REG - Manx Financial Group - Result of AGM and Dividend Declaration

Manx FinancialAnnouncement

30/05/2023 12:45

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RNS Number : 0455B  Manx Financial Group PLC  30 May 2023

FOR IMMEDIATE
RELEASE
 
 
30(th) May 2023

 

Manx Financial Group PLC (the "Company")

Result of Annual General Meeting ("AGM")

Dividend Declaration

 

The Company is pleased to announce that at the AGM held today all resolutions
tabled were duly passed.

 

As a consequence, the Company is pleased to announce a dividend of 0.3764
pence per Ordinary Share for the period from 1(st) January 2022 to 31(st)
December 2022, calculated as being 10% of the profit after tax available to
Shareholders.  The dividend will be paid on 19(th) July 2023 to holders of
Ordinary Shares recorded on the register on 16(th) June 2023.

 

The Company is also offering a Scrip Dividend Scheme under which Shareholders
may elect to receive New Ordinary Shares in lieu of the cash dividend ("Scrip
Shares").  The price of the New Shares to be issued under the Scrip Dividend
Scheme will be calculated taking the lowest daily Volume Weighted Average
Price ("VWAP") derived from the Daily Official List of the London Stock
Exchange plc during the period of twenty dealing days prior to (and including)
the Ex-Dividend Date (capped at 20% discount to the VWAP of Ordinary Shares on
the Ex-Dividend Date).

 

A Scrip Dividend Circular will be posted to all Shareholders on 8(th) June
2023 in respect of the financial year ended 31(st) December 2022 and will be
available from that date on the Company's website
(www.mfg.im/investor-centre/aim-rule-26
(http://www.mfg.im/investor-centre/aim-rule-26) - Circulars Section).

 

The reference price for the Scrip Shares will be calculated and published on
or around 19(th) June 2023. Admission of the Scrip Shares to trading on AIM is
anticipated to be 19(th) July 2023.

 

Shareholders will receive the dividend in cash unless they have completed the
Scrip Dividend Mandate (for holders of Ordinary Shares in certificated form)
or a CREST Dividend Election Input Message (for holders of Ordinary Shares in
CREST only).

 

Expected timetable:

 

     Shares quoted ex-dividend                                                         15(th) June 2023

     Record date for dividend                                                          16(th) June 2023

     Scrip Price Announcement                                                          19(th) June 2023

     Final time and date for receipt of Scrip Dividend Mandates and submission of      5.00 p.m. London time on 30(th) June 2023
     CREST elections

     Dividend Payment                                                                  19(th) July 2023

     CREST stock account credited with new Ordinary Shares                             19(th) July 2023

      Admission of the Scrip Shares to trading on AIM                                  19(th) July 2023

 

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 Browlee

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

 Tel: +44 (0) 1624 694694

 

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