TIDMFIF
RNS Number : 6785T
Finsbury Food Group PLC
16 November 2023
Date: 16 November 2023
On behalf of: Finsbury Food Group Plc ('Finsbury', 'the
Company' or 'the Group')
Embargoed until: 0700hrs
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 15 November
2023, 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 years ended 27 June 2015,
29 June 2019 and 27 June 2020. On a gross settled basis, Mr Duffy
received 2,040,377 Ordinary Shares and Mr Boyd received 1,437,101
Ordinary Shares.
Following receipt of the shares, Mr Duffy and his immediate
family, have an interest in 4,910,575 Ordinary Shares representing
approximately 3.77 per cent. of the Company's total issued share
capital and Mr Boyd and his immediate family, have an interest in
2,809,588 Ordinary Shares representing approximately 2.15 per cent.
of the Company's total issued share capital.
In parallel, in connection with the Acquisition of Finsbury by
Frisbee Bidco Limited ("Bidco"), all other participants in the
Finsbury Share Plans either exercised some or all of their options
and received Ordinary Shares or elected to surrender some or all of
their options in favour of the grant of a new award over shares in
Bidco (or a combination of both) in accordance with the proposals
made by Finsbury and Bidco to them in letters dated 2 October 2023
in accordance with the Rule 15 Proposals.
The Ordinary Shares were transferred from the trustee of the
Finsbury Food Group Plc Employee Benefit Trust ("EBT"). Following
such transfers, the trustee of the EBT is interested in 1,085,693
Ordinary Shares, representing 0.83 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.
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 the financial Ordinary Shares of 1 pence
instrument: each
Identification code: ISIN: GB0009186429
--------------------------------- ------------------------------------
b) Nature of the transaction: Transfer of Ordinary Shares
from the Finsbury Food Group
Employee Benefit Trust pursuant
to the Finsbury Share Plans,
in accordance with the Acquisition
by Frisbee Bidco Limited
--------------------------------- ------------------------------------
c) Price(s) and volume(s): Price Volume
Nil cost 2,040,377
----------
--------------------------------- ------------------------------------
d) Aggregated volume: N/A
Price:
--------------------------------- ------------------------------------
e) Date of the Transaction: 15 November 2023
--------------------------------- ------------------------------------
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 the financial Ordinary Shares of 1 pence each
instrument: ISIN: GB0009186429
Identification code:
--------------------------------- ------------------------------------
b) Nature of the transaction: Transfer of Ordinary Shares
from the Finsbury Food Group
Employee Benefit Trust pursuant
to the Finsbury Share Plans,
in accordance with the Acquisition
by Frisbee Bidco Limited
--------------------------------- ------------------------------------
c) Price(s) and volume(s): Price Volume
Nil cost 1,437,101
----------
--------------------------------- ------------------------------------
d) Aggregated volume: N/A
Price:
--------------------------------- ------------------------------------
e) Date of the Transaction: 15 November 2023
--------------------------------- ------------------------------------
f) Place of the Transaction: Outside a trading venue
--------------------------------- ------------------------------------
For further information:
Finsbury Food Group
John Duffy (Chief Executive)
Steve Boyd (Finance
Director) www.finsburyfoods.co.uk 029 20 357 500
Panmure Gordon (UK)
Limited
Dominic Morley
Atholl Tweedie
R upert Dearden 020 7886 2500
Alma PR
Sam Modlin
Rebecca Sanders-Hewett
Matthew Young 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, had sales in the financial
year ended 1 July 2023 exceeding GBP413 million.
-- 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 GBP1.4 billion (source: Kantar
Worldpanel 52 w/e 06 August 2023). The retail bread and morning
goods market has a value of GBP6.3 billion (source: Kantar
Worldpanel 52 w/e 03 September 2023). The retail Free From cake
market is valued at GBP69.6 million (source: Kantar Worldpanel 52
w/e 06 August 2023). The retail Free From bread and morning goods
market is valued at GBP186.4 million (source: Kantar Worldpanel 52
w/e 03 September 2023).
-- 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,
Pontypool and now Coatbridge.
o The Overseas division comprises the Company's 85% owned
company, Lightbody-Stretz Limited, which supplies and distributes
the Group's UK-manufactured products and third-party products, in
Europe, and the Company's manufacturing facilities in Rybarzowice
and ywiec in Poland.
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END
DSHNKABNABDKODD
(END) Dow Jones Newswires
November 16, 2023 02:00 ET (07:00 GMT)
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