REG - Logistics Dev Grp - Finsbury Food Group – Further Investment

Logistics DevelopmentAnnouncement

12/10/2023 10:30

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RNS Number : 9375P  Logistics Development Group PLC  12 October 2023

12 October 2023

 

Logistics Development Group plc

 

("LDG" or the "Company")

 

Finsbury Food Group - Further Investment

 

 

LDG announces that, on 11 October 2023, it purchased an additional 4,376,386
ordinary shares in Finsbury Food Group PLC ("Finsbury") (AIM:FIF), at a price
of £1.098 per ordinary share, for a total cash consideration of £4,805,272
(excluding costs).

 

Following this purchase, LDG is interested in 16,140,365 Finsbury ordinary
shares, representing approximately 12.4% of Finsbury's issued share capital.

 

Finsbury operates a specialty foods business which supplies boxed cakes to
supermarkets located throughout the United Kingdom. Finsbury's products
include novelty and celebration cakes, chocolate cakes, and muffins.

 

For the year ended 1 July 2023, Finsbury reported a pre-tax profit of £16.2
million and net assets of £126.6 million.

 

LDG is deemed to be acting in concert with DBAY Advisors Limited ("DBAY") for
the purposes of the recommended cash offer by Frisbee Bidco Limited for
Finsbury, announced on 20 September 2023.

 

 

For enquiries:

 

 Logistics Development Group plc     Via FTI Consulting

 FTI Consulting                      +44 (0) 20 3727 1340

 Nick Hasell

 Alex Le May

 Strand Hanson Limited               +44 (0) 20 7409 3494

 (Financial and Nominated Adviser)

 Richard Johnson

 James Dance

 Abigail Wennington

 Investec Bank plc                   +44 (0) 20 7597 5970

 (Broker)

 Gary Clarence

 Harry Hargreaves

 

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