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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AGM
13 June 2018

Financial Calendar

latest documents

Notice of 2017 Annual General Meeting

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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 appointed Chairman on the Company’s admission to AIM in February 2014. He is also Chairman of the Nomination Committee. Kevin was an Executive Director of KCOM Group plc between May 2004 and August 2014. In addition, he was the Chief Executive for the KC brand, which is the market-leading internet and telecoms provider for Hull and East Yorkshire. Prior to joining KCOM in 2000, Kevin was Managing Director of a listed internet business startup and held a number of Divisional Managing Director roles within the Electrolux group.

Gary Lamb
Chief Executive Officer

Gary Lamb joined the business in October 2011 as Chief Financial Officer, and on 1 July 2015 became Chief Executive Officer for the Manx Telecom group. Gary is a qualified accountant (ACMA, CGMA) who has gained extensive business experience over the past 25 years in numerous senior roles. Prior to joining Manx Telecom, Gary was a Founding Director of Bladon Jets Limited Prior to this, Gary was the Finance & IT Director of Strix Limited, a world-leading innovator and manufacturer of thermostatic controls for water boiling appliances. Strix became an AIM listed company in August 2017, and Gary was appointed Non-Executive Chairman.

Jeffrey Hume
Senior Independent Non-Executive Director

Jeffrey Hume joined the business in 2013 as an Independent Non-Executive Director and Chairman of its Audit Committee. He became the Senior Independent Director of Manx Telecom plc on its IPO. He is also an Independent Non-Executive Director at Ports of Jersey Ltd and a member of the London Stock Exchange’s Primary Markets Group. He is a Fellow of the Institute of Chartered Accountants and the Association of Corporate Treasurers. 

Chris Hall, Independent Non-Executive Director

Chris Hall
Independent Non-Executive Director

Chris Hall rejoined the business in 2016 as an independent Non- Executive Director. He has been Chairman of the Remuneration Committee since June 2017. He previously held the position of Managing Director at Manx Telecom Ltd from 1999 until 2011. He is currently a Non-Executive Director of several companies, including Utmost Ltd, SiRRAN Communications Ltd, Isansys Lifecare Ltd, ManSat Ltd, Cherry Godfrey Finance (IOM) Ltd and Scout4 Ltd. Active in the local community, Chris is also a Director of the Manx ICT Association, a Member of the Board of Governors of Hospice Isle of Man, and Chairman of the Isle of Man e-Gaming Strategic Advisory Board. He is a Fellow of the Institute 

 

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 – 114,847,637 (as at 25.04.18)

AIM securities not in public hands – 17.55% (as at 25.04.18)

Identity of significant shareholders (over 3%) as follows (as at 25.04.18)

  • Standard Life Aberdeen plc 16.92%
  • AXA Investment Managers UK Limited 6.46%
  • Unicorn Asset Management Limited 5.54%
  • Hargreave Hale Limited 3.56%

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

Cains
Fort Anne
Douglas
Isle of Man
IM1 5PD

KPMG Audit LLC
Heritage Court
41 Athol Street
Douglas
Isle of Man IM99 1HN

Registrars

Financial PR and Investor Relations

Computershare Investor Services (Jersey) Limited 
Queensway House, 
Hilgrove Street, 
St Helier, 
Jersey 
JE1 1ES

Powerscourt
1 Tudor Street
London
EC4Y 0AH