Exercise of Restricted Stock Units & TVR
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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 following the satisfaction of the vesting criteria, it has received and accepted requests to exercise Restricted Stock Units over 240,000 ordinary shares of no par value ("New Ordinary Shares") at nil cost in the Company.
Douglas Grant, a Director of the Company, has elected to be issued 150,000 New Ordinary Shares of no par value respectively at nil cost. Haseeb Qureshi, a Person Discharging Managerial Responsibilities within the Company has elected to be issued 50,000 New Ordinary Shares of no par value at nil cost.
The Restricted Stock Units were granted on 27 October 2022 (see announcement of 27 October 2022) and are due to lapse on 27 October 2032.
Following Admission (as defined below), the resultant interests in the Company for Douglas Grant and Haseeb Qureshi will be as follows:
| Director/PDMR | Date of transaction | Number of shares purchased via Option exercise | Purchase price | Total shares held | Percentage of issued share capital |
|---|---|---|---|---|---|
| Douglas Grant | 6 November 2024 | 150,000 | nil | 2,347,904 | 1.96% |
| Haseeb Qureshi | 6 November 2024 | 50,000 | nil | 200,000 | 0.17% |
Application has been made to the London Stock Exchange for the 240,000 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective and trading will commence on 6 November 2024.
Following the issue of the New Ordinary Shares and Allotment, the Company's issued share capital will consist of 119,715,757 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 will be 119,715,757.
The figure of 119,715,757 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.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Douglas Grant |
| 2. | Reason for the notification | |
| a) | Position/status | CEO |
| b) | Initial notification/Amendment | Initial Notification |
| a) | Name | Manx Financial Group PLC |
| b) | LEI | 213800R151BAZRATR333 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of no par value |
| b) | Identification code | IM00B28ZPX83 |
| c) | Nature of the transaction | Exercise of 150,000 Restricted Stock Units |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Haseeb Qureshi |
| 2. | Reason for the notification | |
| a) | Position/status | PDMR |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Manx Financial Group PLC |
| b) | LEI | 213800R151BAZRATR333 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of no par value |
| b) | Identification code | IM00B28ZPX83 |
| c) | Nature of the transaction | Exercise of 50,000 Restricted Stock Units |
Nominated Adviser
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