Business
Exercise of Share Options & Employee RSU Award
Exercise of Share Options & Employee RSU Award.
About this update from Manx Financial Group Plc
[{"type":"text","content":"\n\n5 December 2023\n \nManx Financial Group PLC (\"the Group\")\n \nExercise of Share Options and Director Dealings\nIssue of Equity, TVR and Employee RSU Award\n \nManx Financial Group PLC (AIM:MFX), the holding company providing a range of diversified financial services to the Isle of Man and the United Kingdom, announces that on 30 November 2023, Douglas Grant, Chief Executive Officer, exercised options over 700,000 ordinary shares of no par value (\"New Ordinary Shares\") in the Company (the \"Options\"), at an exercise price of 14 pence per New Ordinary Share, for an aggregate consideration of £98,000.\nThe Options were granted on 23 June 2014, and were due to lapse on 22 June 2024.\nFollowing Admission (as defined below), Douglas Grant's resultant interest in the Company will be as follows:\n\n\n\n\nDirector/PDMR\n\n\nDate of transaction\n\n\nNumber of shares purchased via Option exercise\n\n\nPurchase price\n\n\nTotal shares held\n\n\nPercentage of issued share capital\n\n\n\n\nDouglas Grant\n\n\n30-Nov-23\n\n\n700,000\n\n\n14p\n\n\n1,243,129\n\n\n1.07%\n\n\n\n\n \nAdmission\nApplication has been made to the London Stock Exchange for the 700,000 New Ordinary Shares to be admitted to trading on AIM (\"Admission\") and it is expected that Admission will become effective and trading will commence at 8.00 a.m. on 8 December 2023.\nFollowing Admission, the total number of Ordinary Shares in issue will be 116,191,936 and the total number of voting rights will therefore be 116,191,936. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.\nRestricted Share Units\nThe Company also announces that on 29 November 2023, a further 2,252,500 Restricted Share Units (\"RSUs\") were awarded under its 2022 Restricted Share Unit Plan, approved at the Company's 2022 Annual General Meeting. Of these, 850,000 are awarded to the Company's Chief Executive Officer, Douglas Grant; 300,000 to James Smeed, the Company's Finance Director; 300,000 to Haseeb Qureshi, Branch Director UK, and the remaining 802,500 to certain employees. The RSUs have a 2-year term and are subject to certain vesting conditions based ...