5 October 2017

Manx Telecom plc

Appointment of Interim CFO

Manx Telecom Plc (AIM: MANX), the leading communication solutions provider on the Isle of Man, is pleased to announce the appointment of Paul Tierney as Interim Group CFO with immediate effect. Paul was previously Interim CFO at Manx Telecom between June 2015 and February 2016.

Paul is a professional Interim CFO with 16 years' experience of senior interim finance positions. Most recently Paul has held senior interim positions at Swissport, the global airport and aviation service provider, Lantmannen Unibake UK, a privately-held bakery products manufacturer and One Fifty One Plc, a €300m energy and environment investment company.

During his time with Manx Telecom, Paul will not be a Director of the Company or a member of the Executive Board and will report to Gary Lamb.

By mutual agreement Danny Bakhshi's employment has terminated and he has stepped down from the Board with immediate effect. The Board thanks Danny for his contribution to Manx Telecom and wishes him well for the future.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/ 2014.

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About Manx Telecom

·      Manx Telecom is the leading communication solutions provider on the Isle of Man, offering a wide range of fixed line, broadband, mobile, and data centre services to businesses, consumers and the public sector on the Isle of Man as well as a growing portfolio of innovative hosting and "Smart SIM" solutions to off-Island customers.

·      Manx Telecom has a record of innovation, being the first European operator to launch a 3G mobile service and the first in the world to launch a 3.5G mobile service. 4G service launched in the summer of 2014, and it is now available to contract and pre-pay customers with 99% population coverage. The Company's high speed VDSL broadband service (Ultima) is available to 93 per cent of homes on the Island. A VDSL Plus service launched in February 2015.

·      The Company has three data centres (two of which are Tier 3 designed) plus international connectivity and its operations are business-critical to the economic strategy of the Isle of Man.

·      One of the largest employers on the Island, Manx Telecom employs approximately 300 people. The Company plays a major role in the wider community through a range of activities, including charitable donations, sponsorships, and corporate social responsibility initiatives.

·      The Company is proud to sponsor the Manx Telecom Parish Walk, Tough Mann Adventure Challenge, Manx Telecom End2End Mountain Bike Challenge, Team Manx Telecom (Manx Road Club), and Royal Manx Agricultural Show as well as other smaller events. Manx Telecom also donates annually to local causes through the company's "It's our Community" programme.

·      The Isle of Man has a resilient and growing economy which has experienced 34 years of unbroken GDP growth. Unemployment is low at 0.9 per cent, and there is a zero per cent corporate tax rate which applies to the vast majority of Manx Telecom's business and means that the Group currently pays no corporation tax on its annual profits.

·      Manx Telecom is listed on the Alternative Investment Market of the London Stock Exchange with the ticker MANX.