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

Manx FinancialAnnouncement

19/06/2024 14:45

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RNS Number : 1009T  Manx Financial Group PLC  19 June 2024

FOR IMMEDIATE
RELEASE
19 June 2024

 

 

Manx Financial Group PLC (the "Company")

 

Issue of Ordinary Shares pursuant to the Scrip Dividend

and Total Voting Rights

 

Further to the notification made on 24 May 2024 in relation to the Scrip
Dividend, the Company announces that it has received valid elections from
shareholders resulting in a requirement to issue 1,013,821 New Ordinary Shares
("New Shares") at a price of 19.0 pence per share.

 

Jim Mellon and Dr Gregory Bailey, both Directors and significant shareholders
of the Company, have elected to be issued 391,160 and 324,153 Ordinary Shares
of no par value ("Ordinary Shares") respectively at a price of 19.00 pence per
share representing their partial Script Dividend entitlements, thus
maintaining their joint percentage holding under the Concert Party whitewash
waiver approved on 9 April 2020. Douglas Grant and Alan Clarke, also Directors
of the Company, 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 1,013,821 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 25 June 2024.

 

Following the issue of the New Shares and Additional Allotment, the Company's
issued share capital consists of 117,555,757 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 117,555,757.

 

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)      391,160              22,139,374                   18.83%
 Gregory Bailey (2)  324,153              18,346,827                   15.61%
 Douglas Grant (3)   29,775               1,272,904                    1.08%
 Alan Clarke         1,341                55,994                       0.05%

 

(1)     Burnbrae Limited holds 19,811,392 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 18,346,827 Ordinary Shares in trust
for Gregory Bailey.

(3)     Douglas Grant holds 556,138 Ordinary Shares in his own name and
716,766 Ordinary shares in his SIPP.

 

Total Voting Rights

 

The figure of 117,555,757 Ordinary Shares may be used by shareholders in the
Company 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 Company 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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