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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Manx Financial Group Plc | LSE:MFX | London | Ordinary Share | IM00B28ZPX83 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 21.00 | 20.00 | 22.00 | 21.00 | 21.00 | 21.00 | 0.00 | 07:32:54 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Personal Credit Institutions | 36.05M | 4.67M | 0.0405 | 5.19 | 24.25M |
TIDMMFX
RNS Number : 6369M
Manx Financial Group PLC
31 July 2017
IMMEDIATE RELEASE 31 July 2017
Manx Financial Group PLC
Assignment and Exercise of Warrants raising GBP1.0 million, Issue of Equity
Total Voting Rights
The board of Manx Financial Group plc ("MFG" or the "Company") is pleased to announce that on 28 July 2017, Burnbrae Limited ("Burnbrae") assigned 16,835,750 warrants over 16,835,750 of the Company's ordinary shares to Citibank N.A. London ("Citibank") as custodian on behalf of Dr Greg Bailey (the "Assignment"), and that following the Assignment, 16,835,750 warrants have been exercised by Citibank at 6 pence per share (the "Exercise"), for a total consideration of GBP1,010,145.
Following the Assignment, the remaining holding of warrants over ordinary shares in the Company by Burnbrae, an entity indirectly wholly owned by Jim Mellon, Executive Chairman, will be reduced to 3,164,250.
Following the Exercise, Dr Greg Bailey will be indirectly interested in 17,835,750 ordinary shares, representing 14.99% of the enlarged issued equity of the Company. Jim Mellon, will be interested in 17,635,332 ordinary shares, representing 14.83% of the enlarged issued share capital, comprising of 968,666 ordinary shares held by Pershing Nominees and 666,666 ordinary shares held by Vidacos Nominees on his behalf, together with 16,000,000 ordinary shares held by Burnbrae.
Pursuant to the Exercise, 16,835,750 new ordinary shares at no par value will be issued and allotted as soon as practicable. Application for admission to trading on AIM of the new ordinary shares will be made ("Admission") and Admission is expected to take place on or around 4 August 2017. The new ordinary shares will rank pari passu with the existing ordinary shares in issue.
It is intended that the Exercise proceeds will provide Conister Bank Limited ("Conister"), the Company's wholly owned subsidiary, with additional Tier 1 capital to allow further expansion and development of business and operations.
In accordance with the provisions of the Disclosure and Transparency Rules of the Financial Conduct Authority, MFG confirms that, following this issue of new ordinary shares, its issued share capital will comprise 118,906,002 ordinary shares of no par value. All of these ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 118,906,002 following Admission.
For further information, please contact:
Manx Financial Group PLC
Denham Eke, Chief Executive
Tel: +44 (0) 1624 694694
Beaumont Cornish Limited
Roland Cornish/James Biddle
Tel: +44 (0) 20 7628 3396
Britton Financial PR
Tim Blackstone
Tel: +44 (0) 7957 140416
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
July 31, 2017 11:04 ET (15:04 GMT)
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