Issue of Equity

RNS Number : 3250E

Manx Financial Group PLC

05 April 2011

 



FOR IMMEDIATE RELEASE                                                                       5.4.2011

MANX FINANCIAL GROUP PLC (the 'Company')

Issue of Equity

Manx Financial Group PLC announces that on 4 April 2011 a total of 1,383,399 new Ordinary Shares were issued to David Hathersich-Jones and Stephen Locking at a price of 12.65p.  The new shares have been issued as part of the deferred consideration element of the Edgewater Associates Limited acquisition payable on the approval of the 31^st December 2010 accounts.  The Consideration Shares were issued on the basis of the mean average offer price of the Group's ordinary shares for the five business days immediately proceeding the date of the signing of the accounts. 

This will take the total number of shares in issue to 89,570,252.

Application has been made for 1,383,399 new Ordinary Shares to be admitted to trading on AIM.  It is expected that Admission will become effective on 8 April 2011.  The New Ordinary Shares will, following allotment, rank pari passu in all respects with the existing issued Ordinary Shares.

Mr Hathersich-Jones received 1,118,577 new shares.  As a result the total number of ordinary shares of the Company in which Mr Hathersich-Jones has a beneficial interest in is 4,154,291 (3,344,291 held in his own name and 810,000 in the Balley Chashtal SIPP) representing 4.64% of the ordinary share capital of the Company.

For further information, please contact:

Manx Financial Group PLC

Denham Eke

Tel [phone]

Beaumont Cornish Limited

Roland Cornish

Tel [phone]

Britton Financial PR

Tim Blackstone

Tel [phone]

 

END

 

 

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