MANX FINANCIAL GROUP PLC — AGM Information 2024

Apr 25, 2024

National Storage Mechanism | Additional information

RNS Number : 0923M

Manx Financial Group PLC

25 April 2024

25th April 2024

Manx Financial Group PLC (the "Company")

Result of Annual General Meeting ("AGM")

Dividend Declaration

The Company is pleased to announce that at the AGM held today all resolutions tabled were duly passed.

As a consequence, the Company is pleased to announce a dividend of 0.4551 pence per Ordinary Share for the period from 1st January 2023 to 31st December 2023, calculated as being 10% of the profit after tax available to Shareholders.  The dividend will be paid on 24th June 2024 to holders of Ordinary Shares recorded on the register on 17th May 2024.

The Company is also offering a Scrip Dividend Scheme under which Shareholders may elect to receive New Ordinary Shares in lieu of all or part of the cash dividend ("Scrip Shares").  The price of the New Shares to be issued under the Scrip Dividend Scheme will be calculated taking the lowest daily Volume Weighted Average Price ("VWAP") derived from the Daily Official List of the London Stock Exchange plc during the period of twenty dealing days prior to (and including) the Ex-Dividend Date (capped at 20% discount to the VWAP of Ordinary Shares on the Ex-Dividend Date).

A Scrip Dividend Circular will be posted to all Shareholders on 8th May 2024 in respect of the financial year ended 31st December 2023 and will be available from that date on the Company's website (www.mfg.im/investor-centre/aim-rule-26 - Circulars Section).

The reference price for the Scrip Shares will be calculated and published on or around 24th May 2024. Admission of the Scrip Shares to trading on AIM is anticipated to be 24th June 2024.

Shareholders will receive the dividend in cash unless they have completed the Scrip Dividend Mandate (for holders of Ordinary Shares in certificated form) or a CREST Dividend Election Input Message (for holders of Ordinary Shares in CREST only).

Expected timetable:

Shares quoted ex-dividend	16th May 2024
Record date for dividend	17th May 2024
Scrip Price Announcement	24th May 2024
Final time and date for receipt of Scrip Dividend Mandates and submission of CREST elections	5.00 p.m. London time on 7th June 2024
Dividend Payment	24th June 2024
CREST stock account credited with new Ordinary Shares	24th June 2024
Admission of the Scrip Shares to trading on AIM	24th June 2024

The Company also takes this opportunity to advise that it has identified an error in the Table of Directors' emoluments on page 36 of the Company's Consolidated Annual Financial Statements 2023 whereby the total remuneration/ fees for the Directors was overstated by a total of £50,000. Whilst the error is not material and has no impact on the figures reported by the Company, for completeness the correct Tables of Director's emoluments is included as an Appendix to this announcement.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

For further information, please contact:

Manx Financial Group PLC Denham Eke, Executive Vice Chairman Tel: +44 (0) 1624 694694	Beaumont Cornish Limited Roland Cornish/James Biddle Tel: +44 (0) 20 7628 3396	Greentarget Limited Jamie Brownlee Tel: +44 (0) 20 3307 5726

Appendix

Directors' Emoluments	Remuneration /  Fees £	Performance Related Pay £	P ension £	2023 £	2022 £
Executives
Jim Mellon	53,725	-	-	53,725	51,458
Denham Eke	53,725	-	-	53,725	51,458
Douglas Grant	282,208	75,000	28,221	385,429	327,393
James Smeed	168,468	23,500	16,771	208,739	187,813
	558,126	98,500	44,992	701,618	618,123
Non-executives
Gregory Bailey	27,000	-	-	27,000	25,758
Alan Clarke	54,708	-	-	54,708	46,342
Gregory Jones	46,667	-	-	46,667	41,167
John Spellman	91,400	-	-	91,400	87,508
	219,775	0	0	219,775	200,775
Aggregate emoluments	777,901	98,500	44,992	921,393	818,898

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