Manx Financial Group PLC - Isle of Man-based financial services firm - Acquires 10% stake in Rivers Finance Group PLC, holding company of Rivers Leasing PLC. Rivers offers leasing services, hire purchase and business loans and is based in Harrow, London. Deal struck through Manx unit Bradburn Ltd. As part of deal, Bradburn has been offered two warrants to acquire further shares. Each warrant is for a further 5% of Rivers shares. Manx adds: "This increase in shareholding continues the group's strategy of developing the Bank's own network of specialist lenders to resilient market sectors in the UK."
Current stock price: 8.10 pence
Year-to-date change: down 2.4%
By Eric Cunha; ericcunha@alliancenews.com
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Manx Financial (MFX)