Financial Information

Information on this section of our website is included to comply with the requirements of Rule 26 of the AIM Rules for Companies - 'Company Information Disclosure'.

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2017 full year preliminary announcement
March 2018

Financial Calendar

latest documents

2017 Interim Results Presentation

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Business Description

Manx Telecom is the leading communication solutions provider on the Isle of Man. The Group offers a wide range of fixed line, broadband, mobile and data centre services to businesses, consumers and the public sector on the Isle of Man. The Group also provides a growing portfolio of innovative solutions to offshore customers.

The Group is headquartered and domiciled in Douglas, the Isle of Man capital, and reports its revenue in five categories, namely:

  • fixed line, broadband and data
  • mobile
  • global solutions
  • data centre
  • other

In the fixed line business, the Group serves almost all of the existing available residential and business customers in the Isle of Man, and it also provides a substantial proportion of the Island’s existing available customers with broadband and mobile services. In the data centre sector, the Directors believe that the Group operates the majority of the existing capacity on the Isle of Man, serving customers both on and off the Island. Manx Telecom is incorporated and registered in the Isle of Man, which is also its main country of operation.

Directors

Kevin Walsh
Non-Executive Chairman

Kevin was an Executive Director of KCOM Group plc, having joined the group in 2000 and the board in May 2004 he retired in July 2014. He had responsibility for the management of the KC brand, which has outperformed the market in recent years. He was the lead executive responsible for the successful deployment of KC’s fibre roll-out, which saw take up rates twice that seen elsewhere. Prior to joining the KCOM Group plc Kevin was Managing Director of a new media start-up company and held a number of senior director roles within the Electrolux group.

Gary Lamb
Chief Executive Officer

Gary Lamb joined the business in October 2011 as Finance Director and was promoted to Chief Executive Officer in July 2015. Gary is a qualified accountant (CIMA) who has gained extensive business experience over the past 20 years in numerous senior roles. Prior to joining Manx Telecom, Gary was a Founder Director of Bladon Jets Limited, which is one of the Isle of Man’s newest, high profile innovative companies with acclaim and publicity for its partnership with Jaguar Land Rover and use of its gas turbine engines in the Jaguar CX-75 Supercar, and he is still a Non-Executive Director at the company. For 11 years, prior to Bladen Jets, Gary was the Finance & IT Director of Strix Limited, a world leading innovator and manufacturer of thermostatic controls for water boiling appliances. Gary was a key member of a successful team that delivered impressive growth and played a leading role in two leveraged MBO sales to private equity houses.

Jeffrey Hume
Senior Independent Non-Executive Director

Jeffrey Hume joined the business in January 2013 as a Non-Executive Director of Manx Telecom Holdings Ltd and Chairman of its Audit Committee. He is the Senior Independent Director of Hyder Consulting plc, Deputy Chairman of the Dover Harbour Board and an Independent Director of the housing association Moat Homes Ltd. He is also a member of the London Stock Exchange’s Primary Markets Group. He is a Fellow of both the Institute of Chartered Accountants and the Association of Corporate Treasurers. He is a former Independent Director of Heath Lambert Insurance Brokers and a former Group Finance Director of TDG plc, AWG plc, Alfred McAlpine plc and Howden Group plc. He previously held senior management and financial positions in Hawker Siddeley Group plc.

Chris Hall, Independent Non-Executive Director

Chris Hall
Independent Non-Executive Director

Chris Hall is a known and respected member of the Isle of Man business community, having previously held the position of Managing Director at Manx Telecom until 2011.  Since then Chris has developed a wide portfolio of business interests including the running of his own consulting business, managing projects for the Isle of Man Government, telecoms service providers and high-tech companies.  He is currently a Non Executive Director of several Manx based companies including AXA Isle of Man Ltd, SiRRAN Communications Ltd, Isansys Ltd and ManSat Ltd. Active in the local community, Chris is also a Non Executive Director of the Manx ICT Association, Hospice Isle of Man and he is also Chairman of the Isle of Man e-Gaming Strategic Advisory Board

 

Corporate Governance

Manx Telecom applies the principles of the QCA Code of corporate governance, and is subject to the City Code on takeovers and mergers.

