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Manx Financial ( (GB:MFX) ) just unveiled an update.
Manx Financial Group has secured two new three-year unsecured loans totalling £2 million from director Jim Mellon and his company Burnbrae Limited to bolster the regulatory capital of its subsidiary Conister Bank under Isle of Man banking rules. Structured on arm’s-length, standard commercial terms with an 8% annual interest rate and repayable at any time, the related-party transactions were approved by the group’s independent directors, who, after consultation with the company’s nominated adviser, deemed the financing fair and reasonable for shareholders compared with alternative third-party funding or a rights issue, underscoring the group’s strategy to support the continued expansion of Conister Bank while maintaining regulatory capital strength.
The most recent analyst rating on (GB:MFX) stock is a Buy with a £34.00 price target. To see the full list of analyst forecasts on Manx Financial stock, see the GB:MFX Stock Forecast page.
Spark’s Take on GB:MFX Stock
According to Spark, TipRanks’ AI Analyst, GB:MFX is a Outperform.
Manx Financial’s strong financial performance and attractive valuation are the primary drivers of its stock score. The bullish technical indicators further support a positive outlook, although overbought signals warrant caution. The absence of earnings call data and corporate events does not impact the score.
To see Spark’s full report on GB:MFX stock, click here.
More about Manx Financial
Manx Financial Group (AIM: MFX) is a diversified UK banking and financial services group with a strong Isle of Man heritage. Holding both Isle of Man and UK banking licences, it focuses on providing flexible funding solutions to small and medium-sized enterprises (SMEs) across both markets, operating through a portfolio of entrepreneurial subsidiaries under Manx Ventures Limited built via start-ups and selective, accretive acquisitions.
Average Trading Volume: 76,528
Technical Sentiment Signal: Buy
Current Market Cap: £34.43M
For a thorough assessment of MFX stock, go to TipRanks’ Stock Analysis page.