TIDMFIF
RNS Number : 7542U
Finsbury Food Group PLC
27 October 2017
Date: 27 October 2017
On behalf of: Finsbury Food Group Plc ('Finsbury', 'the Company'
or 'the Group')
For immediate release
Finsbury Food Group Plc
PDMR Dealings
Finsbury Food Group Plc (AIM: FIF), a leading UK specialty
bakery and manufacturer of cake, bread and morning goods for both
the retail and foodservice channels, announces that, on 25 October
2017, John Duffy, Chief Executive Officer, and Stephen Boyd, Group
Finance Director, received ordinary shares of 1p each in the
Company ("Ordinary Shares") pursuant to the Company's annual bonus
arrangements in relation to the financial year ended 1 July 2017.
Mr. Duffy received 74,441 Ordinary Shares and Mr. Boyd received
54,088 Ordinary Shares. Each of Mr. Duffy and Mr. Boyd has
requested that the Ordinary Shares be transferred to his wife at
nil cost.
As a result, the interests of Mr. Duffy and Mr. Boyd in the
Ordinary Shares of the Company remain unchanged. Following receipt
of the shares, Dr. Alice Duffy, the wife of Mr Duffy, has an
interest in 2,332,898 Ordinary Shares representing approximately
1.79 per cent. of the Company's total issued share capital and Mrs
Nicola Boyd, the wife of Mr. Boyd, has an interest in 1,065,543
Ordinary Shares representing approximately 0.82 per cent. of the
Company's total issued share capital.
The Ordinary Shares were transferred from the trustee of the
Finsbury Food Group Plc Employee Benefit Trust ("EBT"). Following
the transaction, the trustee of the EBT is interested in 2,704,030
Ordinary Shares, representing2.07 per cent. of the Company's total
issued share capital.
The EBT is a discretionary trust for the benefit of employees of
the Company and its subsidiaries. The Executive Directors of the
Company are included in the class of potential beneficiaries of the
EBT and are deemed to be interested in those shares and the
dealings thereof.
-S -
For further information:
Finsbury Food Group Plc www.finsburyfoods.co.uk
John Duffy (Chief Executive Officer) 029 20 357 500
Stephen Boyd (Group Finance Director)
Cenkos Securities plc
Bobbie Hilliam (Corporate Finance)
Redleaf Communications finsbury@redleafpr.com
Elisabeth Cowell 020 7382 4730
Ian Silvera
Fiona Norman
Notes to editors:
-- Finsbury Food Group Plc (AIM: FIF) is a leading UK
manufacturer of cake and bread bakery goods, supplying a broad
range of blue chip customers within both the grocery retail and
'out of home eating' foodservice sectors including major multiples
and leading foodservice providers.
-- The Company is one of the largest speciality bakery groups in
the UK and, with its Overseas division, has sales in the financial
year ending 1 July 2017 exceeding GBP300m.
-- The Company's bakery product range is comprehensive and includes:
- Large premium and celebration cakes.
- Small snacking cake formats such as cake slices and bites.
- Artisan, healthy lifestyle and organic breads through to
rolls, muffins (sweet and savoury) and morning pastries, all of
which are available both fresh and frozen dependent on customer
channel requirements.
-- The Company is one of the largest ambient cake manufacturers
in the UK, a market valued at over GBP938 million (source: Symphony
IRI, 52 w/e 19(th) August 2017). The annual retail bread and
morning goods market has a value of GBP4.0 billion (source: Kantar
Worldpanel 52 weeks to 16(th) July 2017). The UK foodservice bread
and morning goods bakery sector is worth approximately GBP836
million per annum. The UK foodservice cake and sweet treat bakery
sector is worth approximately GBP494 million per annum (UK
foodservice data derived from NPD Crest 52 w/e 30(th) June
2017).
-- The Company comprises a UK Bakery division and an Overseas division:
- The UK Bakery division has manufacturing sites in Cardiff,
East Kilbride, Hamilton, Salisbury, Sheffield and Manchester.
- The Overseas division comprises the Company's 50% owned
company, Lightbody Stretz Ltd, which supplies and distributes the
Group's UK-manufactured products and third party products,
primarily to Europe.
1. Details of the person discharging managerial
responsibilities/person closely associated
---- ----------------------------------------------------------------------
a) Name: John Duffy
---- ------------------------------------- -------------------------------
2. Reason for the notification
---- ----------------------------------------------------------------------
a) Position/Status: Chief Executive Officer
---- ------------------------------------- -------------------------------
b) Initial Notification/Amendment: Initial Notification
---- ------------------------------------- -------------------------------
3. Details of the issuer, emission allowance
market participation, auction platform,
auctioneer or auction monitor
---- ----------------------------------------------------------------------
a) Name: Finsbury Food Group Plc
---- ------------------------------------- -------------------------------
b) LEI: 213800NP5Y3DYJM1MF44
---- ------------------------------------- -------------------------------
4. Details of transaction(s); section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii)
each date; and (iv) each place where
transactions have been conducted.
