Update on Open Offer

RNS Number : 9899N

Manx Financial Group PLC

22 June 2010

 



FOR IMMEDIATE RELEASE                                                                     22 June 2010

Manx Financial Group PLC (the 'Company')

Update on Open Offer

Update on Open Offer of up to 21,138,817 New Ordinary Shares at 9 pence per share on the basis of 1 New Ordinary Share for every 3 Existing Ordinary Shares (the "Open Offer")

Manx Financial Group PLC announces that the excess applications for 12,803,453 New Ordinary Shares have been scaled down to 6,992,291 New Ordinary Shares (the 'Excess Allocation Shares').  The Excess Allocation Shares have been allocated on the following basis;-

o  As stated in the Open Offer document, smaller shareholders were to be given priority when apportioning the remaining available shares.  Smaller shareholders have been defined as existing shareholders with less than 0.5% of the issued share capital as at the offer date.  Those smaller shareholders who applied for shares in excess of their entitlement have been satisfied in full. 

o  The remaining shareholders who applied for shares in excess of their entitlement have received 0.4276 New Ordinary Shares for every excess share applied for.

Following this scaling down the Company has allotted 21,138,277 new shares.  Therefore the total number of Ordinary Shares in issue in the Company is now 84,554,727.

Shares will be admitted to AIM and dealings will commence at 8.00 am on 22^nd June 2010.

Any announcements relating to changes in the directors' shareholdings and those of other notifiable parties will be released tomorrow.

Contacts

Manx Financial Group PLC

Denham Eke, Chief Executive

Tel:  [phone]

Beaumont Cornish Limited

Roland Cornish

Tel:  [phone]

Britton Financial PR

Tim Blackstone

Tel  [phone]

 

END

 

 

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