REG - Manx Financial Group - MFG provides Fiinu plc with a £2 million CLN

Manx FinancialAnnouncement

22/09/2025 07:00

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RNS Number : 8926Z  Manx Financial Group PLC  22 September 2025

FOR IMMEDIATE RELEASE
 
 22 September 2025

Manx Financial Group plc

(the "Group")

Manx Financial Group plc provides Fiinu plc with a £2 million Convertible
Loan Note

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, further to the commercial agreement announced yesterday, its
wholly owned subsidiary, Conister Bank Limited ("Conister"), has entered into
a £2 million convertible loan note agreement with Fiinu plc ("Fiinu"), an
AIM-listed technology platform provider. This two-year note carries an annual
interest rate of 10% and is convertible into 20 million ordinary shares of
Fiinu at a conversion price of 10 pence per share (representing approximately
5.2% of Fiinu's existing share capital), with the conversion being at the
discretion of Conister.

As an AIM Rule 12 transaction, Conister considered that Fiinu, listed on AIM
since 2022, has a market capitalisation of approximately £51 million and
recorded a loss of £700,068 for the year end 2024. The funds from this
facility will be utilised by Fiinu for general working capital purposes. As of
the current date, Fiinu's shares are trading at a premium to the conversion
price.

Douglas Grant, Managing Director of Conister Bank Limited and Chief Executive
Officer of Manx Financial Group PLC, stated:

"This facility is part of the Group's strategy to enhance its lending
technology by integrating with experienced market-leading product providers
for our customers benefit. The optionality within this facility also allows
the Group to potentially generate a return greater than debt interest alone".

This announcement contains inside information for the purposes of Article 7 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, this inside information is now considered to
be in the public domain.

For further information, please contact:

 Manx Financial Group PLC  Beaumont Cornish Limited   Tavistock Communications Limited            Greentarget Limited
 Denham Eke                Roland Cornish/            Simon Hudson/                               Jamie Brownlee

                           James Biddle               Adam Baynes
 Tel: +44 (0) 1624 694694  Tel: +44 (0) 20 7628 3396  Tel: +44 207 920 3150 mfg@tavistock.co.uk   Tel: +44 (0) 20 3307 5726

 

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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