Manx Financial Group PLC Dividend Scheme Announced (6014J)
December 23 2020 - 2:00AM
UK Regulatory
TIDMMFX
RNS Number : 6014J
Manx Financial Group PLC
23 December 2020
For immediate release: 23 December 2020:
Manx Financial Group PLC
("MFG" or the "Company")
Dividend Scheme Announced
The Board of MFG is pleased to announce that it has approved the
introduction of a Dividend Scheme ("Scheme"). The Scheme will
provide eligible shareholders with an opportunity to elect either
to be issued with New Shares instead of a cash dividend or,
alternatively, a cash dividend in respect of all dividends for
which the Scheme is offered. The inaugural dividend, subject to the
Scheme's terms, will be announced at the Company's 2021 Annual
General Meeting and will be based on a percentage of the audited
profit after tax for the year ending 2020.
The script option will enable eligible shareholders to increase
their holding in the Company in a simple, cost effective way, by
receiving New Shares instead of cash. This will also allow the
Company to retain the cash in the business that would otherwise be
paid as a dividend, aiding further growth. The New Shares will rank
equally with the existing Ordinary Shares in all respects.
The Terms and Conditions of the Scheme will be available on the
Company's website - www.mfg.im .
Jim Mellon, Executive Chairman, commented: -
"I am extremely pleased that Manx Financial Group plc will
return to the dividend list after an absence of fifteen years. This
initiative both expresses the confidence that the Board has for the
Company's future and also allows us to reward our loyal
shareholders with a tangible benefit for their continued
support".
This announcement contains inside information for the purposes
of Article 7 of EU Regulation No. 596/2014 on market abuse. Upon
the publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain .
For further information, please contact:
Manx Financial Group Beaumont Cornish Limited Greentarget Limited
PLC Roland Cornish/James Dafina Grapci-Penney
Denham Eke, Chief Executive Biddle Tel +44 (0) 203 963
Tel +44 (0)1624 694694 Tel +44 (0) 20 7628 1887
3396
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END
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