Grant of Restricted Share Units

RNS Number : 2457E

Manx Financial Group PLC

27 October 2022

 

FOR IMMEDIATE RELEASE  9.00am 27 October 2022

Manx Financial Group PLC (the 'Company')

Grant of Restricted Share Units

Director's Dealing

Manx Financial Group PLC announces that on 27 October 2022, the Company granted Restricted Share Units ("RSUs") under its 2022 Restricted Share Unit Plan. This plan was considered and approved at the Company's 2022 Annual General Meeting.

The Company has issued a further 315,000 RSUs, with 150,000 being issued to the Company's Chief Executive Officer. Douglas Grant, and 165,000 to certain employees. The RSUs have a 2-year term and are subject to certain vesting conditions based upon an overall increase 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. 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.

As a result, the Company has now issued 2,435,000 RSUs in total which represents 2.1% of the issued share capital of the Company.

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 issued a further 150,000 RSUs, bringing his total entitlement to 1,075,000. He currently owns 533,951 Ordinary Shares in the Company representing a holding of 0.46%. Including 700,000 Share Options issued 24 June 2014, he would hold a total of 2,308,951 Ordinary Shares on a fully diluted basis, being 1.95% 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 PLC Denham Eke, Executive Vice Chairman Tel [phone]

Beaumont Cornish Limited Roland Cornish/James Biddle Tel [phone]

Greentarget Limited Jamie Brownlee Tel [phone]

 

END

 

 

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