TIDMMFX
RNS Number : 6234V
Manx Financial Group PLC
05 December 2023
5 December 2023
Manx Financial Group PLC ("the Group")
Exercise of Share Options and Director Dealings
Issue of Equity, TVR and Employee RSU Award
Manx Financial Group PLC (AIM:MFX) , the holding company
providing a range of diversified financial services to the Isle of
Man and the United Kingdom , announces that on 30 November 2023,
Douglas Grant, Chief Executive Officer, exercised options over
700,000 ordinary shares of no par value ("New Ordinary Shares") in
the Company (the "Options"), at an exercise price of 14 pence per
New Ordinary Share, for an aggregate consideration of
GBP98,000.
The Options were granted on 23 June 2014, and were due to lapse
on 22 June 2024.
Following Admission (as defined below), Douglas Grant's
resultant interest in the Company will be as follows:
Director/PDMR Date Number Purchase Total Percentage
of transaction of shares price shares of issued
purchased held share
via capital
Option
exercise
Douglas
Grant 30-Nov-23 700,000 14p 1,243,129 1.07%
----------------- ----------- --------- ---------- -----------
Admission
Application has been made to the London Stock Exchange for the
700,000 New Ordinary Shares to be admitted to trading on AIM
("Admission") and it is expected that Admission will become
effective and trading will commence at 8.00 a.m. on 8 December
2023.
Following Admission, the total number of Ordinary Shares in
issue will be 116,191,936 and the total number of voting rights
will therefore be 116,191,936. This figure may be used by
shareholders 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 share capital of the Company
under the FCA's Disclosure and Transparency Rules.
Restricted Share Units
The Company also announces that on 29 November 202 3, a further
2,252,500 Restricted Share Units ("RSUs") were awarded under its
2022 Restricted Share Unit Plan, approved at the Company's 2022
Annual General Meeting. Of these, 850,000 are awarded to the
Company's Chief Executive Officer, Douglas Grant; 300,000 to James
Smeed, the Company's Finance Director; 300,000 to Haseeb Qureshi,
Branch Director UK, and the remaining 802,500 to certain employees.
The RSUs have a 2-year term and are subject to certain vesting
conditions based upon overall profitability of the Company, the
satisfaction of individual performance targets and other metrics.
Any RSUs granted will fall away should the recipient leave
employment before the 2-year term expires. Should the individual
vesting conditions be satisfied in full at the end of the term, the
stock will be granted at nil cost.
As a result, the Company has now awarded 4,687,500 RSUs in total
which represents 4.1% of the issued share capital of the
Company.
Following these awards, the details pursuant to the AIM
disclosure and Market Abuse Regulations of the PDMR who received
the RSUs are as follows:
-- Douglas Grant, a director of the Company, was awarded a
further 8 50,000 RSUs, bringing his total entitlement to 1, 925
,000. Including the 1,243,129 Ordinary Shares in the Company he
currently owns, he would hold a total of 3,168,129 on a fully
diluted basis, being 2.0% of the new issued share capital of the
Company.
-- James Smeed, a director of the Company, was awarded a further
300,000 RSUs, bringing his total entitlement to 475,000. Should
these vest in full, he would own 0.3 % of the diluted issued share
capital of the Company
-- Haseeb Qureshi, a Person Discharging Managerial
Responsibilities on behalf of the Company, was awarded a further
300,000 RSUs, bringing his total entitlement to 500,000. Should
these vest in full, he would own 0.3% of the diluted 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 Jamie Brownlee
Denham Eke, Biddle Tel +44 (0) 203 307
Executive Vice Chairman Tel +44 (0) 20 7628 5726
Tel +44 (0)1624 694694 3396
APPENDIX
Market Abuse Regulation (MAR) Disclosure
The information set out below is provided in accordance with the
requirements of Article 19(3) of the Market Abuse Regulations (EU)
No. 596/2014 which forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR').
Notification and Public Disclosure of Transactions by Persons
Discharging Managerial Responsibilities and Persons Closely
Associated with Them.
Details of the person discharging managerial responsibilities
1
a) Name Douglas Grant
================================ =======================================
Reason for the notification
2
=========================================================================
a) Position/status Chief Executive Officer
================================ =======================================
b) Initial notification Initial notification
/Amendment
================================ =======================================
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
=========================================================================
a) Name Manx Financial Group PLC
================================ =======================================
b) LEI 213800R151BAZRATR333
================================ =======================================
Details of the transaction(s): section to be repeated for (i)
4 each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been conducted
=========================================================================
a) Description of the Ordinary Shares of no par value
financial instrument,
type of instrument
Identification code IM00B28ZPX83
================================ =======================================
b) Nature of the transaction Exercise of Options
================================ =======================================
c) Price(s) and volume(s) Price(s) Volume(s)
14.0p 700,000
==========
--- -------------------------------- ---------------------------------------
d) Aggregated information
Price(s) Volume(s)
- Aggregated volume 14.0p 700,000
==========
- Price
-------------------------------- ---------------------------------------
e) Date of the transaction 30/11/23
================================ =======================================
f) Place of the transaction AIMX
================================ =======================================
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END
DSHBRBDDLGGDGXS
(END) Dow Jones Newswires
December 05, 2023 02:00 ET (07:00 GMT)
Manx Financial (LSE:MFX)
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