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
Denham Eke,
Executive Vice Chairman
Tel +44 (0)1624 694694
|
Beaumont Cornish Limited
Roland Cornish/James
Biddle
Tel +44 (0) 20 7628 3396
|
Greentarget Limited
Jamie
Brownlee
Tel: +44 (0) 20 3307
5726
|