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LONDON - Manx Financial Group PLC announced Thursday it will issue 1,162,469 new ordinary shares at 26.349 pence per share following valid scrip dividend elections from shareholders.
The new shares, which will rank equally with existing ordinary shares, are expected to be admitted to trading on AIM around November 20, 2025, according to a company press release.
Among those electing to receive shares instead of cash dividends were company directors Jim Mellon and Dr. Gregory Bailey, who will receive 214,983 and 178,156 new shares respectively. This maintains their joint percentage holding under a concert party whitewash waiver approved in April 2020. Director Douglas Grant will receive 60,308 new shares.
Following the issuance, Manx Financial Group's total issued share capital will consist of 120,878,226 ordinary shares with voting rights. The company confirmed it holds no shares in treasury.
The updated shareholdings show Mellon controlling 18.49% of the company's issued share capital, with his interests held through Burnbrae Limited and Vidacos Nominees Limited. Bailey holds 15.33% through Vidacos Nominees Limited, while Grant's 1.96% stake is held in his SIPP.
The company has applied for the new shares to be admitted to trading on AIM.
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