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LONDON - Time Finance plc, an AIM-listed independent specialist finance provider, announced Friday that 611,667 share options have vested following the achievement of profit-based performance criteria under its 2022 Unapproved Share Option Scheme.
The vested options are held by three company executives: CEO Ed Rimmer received 411,667 options, while PDMRs Steve Nichols and Sharon Bryden each received 100,000 options. All options may be exercised at nil-cost at any time before September 30, 2028.
According to the company statement, the board intends to utilize existing ordinary shares held by the Company’s Employee Benefit Trust to meet any future exercise of these vested options.
The terms of the 2022 Scheme were initially announced by Time Finance on July 22, 2022. The company confirmed there are no further unvested share options previously granted under this scheme.
The announcement was made in accordance with the requirements of the UK Market Abuse Regulation, as stated in the press release.
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