Result of AGM and Dividend Declaration

Manx Financial Group PLC

30 May 2023

 

FOR IMMEDIATE RELEASE                                                                                                     30^th May 2023

Manx Financial Group PLC (the "Company")

Result of Annual General Meeting ("AGM")

Dividend Declaration

The Company is pleased to announce that at the AGM held today all resolutions tabled were duly passed.

As a consequence, the Company is pleased to announce a dividend of 0.3764 pence per Ordinary Share for the period from 1^st January 2022 to 31^st December 2022, calculated as being 10% of the profit after tax available to Shareholders.  The dividend will be paid on 19^th July 2023 to holders of Ordinary Shares recorded on the register on 16^th June 2023.

The Company is also offering a Scrip Dividend Scheme under which Shareholders may elect to receive New Ordinary Shares in lieu of the cash dividend ("Scrip Shares").  The price of the New Shares to be issued under the Scrip Dividend Scheme will be calculated taking the lowest daily Volume Weighted Average Price ("VWAP") derived from the Daily Official List of the London Stock Exchange plc during the period of twenty dealing days prior to (and including) the Ex-Dividend Date (capped at 20% discount to the VWAP of Ordinary Shares on the Ex-Dividend Date).

A Scrip Dividend Circular will be posted to all Shareholders on 8^th June 2023 in respect of the financial year ended 31^st December 2022 and will be available from that date on the Company's website (www.mfg.im/investor-centre/aim-rule-26 - Circulars Section).

The reference price for the Scrip Shares will be calculated and published on or around 19^th June 2023. Admission of the Scrip Shares to trading on AIM is anticipated to be 19^th July 2023.

Shareholders will receive the dividend in cash unless they have completed the Scrip Dividend Mandate (for holders of Ordinary Shares in certificated form) or a CREST Dividend Election Input Message (for holders of Ordinary Shares in CREST only).

Expected timetable:

	Shares quoted ex-dividend		15th June 2023
	Record date for dividend		16th June 2023
	Scrip Price Announcement		19th June 2023
	Final time and date for receipt of Scrip Dividend Mandates and submission of CREST elections		5.00 p.m. London time on 30th June 2023
	Dividend Payment		19th July 2023
	CREST stock account credited with new Ordinary Shares		19th July 2023
	Admission of the Scrip Shares to trading on AIM		19th July 2023

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 Browlee Tel: [phone]

 

END