Print   



PRIVATE & COMMERCIAL FINANCE GROUP PLC

PLANNED ORGANISATION CHANGES

The following changes have been approved by the board of Directors of Private & Commercial Finance Group plc ('PCFG' or 'the Group') and will take effect from 31 October 2008:

• Scott Maybury will become Group Chief Executive in succession to Tony Nelson who will become Deputy Chairman 

• Robert Murray, who has been Managing Director of the Group's Business Finance Division since its formation in 1999, will also take charge of the Group's Consumer Finance Division 

• Zane Kerse, who has been the Group's Financial Controller since 2001, will be appointed Finance Director in succession to Scott Maybury 

• The strong team of non-executive directors will be unchanged 

Tony Nelson said: 'I reached the age of 65 yesterday and feel that after working closely with Robert and Scott for the last 20 years it is the right time to hand over my executive responsibilities to them.  It goes without saying that I have immense confidence in their knowledge, professionalism, judgement and experience.  To assist continuity, I will be working with them on a part-time, non-executive, advisory basis for the next two years.'

For more information, please contact:

Private & Commercial Finance Group plc
Scott Maybury	Tel: 020 7222 2426
Tony Nelson	Tel: 020 7222 2426
Hanson Westhouse Limited, Nominated Adviser
Tim Feather / Matthew Johnson	Tel: 0113 246 2610
WH Ireland Limited, Broker
Katy Mitchell	Tel: 0113 394 6600
Stuart Forshaw	Tel: 0161 832 2174
St Brides Media and Finance
Felicity Edwards	Tel: 020 7236 1177

 

 

Appendix

Zane Robert Kerse, aged 48, is a director of Cariad Properties Limited, which is incorporated in New Zealand.

Mr. Kerse holds options over 27,500 ordinary shares in PCFG. The exercise price and exercise period for the options are as follows:

No. of options	Exercise price	Last date for exercise
5,000	75.5p	15 March 2012
10,000	51p	7 April 2013
12,500	43.25p	14 June 2014

Mr. Kerse has confirmed that there is no further information to be disclosed in accordance with the requirements of Schedule Two (g) of the AIM Rules.

Notes to editors:

PCFG, which is authorised and regulated by the Financial Services Authority, is an independent AIM-listed finance house. The Group provides a carefully selected range of high quality equipment finance products tailored for both business and personal customers. The range extends from financing cars for consumers to leasing a wide range of equipment to businesses.

ENDBOAPUGMUUUPRURC