Grant of Employee Options

RNS Number : 3238K

Manx Financial Group PLC

24 June 2014

 



FOR IMMEDIATE RELEASE                                                                                24 June 2014

Manx Financial Group PLC (the 'Company')

Grant of Employee Options

Manx Financial Group PLC announces that on 23 June 2014 the Company granted share options over 1,750,000 Ordinary Shares of no par value. If fully exercised, the options would represent 1.69% of the enlarged issued share capital of the Company ^{(Note: 1)}. The exercise price of the option is 14 pence, being a premium of 3.54% over the volume weighted average share price over the previous 30 days and a premium to the closing price of 13.88p on 23 June 2014. The options vest after three years.

The grant comprised of:-

·      700,000 share options for Juan Kelly, Group Director and Managing Director of Conister Bank Limited

·      700,000 share options for Douglas Grant, Group Chief Finance Officer and Group Director

·      350,000 share options for Sandra Cardwell, Director of Edgewater Associates Limited

They were granted under the Manx Financial Group PLC Employee Share Option Scheme 2007 (as amended).

Juan Kelly, who currently owns 27,860 ordinary shares in the Company representing a holding of 0.02%. On a diluted basis, as above, he would hold a total of 727,860 ordinary shares, being 0.70% of the new issued share capital of the Company.

Douglas Grant, who currently owns 680,821 ordinary shares in the Company representing a holding of 0.66%. On a diluted basis, as above, he would hold a total of 1,723,287 ordinary shares, being 1.65% of the new issued share capital of the Company.

Note 1: The calculation is based upon all current options granted being exercised. In this case, the subscription would generate £298,740 for the Company.

Contacts:

Manx Financial Group PLC

Denham Eke, Chief Executive

Tel: [phone]

Beaumont Cornish Limited

Roland Cornish/Felicity Geidt

Tel: [phone]

Britton Financial PR

Tim Blackstone

Tel [phone]

 

END

 

 

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