1pm (OPM)

Sector:

Financials

Index:

FTSE AIM All-Share

23.75p
   
  • Change Today:
      0.50p
  • 52 Week High: 37.50
  • 52 Week Low: 12.50
  • Currency: UK Pounds
  • Shares Issued: 90.37m
  • Volume: 96,247
  • Market Cap: £21.46m

1pm gets go-ahead to expand CBILS lending

By Josh White

Date: Wednesday 28 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Specialist finance provider 1pm has received accreditation from British Business Bank to expand its lending under the UK government's Coronavirus Business Interruption Loan Scheme (CBILS), it announced on Wednesday, to support credit-worthy UK businesses.


The AIM-traded firm had announced on 5 May that the British Business Bank approved its subsidiary 1pm Finance UK as an accredited lender under CBILS.

It said that accreditation enabled it to expand its range of lending products to viable businesses across the UK that were impacted by the Covid-19 pandemic, to include CBILS leases and loans.

CBILS lending benefits from a government-backed guarantee for the repayments due from borrowers.

Originally set to end on 30 September, the UK government recently announced that the CBILS scheme would remain open for applications until 30 November.

Since its launch, CBILS lending had become an "important part" of the group's business loan and lease proposition, the board said, with the initial lending allocation almost fully used.

As such, the group sought and was approved for a "significant uplift" in its allocation.

That, 1pm said, would enable the firm to continue promoting and deploying the CBILS product through to the scheme's extended closure date.

"CBILS has provided a potential lifeline to many viable UK businesses in these difficult economic times and its extension is welcomed by the group," said chief financial officer James Roberts.

"Since becoming an accredited lender we have seen significant appetite amongst our various introductory channels to deploy funds through the scheme.

"With this increased allocation, subject to our continued robust and rigorous underwriting checks, we are pleased to be in a position to help yet more UK small to medium enterprises."

At 0915 GMT, shares in 1pm were flat at 16.75p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

1pm Market Data

Currency UK Pounds
Share Price 23.75p
Change Today 0.50p
% Change 2.15 %
52 Week High 37.50
52 Week Low 12.50
Volume 96,247
Shares Issued 90.37m
Market Cap £21.46m

1pm Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
80.14% above the market average80.14% above the market average80.14% above the market average80.14% above the market average80.14% above the market average
61.76% above the sector average61.76% above the sector average61.76% above the sector average61.76% above the sector average61.76% above the sector average
Price Trend
47.87% below the market average47.87% below the market average47.87% below the market average47.87% below the market average47.87% below the market average
45.83% below the sector average45.83% below the sector average45.83% below the sector average45.83% below the sector average45.83% below the sector average
Income Not Available
Growth
87.11% below the market average87.11% below the market average87.11% below the market average87.11% below the market average87.11% below the market average
90.24% below the sector average90.24% below the sector average90.24% below the sector average90.24% below the sector average90.24% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

1pm Dividends

  Latest Previous
  Final Interim
Ex-Div 31-Oct-19 04-Apr-19
Paid 12-Dec-19 01-May-19
Amount 0.56p 0.28p

Trades for 30-Nov-2020

Time Volume / Share Price
16:02 8,320 @ 23.99p
15:55 8,320 @ 23.99p
15:16 521 @ 23.61p
15:10 2,890 @ 23.80p
14:44 15,000 @ 23.80p

1pm Key Personnel

Chair Ian Smith
CFO James Roberts

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