REG - Finsbury Food Group - EBT Share Purchase

Finsbury FoodAnnouncement

01/06/2022 17:30

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RNS Number : 6445N  Finsbury Food Group PLC  01 June 2022

 Date:          01 June 2022
 On behalf of:  Finsbury Food Group Plc ('Finsbury', 'the 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 27(th) and 30(th) May 2022,
the Finsbury Food Group plc Employee Benefit Trust (the "EBT") purchased
100,000 and 579,731 ordinary shares of 1p each in the capital of the Company
("Ordinary Shares") at a price of £0.730000 and £0.734825 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 6,668,718 Ordinary
Shares, representing approximately 5.11% of the Company's issued ordinary
share capital.

 

 

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)

 Edward Walsh

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

 Rebecca Sanders-Hewett

 Sam Modlin

 David Ison

 

 

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 26
June 2021 exceeding £313m.

·      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 £1bn (source: IRI 52 w/e 1(st)  January 2022).
The retail bread and morning goods market has a value of £5.2 billion
(source: Kantar Worldpanel 52 w/e 26th December 2021). The retail Free From
cake market is valued at £54 million (source: Kantar Worldpanel 52 w/e 26th
December 2021). The retail Free From bread & morning goods market is
valued at £153 million (source: Kantar Worldpanel 52 w/e 26th December 2021).

·      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 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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