FELTHAM, England, June 12, 2017 /PRNewswire/ -- Nomad Foods
Limited (NYSE: NOMD) today announced that it has entered into an
agreement to repurchase 9,779,729 of its shares beneficially owned
by funds advised by Permira Advisers LLP ("Permira") at a purchase
price of $10.75 per share, which
represents a 25% discount to the closing price of Nomad Foods
ordinary shares on June 9, 2017. The
transaction, which is 6% accretive to EPS, relates to a final
settlement of indemnity claims against an affiliate of Permira, of
legacy tax matters that predate its acquisition of Iglo Group in
2015. The aggregate purchase price of approximately $105.1 million will be funded from the Company's
cash on hand and the shares will be retired.
Stefan Descheemaeker, CEO of
Nomad Foods, said, "Today's announcement represents a unique
opportunity for Nomad Foods to create value for its shareholders.
We continue to have significant cash on hand and financial capacity
to execute acquisitions, a strategic priority, and remain
encouraged by the positive momentum in our business."
Forward Looking Statements
Certain statements in this release are forward-looking
statements which are based on the Company's expectations,
intentions and projections regarding its future performance,
anticipated events and other matters that are not historical facts,
including expectations regarding the repurchase of ordinary
shares. Given these risks and uncertainties, prospective
investors are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements speak only
as of the date of such statements and, except as required by
applicable law, the Company does not undertake any obligation to
update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise.
About Nomad Foods Limited
Nomad Foods (NYSE: NOMD) is a leading frozen foods company
building a global portfolio of best-in-class food companies and
brands within the frozen category and across the broader food
sector. Nomad Foods produces, markets and distributes brands in 17
countries and has the leading market share in Western Europe. The Company's portfolio of
leading frozen food brands includes Birds Eye, Iglo, and Findus.
More information on Nomad Foods Limited is available at
http://www.nomadfoods.com.
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SOURCE Nomad Foods Limited