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RNS Number : 3090L
Finsbury Food Group PLC
12 January 2021
Date: 12 January 2021
On behalf of: Finsbury Food Group Plc ("Finsbury", "the Company"
or "the Group")
Finsbury Food Group Plc
Appointment of NOMAD and sole broker
and
AIM Rule 17 Schedule 2(g) update
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, is pleased to announce the
appointment of Panmure Gordon (UK) Limited as NOMAD and sole broker
with immediate effect.
The Company also announces the information in Appendix I below
relating to director disclosure under Schedule Two, Paragraph (g)
of the AIM Rules for Companies.
Contact:
Finsbury Food Group
John Duffy (Chief Executive)
Steve Boyd (Finance
Director) www.finsburyfoods.co.uk 029 20 357 500
Panmure Gordon
Oliver Cardigan (Corporate
Finance)
Atholl Tweedie
Joanna Langley
Erik Anderson (Corporate
Broking) 020 7886 2500
Alma PR
Rebecca Sanders-Hewett
Sam Modlin
David Ison 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:
-- 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.
-- 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:
-- 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.
Appendix I
On 30 September 2009, in relation to the appointment of John
Duffy as CEO, the Company disclosed certain directorships under
Schedule Two, Paragraph (g) of the AIM Rules for Companies. In
addition to those previously disclosed, John was also a director of
Noon Group Limited within the five years prior to his
appointment.
On 20 January 2010, in relation to the appointment of Stephen
Boyd as Group Finance Director, the Company disclosed certain
directorships under Schedule Two, Paragraph (g) of the AIM Rules
for Companies. As disclosed, Steve was a director of Pentagon Foods
Limited; this company went into administration in November 2008,
owing 4 creditors with estimated claims of GBP4.2m. The company was
subsequently dissolved in September 2009.
On 1 February 2016, in relation to the appointment of Marnie
Millard as Non-Executive Director, the Company disclosed certain
directorships under Schedule Two, Paragraph (g) of the AIM Rules
for Companies. In addition to those previously disclosed, Marnie
was also a director of Connect Wetherby Limited within the five
years prior to her appointment. Marnie had also been a director of
Luscious Food & Drink Company Limited, a company which, within
twelve months of her resignation in July 2007, went into
administration in December 2007 and subsequently a creditors'
voluntary liquidation in June 2009. There were 18 unsecured
creditors with total estimated claims of GBP0.5m. The company was
dissolved in February 2011.
On 3 July 2017, in relation to the appointment of Robert
Beveridge FCA as Non-Executive Director, the Company disclosed
certain directorships under Schedule Two, Paragraph (g) of the AIM
Rules for Companies. In addition to those previously disclosed, Bob
was also a director of Minimob Limited within the five years prior
to his appointment.
There is no further information required to be disclosed
pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for
Companies.
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