---- ----------------------------------------------------------------------
a) Description of Ordinary Shares of 1
the financial instrument: pence each
Identification ISIN: GB0009186429
code:
---- ------------------------------------- -------------------------------
b) Nature of the transaction: The shares were awarded
to John Duffy in partial
settlement of his 2017
bonus and transferred
direct from the Finsbury
Food Group Plc Employee
Benefit Trust to his
wife and PCA, Alice Duffy,
at John Duffy's request
and with the consent
of Alice Duffy.
---- ------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---- ------------------------------------- --------------- --------------
Nil-cost 74,441
---------------------------------------------------------- --------------
d) Aggregated volume: N/A
Price:
---- ------------------------------------- -------------------------------
e) Date of the Transaction: 25 October 2017
---- ------------------------------------- -------------------------------
f) Place of the Transaction: Outside a trading venue
---- ------------------------------------- -------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ------------------------------------------------------------------
a) Name: Stephen Boyd
--- ---------------------------------- ------------------------------
2. Reason for the notification
--- ------------------------------------------------------------------
a) Position/Status: Group Finance Director
--- ---------------------------------- ------------------------------
b) Initial Notification/Amendment: Initial Notification
--- ---------------------------------- ------------------------------
3. Details of the issuer, emission allowance
market participation, auction platform,
auctioneer or auction monitor
--- ------------------------------------------------------------------
a) Name: Finsbury Food Group Plc
--- ---------------------------------- ------------------------------
b) LEI: 213800NP5Y3DYJM1MF44
--- ---------------------------------- ------------------------------
4. Details of transaction(s); section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii)
each date; and (iv) each place where
transactions have been conducted.
--- ------------------------------------------------------------------
a) Description of Ordinary Shares of 1
the financial instrument: pence each
Identification ISIN: GB0009186429
code:
--- ---------------------------------- ------------------------------
b) Nature of the transaction: The shares were awarded
to Stephen Boyd in partial
settlement of his 2017
bonus and transferred
direct from the Finsbury
Food Group Plc Employee
Benefit Trust to his
wife and PCA, Nicola
Boyd, at Stephen Boyd's
request and with the
consent of Nicola Boyd.
--- ---------------------------------- ------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
--- ---------------------------------- ---------------- ------------
NilSHYcost 54,088
------------------------------------------------------- ------------
d) Aggregated volume: N/A
Price:
--- ---------------------------------- ------------------------------
e) Date of the Transaction: 25 October 2017
--- ---------------------------------- ------------------------------
f) Place of the Transaction: Outside a trading venue
--- ---------------------------------- ------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ------------------------------------------------------------
a) Name: Alice Duffy
--- -------------------------------- --------------------------
2. Reason for the notification
--- ------------------------------------------------------------
a) Position/Status: Person Closely Associated
to John Duffy, Chief
Executive Officer and
PDMR
--- -------------------------------- --------------------------
b) Initial Notification/Amendment: Initial Notification
--- -------------------------------- --------------------------
3. Details of the issuer, emission allowance
market participation, auction platform,
auctioneer or auction monitor
--- ------------------------------------------------------------
a) Name: Finsbury Food Group
Plc
--- -------------------------------- --------------------------
b) LEI: 213800NP5Y3DYJM1MF44
--- -------------------------------- --------------------------
4. Details of transaction(s); section
to be repeated for (i) each type of
instrument; (ii) each type of
transaction; (iii) each date;
and (iv) each place where transactions
have been conducted.
--- ------------------------------------------------------------
a) Description of Ordinary Shares of 1
the financial instrument: pence each
Identification ISIN: GB0009186429
code:
--- -------------------------------- --------------------------
b) Nature of the transaction: The shares were awarded
to John Duffy in partial
settlement of his 2017
bonus and transferred
direct from the Finsbury
Food Group Plc Employee
Benefit Trust to his
wife and PCA, Alice
Duffy, at John Duffy's
request and with the
consent of Alice Duffy.
--- -------------------------------- --------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
--------- ---------
Nil-cost 74,441
--------- ---------
--- -------------------------------- --------------------------
d) Aggregated volume: N/A
Price:
--- -------------------------------- --------------------------
e) Date of the Transaction: 25 October 2017
--- -------------------------------- --------------------------
f) Place of the Transaction: Outside a trading venue
--- -------------------------------- --------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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