Manx Financial Group PLC Grant of Restricted Share Units (5993R)
07 July 2022 - 4:00PM
UK Regulatory
TIDMMFX
RNS Number : 5993R
Manx Financial Group PLC
07 July 2022
7 July 2022
Manx Financial Group PLC (the 'Group')
Grant of Restricted Share Units
Manx Financial Group PLC announces that on 5 July 2022, the
Group granted Restricted Share Units ("RSUs") under its 2022
Restricted Share Unit Plan. This plan was considered and approved
by shareholders at the Group's 2022 Annual General Meeting.
The Group has issued, in total, RSUs over 2,120,000 ordinary
shares representing 1.8% of the issued share capital of the Group
with 1,100,000 to certain directors and 1,020,000 to certain
employees. The RSUs will have a 2-year term and are subject to
certain vesting conditions based upon an overall growth in
profitability, both at the Group and Company level, the
satisfaction of individual performance targets and other metrics,
including the achievement of additional sources of liquidity for
increased lending requirements. Any RSUs granted will fall away
should the recipient leave employment before the 2-year term
expires. Should the individual vesting conditions be satisfied at
the end of the term, the stock will be granted at nil cost.
The directors who received RSUs are as follows:
-- Douglas Grant, Group Chief Executive Officer, who currently
owns 533,951 ordinary shares in the Company representing a holding
of 0.46% was issued 925,000 RSUs. Including 700,000 Share Options
issued 24 June 2014, he would hold a total of 2,158,951 ordinary
shares, being 1.8% of the issued share capital of the Company on a
fully diluted basis.
-- James Smeed, Group Finance Director, was issued 175,000 RSUs.
On the same basis, he would hold 0.15% of the new issued share
capital of the Company.
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 Beaumont Cornish Limited Greentarget Limited
PLC Roland Cornish/James Dafina Grapci-Penney
Denham Eke, Biddle Tel +44 (0) 203 963
Executive Vice Chairman Tel +44 (0) 20 7628 1887
Tel +44 (0)1624 694694 3396
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END
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