Manx Financial Group PLC Exercise of Restricted Stock Units & TVR

RNS Number : 9251J

Manx Financial Group PLC

29 October 2024

 

 

 

 

FOR IMMEDIATE RELEASE                                                                                   29 October 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 240,000 ordinary shares of no par value ("New Ordinary Shares") at nil cost in the Company.

 

Douglas Grant, a Director of the Company, has elected to be issued 150,000 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 50,000 New Ordinary Shares of no par value at nil cost.

 

The Restricted Stock Units were granted on 27 October 2022 (see announcement of 27 October 2022) and are due to lapse on 27 October 2032.

 

Following Admission (as defined below), the resultant interests in the Company for Douglas Grant 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	6 November 2024	150,000	nil	2,347,904	1.96%
Haseeb Qureshi	6 November 2024	50,000	nil	200,000	0.17%

 

Application has been made to the London Stock Exchange for the 240,000 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 6 November 2024.

Following the issue of the New Ordinary Shares and Allotment, the Company's issued share capital will consist of 119,715,757 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 119,715,757.

 

The figure of 119,715,757 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: [phone]

Beaumont Cornish Limited Roland Cornish/James Biddle Tel: [phone]

Greentarget Limited Jamie Brownlee Tel: [phone]

 

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 150,000 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 50,000 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.

 

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