Bentley Park’s proposed acquisition of Time Finance is moving towards a shareholder vote, in a deal that would bring the AIM-listed lender under the same ownership as specialist property and business lender Ultimate Finance.
Time Finance has published the scheme document for the recommended cash acquisition, setting out the timetable and approvals required to take the company private.
The deal is the result of a competitive sale process that began after Time Finance received an approach from an unidentified third party in the third quarter of 2025.
Its board subsequently appointed independent advisers and approached a range of potential buyers over several rounds. The process culminated in the agreement with Bentley Park, Ultimate Finance’s parent company, announced on 17 August 2026.
The proposed acquisition is significant for the specialist finance market because Ultimate Finance operates across bridging, asset, invoice, construction, recruitment, trade and structured finance. Time Finance provides funding to small and medium-sized businesses through asset finance, invoice finance and business loans.
Completion would place both lenders under Bentley Park’s ownership, although the announcement does not set out any proposed changes to their brands, products or management.
SHAREHOLDER VOTE
Time Finance shareholders will vote on the transaction at a court meeting and general meeting in London on 1 October.
The scheme must be supported by a majority of the shareholders voting at the court meeting, representing at least 75% of the shares voted. It will also require approval at the general meeting and sanction from the court.
Time Finance’s directors have unanimously recommended the deal. They have undertaken to support it with their own holdings, which comprise about 2.36% of the company’s issued ordinary share capital.
If the necessary approvals are secured and the remaining conditions are met, the acquisition is expected to take effect during the fourth quarter of 2026.
Trading in Time Finance shares would then be suspended before the deal became effective, followed by the cancellation of the company’s admission to AIM.
The transaction has also affected Time Finance’s reporting timetable. The lender now expects to publish its audited results for the year to 31 May 2026 in November.
