Finsbury Food Group PLC Result of AGM (0769U)
20 Novembre 2019 - 12:17PM
UK Regulatory
TIDMFIF
RNS Number : 0769U
Finsbury Food Group PLC
20 November 2019
Date: 20 November 2019
On behalf Finsbury Food Group Plc ('Finsbury', 'the
of: Company' or 'the Group')
For immediate release
Finsbury Food Group Plc
Result of AGM
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 confirm that all
resolutions put to shareholders were duly passed at its Annual
General Meeting held today, Wednesday 20 November 2019.
Details of the proxy voting results, which should be read
alongside the Notice of AGM, are below:
Resolution (see the Notice of AGM In favour In favour Against Against Withheld*
for the full text of the resolutions) (votes) (%) (votes) (%) (votes)
1. To receive the reports of the Directors and the Financial Statements for the 52
weeks ended
29 June 2019 74,638,537 99.32 500,000 0.67 0
2. To declare a final dividend for
the year ended 29 June 2019 of 2.34
pence per share 75,138,021 99.98 516 0.01 0
3. To reelect Marnie Millard as a
director 75,012,100 99.83 123,592 0.16 2,845
----------- ------ -------- ----- ----------
4. To reelect Bob Beveridge as a
director 75,032,011 99.85 103,681 0.14 2,845
----------- ------ -------- ----- ----------
5. To appoint PricewaterhouseCoopers
LLP as auditor of the Company until
the conclusion of the next AGM 75,127,764 99.98 7,999 0.01 2,774
----------- ------ -------- ----- ----------
6. To authorise the directors to
determine the fees payable to the
auditor 75,138,021 99.98 516 0.01 0
----------- ------ -------- ----- ----------
7. To authorise the Directors to
allot shares in the Company up to
the limits specified in the resolution 70,451,348 99.36 447,556 0.63 4,239,633
----------- ------ -------- ----- ----------
8. To authorise the Directors to
disapply pre-emption rights up to
the limits specified in the resolution** 70,447,536 99.36 450,108 0.63 4,240,893
----------- ------ -------- ----- ----------
9. To authorise the Company to make
market purchases of its own shares
within the limits specified in the
resolution** 69,955,111 98.66 946,274 1.33 4,237,152
----------- ------ -------- ----- ----------
* A vote withheld is not a vote in law and is not counted in the
votes for or against the resolution
** Passed as a special resolution
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/Harry
Hargreaves
(Corporate Finance)
Alma PR
Rebecca Sanders-Hewett
Sam Modlin
Hilary Buchanan 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 29 June 2019 exceeding GBP315m.
-- 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 20(th) July 2019). The retail bread and morning goods market
has a value of GBP4.5 billion (source: Kantar Worldpanel 52 w/e
14(th) July 2019). The retail Free From Cake market is valued at
GBP49.5 million (source: Kantar Worldpanel 52 w/e 24(th) March
2019). The retail Free From bread & morning goods market is
valued at GBP125.3 million (source: Kantar Worldpanel 52 w/e 21(st)
April 2019). The UK Out of Home sector Foodservice Bakery sector is
worth approximately GBP747 million per annum (source: derived from
MCA data for 52 weeks to 31(st) March 2019). The UK foodservice
cake and sweet morning goods bakery sector is worth approximately
GBP918 million per annum (UK foodservice data derived from MCA data
for 52 weeks to 31(st) March 2019).
-- 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.
o 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 facility in
ywiec in Poland.
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END
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