FOR IMMEDIATE
RELEASE
11 July
2024
Manx Financial Group PLC (the
"Company")
Exercise of Restricted Stock Units, Issue of
Equity and TVR
Manx Financial Group PLC (AIM:MFX),
the holding company providing a range of diversified financial
services to the Isle of Man and the United Kingdom, announces that
following the satisfaction of the vesting criteria, it has
received and accepted requests to exercise
Restricted Stock Units over 1,920,000 ordinary shares of no par
value ("New Ordinary Shares") at nil cost in the
Company.
Douglas Grant and James Smeed, both
Directors of the Company, have elected to be issued 925,000 and
175,000 New Ordinary Shares of no par value respectively at nil
cost. Haseeb Qureshi, a Person Discharging Managerial
Responsibilities within the Company has elected to be issued
150,000 New Ordinary Shares of no par value at nil cost.
The Restricted Stock Units were
granted on 5 July 2022 (see announcement of 7 July 2022) and are
due to lapse on 5 July 2032.
Following Admission (as defined
below), the resultant interests in the Company for Douglas Grant,
James Smeed and Haseeb Qureshi will be as follows:
|
Director/PDMR
|
Date of
transaction
|
Number of shares purchased
via Option exercise
|
Purchase
price
|
Total shares
held
|
Percentage of issued share
capital
|
|
Douglas
Grant
|
16 July
2024
|
925,000
|
nil
|
2,197,904
|
1.84%
|
|
James
Smeed
|
16 July
2024
|
175,000
|
nil
|
175,000
|
0.15%
|
|
Haseeb
Qureshi
|
16 July
2024
|
150,000
|
nil
|
150,000
|
0.13%
|
Application has been made to the
London Stock Exchange for the 1,920,000 New Ordinary Shares to be
admitted to trading on AIM ("Admission") and it is expected that
Admission will become effective, and trading will commence on 17
July 2024.
Following the issue of the New
Ordinary Shares and Allotment, the Company's issued share capital
will consist of 119,475,757 Ordinary Shares of no-par value with
voting rights ("Ordinary Shares"). The Company does not hold any
Ordinary Shares in Treasury. Therefore, the total number of
Ordinary Shares in the Company with voting rights will be
119,475,757.
The figure of 119,475,757 Ordinary
Shares may be used by shareholders in the Company from the date of
admission as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the shares of the Company under the
Financial Conduct Authority's Disclosure and Transparency
Rules.
THIS ANNOUNCEMENT
CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE
REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN
POSSESSION OF INSIDE INFORMATION.
For further
information, please contact:
|
Manx Financial Group PLC
Denham Eke
Executive Vice Chair
Tel: +44 (0) 1624 694694
|
Beaumont Cornish Limited
Roland Cornish/James Biddle
Tel: +44 (0) 20 7628 3396
|
Greentarget Limited
Jamie Brownlee
Tel: +44 (0) 20 3307 5726
|
NOTIFICATION AND
PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH
THEM.
|
1.
|
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
|
a)
|
Name
|
Douglas
Grant
|
|
|
|
|
|
|
2.
|
|
Reason for the
notification
|
|
|
a)
|
Position/status
|
CEO
|
|
|
b)
|
Initial
notification/Amendment
|
Initial
Notification
|
|
|
|
|
|
|
3.
|
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
|
a)
|
Name
|
Manx Financial Group PLC
|
|
|
b)
|
LEI
|
213800R151BAZRATR333
|
|
|
|
|
|
|
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)
|
Description of the
financial instrument, type of instrument
|
Ordinary Shares of
no par value
|
|
|
b)
|
Identification
code
|
IM00B28ZPX83
|
|
|
c)
|
Nature of the
transaction
|
Exercise
of 925,000 Restricted Stock Units
|
|
|
|
|
|
|
1.
|
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
|
a)
|
Name
|
James
Smeed
|
|
|
|
|
|
|
2.
|
|
Reason for the
notification
|
|
|
a)
|
Position/status
|
Group Finance
Director
|
|
|
b)
|
Initial
notification/Amendment
|
Initial
notification
|
|
|
|
|
|
|
3.
|
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
|
a)
|
Name
|
Manx Financial Group PLC
|
|
|
b)
|
LEI
|
213800R151BAZRATR333
|
|
|
|
|
|
|
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)
|
Description of the
financial instrument, type of instrument
|
Ordinary Shares of
no par value
|
|
|
b)
|
Identification
code
|
IM00B28ZPX83
|
|
|
c)
|
Nature of the
transaction
|
Exercise
of 175,000 Restricted Stock Units
|
|
|
|
|
|
|
1.
|
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
|
a)
|
Name
|
Haseeb
Qureshi
|
|
|
|
|
|
|
2.
|
|
Reason for the
notification
|
|
|
a)
|
Position/status
|
PDMR
|
|
|
b)
|
Initial
notification/Amendment
|
Initial
notification
|
|
|
|
|
|
|
3.
|
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
|
a)
|
Name
|
Manx Financial Group
PLC
|
|
|
b)
|
LEI
|
213800R151BAZRATR333
|
|
|
|
|
|
|
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)
|
Description of the
financial instrument, type of instrument
|
Ordinary Shares of
no par value
|
|
|
b)
|
Identification
code
|
IM00B28ZPX83
|
|
|
c)
|
Nature of the
transaction
|
Exercise
of 150,000 Restricted Stock Units
|
Nominated Adviser
Beaumont Cornish Limited ("Beaumont
Cornish") is the Company's Nominated Adviser and is authorised and
regulated by the FCA. Beaumont Cornish's responsibilities as the
Company's Nominated Adviser, including a responsibility to advise
and guide the Company on its responsibilities under the AIM Rules
for Companies and AIM Rules for Nominated Advisers, are owed solely
to the London Stock Exchange. Beaumont Cornish is not acting for
and will not be responsible to any other persons for providing
protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in
this announcement or any matter referred to in it.