with the Group and the achievement of stretching profit targets for the next two financial years, the remaining currently unvested 2022 Scheme options would vest in equal tranches in October 2024 and October 2025. The notifications below, provided in accordance with the requirements of the UK Market Abuse Regulation, provide further details. For further information, please contact: Time Finance plc Ed Rimmer, Chief Executive Officer 01225 474230 James Roberts, Chief Financial Officer 01225 474230 Cavendish Securities plc (NOMAD and Broker) Ben Jeynes / Charlie Combe (Corporate Finance) 0207 220 0500 Michael Johnson / George Budd (Sales) Walbrook PR 0207 933 8780 Paul Vann / Joe Walker 07768 807631 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. 1 2 Details of the person discharging managerial responsibilities / person closely associated 1. James Roberts 2. Lorraine Neyland Name 3. Phil Chesham 4. Ed Rimmer 5. Steve Nichols 6. Sharon Bryden Reason for the notification a) Position/status b) Initial notification /Amendment 3 a) Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor Name Time Finance plc b) LEI 4 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 a) 1. Chief Financial Officer 2. PDMR 3. PDMR 4. Chief Executive Office 5. PDMR 6. PDMR Initial notification 213800VG3QJGBP2MKR86 a) Description of the financial instrument, type of instrument Share Options over Ordinary Shares of 10p each Identification code b) Nature of the transaction c) Price(s) and volume(s) d) Vesting of Unapproved Share Option Scheme share options Price(s) Volume(s) 1. 2. 3. 4. 5. 6. 1. 2. 3. 4. 5. 6. Nil pence Nil pence Nil pence Nil pence Nil pence Nil pence 123,500 31,000 24,000 411,666 100,000 100,000 Aggregated information - Aggregated volume n/a - see table above - Price e) Date of the transaction 2 October 2023 f) Place of the transaction Outside of a trading venue This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. 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