REG - Manx Financial Group - Issue of Shares pursuant to Scrip Dividend & TVR

Manx FinancialAnnouncement

12/07/2023 07:00

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RNS Number : 7069F  Manx Financial Group PLC  12 July 2023

FOR IMMEDIATE
RELEASE
      12 July 2023

 

 

Manx Financial Group PLC (the "Group")

 

Issue of Ordinary Shares pursuant to the Scrip Dividend

and Total Voting Rights

 

Further to the announcement made on 30(th) May 2023 in relation to the Scrip
Dividend, the Group announces that it has received valid elections from
shareholders resulting in a requirement to issue 418,993 New Ordinary Shares
("New Shares") at a price of 21.8974 pence per share.

 

Jim Mellon and Dr Gregory Bailey, both Directors and significant shareholders
of the Group, have elected to be issued 78,900 and 65,384 Ordinary Shares of
no par value ("Ordinary Shares") respectively at a price of 21.8974 pence per
share representing their partial Script Dividend entitlements, thus
maintaining their joint percentage holding under the Concert Party whitewash
waiver approved on 9(th) April 2020. Douglas Grant and Alan Clarke, also
Directors of the Group, have elected to receive Ordinary Shares under the
Scrip Dividend as further set out in the table below.

 

Application has been made for the total of 418,993 New Shares to satisfy the
Scrip Dividend exercise, which will rank pari passu with all existing
Ordinary Shares, to be admitted to trading on AIM. Admission is expected on or
around 19(th) July 2023.

 

Following the issue of the New Shares and Additional Allotment, the Company's
issued share capital consists of 115,491,981 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 is 115,491,981.

 

Directors' Dealings

 

The respective holdings of the Directors following the issue of ordinary
shares pursuant to the Scrip Dividend:

 

                     Scrip Shares Issued  Total number of shares held  % of Issued Capital
 Jim Mellon (1)      78,900               21,748,214                   18.83
 Gregory Bailey (2)  65,384               18,022,674                   15.61
 Douglas Grant       9,178                543,129                      0.47
 Alan Clarke         946                  55,994                       0.05

 

(1)     Burnbrae Limited holds 19,420,232 Ordinary Shares. Burnbrae
Limited is 100% beneficially owned by Jim Mellon. Denham Eke, Executive
Vice-Chairman of MFG, is also a director of Burnbrae Limited. Vidacos Nominees
Limited also holds 2,327,982 Ordinary Shares in trust for Jim Mellon.

(2)     Vidacos Nominees Limited holds 18,022,674 Ordinary Shares in trust
for Gregory Bailey.

 

Total Voting Rights

 

The figure of 115,491,981 Ordinary Shares may be used by shareholders in the
Group 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 Group 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  Beaumont Cornish Limited      Greentarget Limited

 Denham Eke,               Roland Cornish/James Biddle   Jamie Brownlee

 Executive Vice Chairman   Tel +44 (0) 20 7628 3396      Tel: +44 (0) 20 3307 5726

 Tel +44 (0)1624 694694

 

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