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 25^th 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 25^th 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:

o  375,342 share options for Mr Simon Hull, Director

o  342,466 share options for Mr Douglas Grant, Director

o  225,753 share options for Mr Nick Sheard, Director

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

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

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

o  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:  [phone]

Beaumont Cornish Limited

Roland Cornish

Tel:  [phone]

Britton Financial PR

Tim Blackstone

Tel  [phone]

 

END

 

 

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