REG - Manx Financial Group - Grant of Restricted Share Units

Manx FinancialAnnouncement

27/10/2022 09:00

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RNS Number : 2457E  Manx Financial Group PLC  27 October 2022

 
 

FOR IMMEDIATE
RELEASE
9.00am 27 October 2022

 

 

Manx Financial Group PLC (the 'Company')

 

Grant of Restricted Share Units

Director's Dealing

 

 

 

Manx Financial Group PLC announces that on 27 October 2022, the Company
granted Restricted Share Units ("RSUs") under its 2022 Restricted Share Unit
Plan. This plan was considered and approved at the Company's 2022 Annual
General Meeting.

 

The Company has issued a further 315,000 RSUs, with 150,000 being issued to
the Company's Chief Executive Officer. Douglas Grant, and 165,000 to certain
employees. The RSUs have a 2-year term and are subject to certain vesting
conditions based upon an overall increase in profitability, both at the Group
and company level, the satisfaction of individual performance targets and
other metrics, including the achievement of additional sources of liquidity.
Any RSUs granted will fall away should the recipient leave employment before
the 2-year term expires. Should the individual vesting conditions be satisfied
at the end of the term, the stock will be granted at nil cost.

As a result, the Company has now issued 2,435,000 RSUs in total which
represents 2.1% of the issued share capital of the Company.

 

Details pursuant to the AIM disclosure and Market Abuse Regulations of the
PDMR who received the RSUs are as follows:

 

·   Douglas Grant, a director of the Company, was issued a further 150,000
RSUs, bringing his total entitlement to 1,075,000. He currently owns 533,951
Ordinary Shares in the Company representing a holding of 0.46%. Including
700,000 Share Options issued 24 June 2014, he would hold a total of 2,308,951
Ordinary Shares on a fully diluted basis, being 1.95% of the new issued share
capital of the Company.

 

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  Beaumont Cornish Limited      Greentarget Limited

 Denham Eke,               Roland Cornish/James Biddle

 Executive Vice Chairman   Tel +44 (0) 20 7628 3396      Jamie Brownlee

 Tel +44 (0)1624 694694                                  Tel +44 (0) 203 307 5726

 

 

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