REG - Finsbury Food Group - Annual Bonus Scheme - PDMR Dealings

Finsbury FoodAnnouncement

30/11/2022 07:00

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RNS Number : 9967H  Finsbury Food Group PLC  30 November 2022

 Date:             30 November 2022
 On behalf of:     Finsbury Food Group Plc ('Finsbury', 'the Company' or 'the Group')
 Embargoed until:  0700hrs

 

Finsbury Food Group plc

Annual Bonus Scheme - 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 29 November 2022, 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 2 July 2022.
On a net settled basis, Mr Duffy received 131,952 Ordinary Shares and Mr Boyd
received 92,430 Ordinary Shares.

Following receipt of the shares, Mr Duffy and his immediate family, have an
interest in 2,870,198 Ordinary Shares representing approximately 2.20 per
cent. of the Company's total issued share capital and Mr Boyd and his
immediate family, have an interest in 1,372,487 Ordinary Shares representing
approximately 1.05 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 6,319,299 Ordinary Shares, representing
4.85 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 instrument:  Ordinary Shares of 1 pence each

     Identification code:                      ISIN: GB0009186429
 b)  Nature of the transaction:                Issue of Ordinary Shares pursuant to the Company's annual bonus scheme.

 c)  Price(s) and volume(s):

Price                       Volume
                                               Nil cost                    131,952

                                               (Reference price: 87.67p)
 d)  Aggregated volume:                        N/A

     Price:
 e)  Date of the Transaction:                  29 November 2022
 f)  Place of the Transaction:                 Outside a trading venue

d)

Aggregated volume:

Price:

N/A

e)

Date of the Transaction:

29 November 2022

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 instrument:  Ordinary Shares of 1 pence each

     Identification code:                      ISIN: GB0009186429
 b)  Nature of the transaction:                Grant of awards over Ordinary Shares under the Company's long term incentive

                                         plan

 c)  Price(s) and volume(s):

Price                               Volume
                                               Nil cost (Reference price: 87.67p)  92,430
 d)  Aggregated volume:                        N/A

     Price:
 e)  Date of the Transaction:                  29 November 2022
 f)  Place of the Transaction:                 Outside a trading venue

d)

Aggregated volume:

Price:

N/A

e)

Date of the Transaction:

29 November 2022

f)

Place of the Transaction:

Outside a trading venue

 

 

 

For further information:

 Finsbury Food Group                                                                    www.finsburyfoods.co.uk (http://www.finsburyfoods.co.uk)  029 20 357 500

 John Duffy (Chief Executive)

 Steve Boyd (Finance Director)

 Panmure Gordon (UK) Limited                                                                                                                      020 7886 2500

 Oliver Cardigan (Corporate Finance)

 Atholl Tweedie

 Erik Anderson (Corporate Broking)

 Alma                                                                                   finsbury@almapr.co.uk (mailto:finsbury@almapr.co.uk)      020 3405 0205
 PR

 Sam Modlin

 David Ison

 Matthew Young

 

Notes to Editors:

·      Finsbury Food Group Plc (AIM: FIF) is a leading UK and European
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, together with its overseas division, has sales in the financial year
ending 2 July 2022 of £357 million.

·      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; and

·      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 £1.04 billion (source: IRI 52 w/e 8th October
2022). The retail bread and morning goods market has a value of £5.3 billion
(source: Kantar Worldpanel 52 w/e 4th September 2022). The retail Free From
cake market is valued at £58 million (source: Kantar Worldpanel 52 w/e 4th
September 2022). The retail Free From bread and morning goods market is valued
at £166 million (source: Kantar Worldpanel 52 w/e 4th September 2022).

 

·      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 85% owned company,
Lightbody-Stretz Limited, 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 Żywiec in Poland.

 

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