Manx Financial Group Plc (LON:MFX), the holding company providing a range of diversified financial services to the Isle of Man and the United Kingdom, has announced that following the satisfaction of the vesting criteria, it has received and accepted requests to exercise Restricted Stock Units over 2,072,500 ordinary shares of no par value at nil cost in the Company.
Douglas Grant and James Smeed, Directors of the Company, have elected to be issued with 850,000 and 300,000 New Ordinary Shares of no par value respectively at nil cost. Haseeb Qureshi, a Person Discharging Managerial Responsibilities within the Company has elected to be issued 300,000 New Ordinary Shares of no par value at nil cost.
The Restricted Stock Units were granted on 29 November 2023 (see announcement of 5 December 2023) and are due to lapse on 29 November 2033.
Following Admission (as defined below), the resultant interests in the Company for Douglas Grant, James Smeed and Haseeb Qureshi will be as follows:
| Director/PDMR | Date of transaction | Number of shares purchased via Option exercise | Purchase price | Total shares held | Percentage of issued share capital |
| Douglas Grant | 23 December 2025 | 850,000 | nil | 3,258,212 | 2.65% |
| Haseeb Qureshi | 23 December 2025 | 300,000 | nil | 500,000 | 0.41% |
| James Smeed | 23 December 2025 | 300,000 | nil | 500,000 | 0.41% |
Application has been made to the London Stock Exchange for the 2,027,500 New Ordinary Shares to be admitted to trading on AIM and it is expected that Admission will become effective and trading will commence on 23 December 2025.
TVR
Following the issue of the New Ordinary Shares and Allotment, the Company’s issued share capital will consist of 122,950,726 Ordinary Shares of no-par value with voting rights. The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 122,950,726.
The figure of 122,950,726 Ordinary Shares may be used by shareholders in the Company from the date of admission 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 shares of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