The Company has established audit and remuneration committees of the Board with formally delegated duties and responsibilities.

The Audit Committee has a primary responsibility for monitoring the quality of internal controls and ensuring that the financial performance of the Group is properly measured and reported on. It will receive and review reports from the Group’s management and auditors relating to the interim and annual accounts and the accounting and internal control systems in use throughout the Group. The Audit Committee will meet at least twice a year and will have unrestricted access to the Group’s auditors. The chairman of the Audit Committee is Jeffrey Hume and its other members are Sir Miles Walker and Kevin Walsh.

The Remuneration Committee will review the performance of the Executive Directors and make recommendations to the Board on matters relating to their remuneration and terms of employment. The Remuneration Committee will also make recommendations to the Board on proposals for the granting of share options and other equity incentives pursuant to any share option scheme or equity incentive scheme in operation from time to time. The chairman of the Remuneration Committee is Kevin Walsh and its other members are Chris Hall and Jeffrey Hume.

Securities Information

The rights of shareholders may be different from the rights of shareholders in a UK incorporated company.

Shares are not traded or listed elsewhere.

There are no restrictions on the transfer of ordinary shares.

The Company is subject to the UK City Code on Takeovers and Mergers.

Number of securities in issue – 113,850,312

AIM securities not in public hands – 2.13%

Identity of significant shareholders (over 3%) as follows (as at 31.08.17)

  • Standard Life Aberdeen plc 17.09
  • AXA Investment Managers UK Limited 5.65
  • Unicorn Asset Management Limited 5.06
  • Hargreave Hale Limited 4.78
  • Premier Fund Managers Limited 4.71
  • Santander Asset Management UK 4.60
  • Oakley Capital Management Limited 3.43

Share price

Announcements

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Financial Calendar

Please find our financial calendar dates listed below. Approximate dates are indicated where the exact date is still to be confirmed.

  • 15th March 2018 – Preliminary announcement – Full year results for year ending 31December 2017
  • 11th May 2018 – Annual Report available
  • 13th June 2018 – AGM, Manx Telecom, Douglas, Isle of Man.
  • 12th September 2018 - Preliminary announcement - Half year results for period ending 30 June 2018

2017 Final Dividend

  • 15th March 2018 – announcement date
  • 24th May 2018 – ex-dividend date
  • 25th May 2018 – record date
  • 29th June 2018 – payment date

2018 Interim Dividend

  • 12th September 2018 - announcement date
  • 11th October 2018 - ex-dividend date
  • 12th October 2018 - record date
  • 5th November 2018 - payment date

Contacts and Advisors

Registered Agent

Registered office of the Company

Estera Trust (Isle of Man) Limited
33 – 37 Athol Street
Douglas
Isle of Man IM1 1LB  

33 – 37 Athol Street
Douglas
Isle of Man IM1 1LB

Head office of the Company

Nominated Advisor and Corporate Broker to the Company

Isle of Man Business Park
Cooil Road
Braddan
Isle of Man IM 99 1HX 

Liberum Capital Limited
Ropemaker Place, Level 12
25 Ropemaker Street
London EC2Y 9LY 

Financial Advisor to the Company

English legal advisors to the Company

Oakley Capital Limited
3 Cadogan Gate
London SW1X 0AS
Linklaters LLP
One Silk Street
London EC2Y 8HQ 

Isle of Man legal advisors to the Company

Reporting Accountants and Auditors

Estera Trust (Isle of Man) Limited
33 – 37 Athol Street
Douglas
Isle of Man IM1 1LB
KPMG Audit LLC
Heritage Court
41 Athol Street
Douglas
Isle of Man IM99 1HN

Registrars

Financial PR and Investor Relations

Computershare Investor Services (IOM) Limited
Millennium House
46 Athol Street
Douglas
Isle of Man IM1 1JE

Powerscourt
1 Tudor Street
London
EC4Y 0AH