REG - Manx Financial Group - New Shares issued pursuant to Scrip Dividend, TVR

Manx FinancialAnnouncement

17/06/2022 12:45

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RNS Number : 3230P  Manx Financial Group PLC  17 June 2022

FOR IMMEDIATE
RELEASE
17 June 2022

 

 

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 25(th) May 2022 in relation to the Scrip
Dividend, the Group announces that it has received valid elections from
shareholders resulting in a requirement to issue 513,145 New Ordinary Shares
("New Shares") at a price of 8.025 pence per share.

 

In addition, Jim Mellon and Dr Gregory Bailey, both Directors and significant
shareholders of the Group, will be issued 146,664 and 121,540 Ordinary Shares
of no par value ("Ordinary Shares") respectively at a price of 8.025 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 781,349 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 23(rd) June 2022.

 

Following the issue of the New Shares and Additional Allotment, the Company's
issued share capital consists of 115,072,988 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 115,072,988.

 

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)      146,664              21,669,314                   18.83
 Gregory Bailey (2)  121,540              17,957,290                   15.61
 Douglas Grant       15,774               533,951                      0.46
 Alan Clarke         1,626                55,048                       0.05

 

(1)     Burnbrae Limited holds 19,341,332 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 17,957,290 Ordinary Shares in trust
for Gregory Bailey.

 

Total Voting Rights

 

The figure of 115,072,988 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   Dafina Grapci-Penney

 Executive Vice Chairman   Tel +44 (0) 20 7628 3396      Tel +44 (0) 203 963 1887

 Tel +44 (0)1624 694694

 

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