Issue of Equity and Grant of

RNS Number : 4193O
Manx Financial Group PLC
29 June 2010
 



FOR IMMEDIATE RELEASE                                                     29 June 2010

 

 

Manx Financial Group PLC (the 'Company')

 

Issue of Shares & Grant of Share Options

 

 

Issue of Shares

 

Manx Financial Group PLC announces that on 25th June 2010 a total of 239,269 new Ordinary Shares were issued to two Executive directors in lieu of salary.  The new shares have been issued in respect of 10% of directors' remuneration for June 2009 to June 2010 inclusive.  The volume weighted average issue price in respect of each director was 10.95p.

 

This will take the total number of shares in issue to 84,793,996.

 

Application has been made for 239,269 new Ordinary Shares to be admitted to trading on AIM. It is expected that Admission will become effective on 5 July 2010.  The New Ordinary Shares will, following allotment, rank pari passu in all respects with the existing issued Ordinary Shares

 

Mr Douglas Grant received 114,155 new shares.  As a result the total number of ordinary shares of the Company in which Mr Grant has a beneficial interest is 580,821 representing 0.68% of the ordinary share capital of the Company.

 

Mr Simon Hull received 125,114 new shares registered in the name of Barclays Nominees Ltd.

 

Barclays Nominees Ltd now holds a total of 143,713 ordinary shares on trust for Mr Simon Hull and Mrs Christine Hull representing 0.17% of the issued ordinary share capital of the Company. 

 

In addition, Rene Nominees (IOM) Limited also holds 390,588 ordinary shares on behalf of The Silverlight Self Invested Personal Pension Scheme representing 0.46% of the Ordinary Share Capital of the Company.  The Silverlight Self Invested Personal Pension Scheme is an irrevocable trust of which Mr Simon Hull, Director of the Company, is a member and beneficiary.

 

The total ordinary shares in which Mr Hull has a beneficial interest in is 534,301 representing 0.63% of the issued ordinary share capital of the Company. 

 

 

Grant of Options

 

On 25th June 2010 the Company also granted share options over 1,410,447 Ordinary Shares of no par value, representing 1.66% of the new issued share capital of the Company.  The exercise price of the options is 10.95p and they are exercisable on certain performance criteria being met.  The grant comprised:

 

375,342 share options for Mr Simon Hull, Director

342,466 share options for Mr Douglas Grant, Director

225,753 share options for Mr Nick Sheard, Director

131,098 share options for Mr Simon Ripton, Head of Sales & Marketing

107,478 share options for Mr Tim Bliss, Head of IT

127,854 share options for Mr John Tottenham, Head of Card Operations

100,457 share options for Mr Craig Allen, Head of Operations & Customer Services

 

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

 

 

 

 

Contacts

 

Manx Financial Group PLC

 

Denham Eke, Chief Executive

Tel:  01624 694694

 

Beaumont Cornish Limited

Roland Cornish

Tel:  0207 628 3396

 

Britton Financial PR

 

Tim Blackstone

Tel  07957 140416


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCKKCDQKBKDAAB
UK 100