Finsbury Food Group PLC EBT Share Purchase (0976E)
November 03 2020 - 5:56AM
UK Regulatory
TIDMFIF
RNS Number : 0976E
Finsbury Food Group PLC
03 November 2020
Date: 3 November 2020
On behalf Finsbury Food Group Plc ('Finsbury', 'the
of: Company' or 'the Group')
For immediate release
Finsbury Food Group Plc
EBT Share Purchase
Finsbury Food Group Plc (AIM: FIF), a leading UK speciality
bakery manufacturer of cake, bread and morning goods for both the
retail and foodservice channels, has been notified that, on 30
October and 2 November 2020, the Finsbury Food Group plc Employee
Benefit Trust (the "EBT") purchased 1,250,000 and 549,171 ordinary
shares of 1p each in the capital of the Company ("Ordinary Shares")
at a price of GBP0.54798 and GBP0.57000 per Ordinary Share
respectively.
The Ordinary Shares, which will be held in the EBT, are intended
to be used to satisfy awards made under the Finsbury Food Group Plc
Long Term Incentive Plan and to satisfy future annual bonus
payments. The EBT is a discretionary trust for the benefit of
employees of Finsbury and its subsidiaries, including the Executive
Directors of Finsbury.
Following the above purchases, the EBT holds a total of
5,046,554 Ordinary Shares, representing approximately 3.87% of the
Company's issued ordinary share capital.
For further information:
Finsbury Food Group
John Duffy (Chief
Executive)
Steve Boyd (Finance
Director) www.finsburyfoods.co.uk 029 20 357 500
Cenkos Securities
Max Hartley (Corporate
Finance) 0207 397 8900
Alma PR
Rebecca Sanders-Hewett
Sam Modlin finsbury@almapr.co.uk 020 3405 0205
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 27 June 2020 exceeding GBP306m.
-- The Company's bakery product range is comprehensive and includes:
o Large premium and celebration cakes.
o Small snacking cake formats such as cake slices and bites.
o 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.
o Gluten Free bread, morning goods and cake ranges.
-- The Company is one of the largest ambient cake manufacturers
in the UK, a market valued at over GBP969 million (source: IRI 52
w/e 12(th) September 2020). The retail bread and morning goods
market has a value of GBP4.9 billion (source: Kantar Worldpanel 52
w/e 6(th) September 2020). The retail Free From cake market is
valued at GBP52 million (source: Kantar Worldpanel 52 w/e 17th May
2020). The retail Free From bread & morning goods market is
valued at GBP143 million (source: Kantar Worldpanel 52 w/e 6(th)
September 2020). The UK Out of Home Foodservice Bakery sector is
worth approximately GBP740bn per annum (source: UK foodservice data
derived from MCA data for 52 weeks to 31st March 2020).
-- The Company comprises a core UK Bakery division and an Overseas division:
o The UK Bakery division has manufacturing sites in Cardiff,
East Kilbride, Hamilton, Salisbury, Sheffield, Manchester, and
Pontypool.
-- 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, and the Company's manufacturing facilities in
Rybarzowice and Zywiec in Poland.
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END
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