REG - Logistics Dev Grp - Finsbury Food Group Investment

Logistics DevelopmentAnnouncement

18/10/2022 07:00

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RNS Number : 1745D  Logistics Development Group PLC  18 October 2022

18 October 2022

 

Logistics Development Group plc

 

("LDG") or the "Company")

 

Finsbury Food Group Investment

 

 

LDG is pleased to announce that, further to its announcement on 26 August
2022, it has acquired a further 5,132,000 ordinary shares in Finsbury Food
Group plc ("Finsbury") (LON:FIF) at an average price of £0.81 per ordinary
share, for a total cash consideration of £4,165,820.

 

Following these purchases, LDG is interested in 8,832,000 ordinary shares in
Finsbury, representing approximately 6.77% 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 53 weeks period ending 2 July 2022 Finsbury reported a pre-tax profit
of £17.0 million. As at, 31 December 2021, Finsbury reported net assets of
£113.9 million.

 

 

For enquiries:

 

 Logistics Development Group plc     Via FTI Consulting
 FTI Consulting                      +44 (0) 20 3727 1340

 Nick Hasell

 Alex Le May

 Cally Billimore

 Strand Hanson Limited               +44 (0) 20 7409 3494

 (Financial and Nominated Adviser)

 James Spinney

 James Dance

 Abigail Wennington

 Investec Bank plc                   +44 (0) 20 7597 5970

 (Broker)

 Gary Clarence

 Harry Hargreaves

 

 

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