REG - Logistics Dev Grp - Portfolio Update - Related Party Transaction

Logistics DevelopmentAnnouncement

Thu 07:00

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RNS Number : 8519P  Logistics Development Group PLC  22 January 2026

22 January 2026

 

Logistics Development Group plc

 

("LDG", the "Company" or, together with its subsidiaries, the "Group")

 

Portfolio Update

 

Related Party Transaction

 

Finsbury Foods - return of capital invested

LDG announces that Finsbury Food Group Ltd ("Finsbury"), in which LDG holds an
economic 25.3% interest through the Company's wholly-owned subsidiary Fixtaia
Limited ("Fixtaia"), has completed a refinancing and subsequent return of
capital. This has resulted in £11.4m being received by Fixtaia, de-risking
the Company's original capital investment to £2.8m of exposure (original
investment: £14.2m). LDG's equity stake in Finsbury remains unchanged.

Finsbury is one of the leading specialty bakeries in the UK and is trading
well. Lola's Cupcakes, acquired in Q3 2025, is performing ahead of plan.

WS Holdco - investment

The Board of LDG has agreed the reallocation of £10m (the "Investment") from
the Finsbury return of capital to increase its investment in WS Holdco Limited
(previously named Framtid TopCo Limited), a private holding company of a group
of companies ("WS Group") established by DBAY Advisors Limited ("DBAY").

Under the leadership of William Stobart, WS Group is pursuing a buy-and-build
strategy aimed at creating a UK-focused national logistics platform. To date,
WS Group has acquired a 78.3% interest in The Alternative Parcels Company Ltd,
the UK's largest independent parcel delivery network; parcel volumes are
currently well above expectations and management intends to invest in
additional capacity, to support further growth. WS Group has also acquired
100% of William Stobart & Son, which provides general transport and
warehousing services; a 70% interest in WS Digital Freight, an asset-light
road forwarding business; and a 60% interest in Bis Henderson, which
specialises in white-collar recruitment for the logistics industry.

The Investment is on the same terms as LDG's original investment of £15m in
WS Holdco as detailed in the Company's announcement on 18 July 2025. As at 30
September 2025, LDG's interest in WS Holdco was 42.6% and will increase to
51.3% after the Investment. LDG's interest may change if additional equity is
raised by WS Holdco and there is no certainty that LDG will participate in
subsequent fundraises.

WS Holdco is an associate of DBAY, which, as LDG's investment manager and
substantial shareholder, is a Related Party to the Company pursuant to the AIM
Rules. Accordingly, the Investment is being treated as a Related Party
Transaction pursuant to AIM Rule 13 and the independent directors (being the
LDG directors excluding Colin Kingsnorth), having consulted with Strand Hanson
as the Company's nominated adviser, consider the terms of the Investment to be
fair and reasonable insofar as the shareholders are concerned.

Alliance Pharma - disposal of prescription business and reduction of net debt

Alliance Pharma Ltd, in which LDG has invested £39.0m and holds an economic
24.5% interest, announced in December 2025 that it had disposed of its
prescription products portfolio to two strategic buyers. The transaction
closed in early January with proceeds contributing to a net debt reduction
from £275m at the end of December 2025 to a forecast c. £175m at 31 March
2026. Following this transaction, the business is a pure-play consumer
healthcare platform with market leading brands in damaged skin (especially
scar and scalp care) and healthy aging. The portfolio is well positioned for
its next phase of growth.

 

This announcement contains inside information as defined in Article 7 of the
EU Market Abuse Regulation No 596/2014, as it forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act 2018, as
amended, and has been announced in accordance with the Company's obligations
under Article 17 of that Regulation.

 

For enquiries:

 

 Logistics Development Group plc                           Via FTI Consulting

 FTI Consulting

 Nick Hasell                                               +44 (0) 20 3727 1340

 Alex Le May

 Strand Hanson Limited (Financial and Nominated Adviser)

 James Dance                                               +44 (0) 20 7409 3494

 Richard Johnson

 Abigail Wennington

 Singer Capital Markets (Corporate Broker)                 +44 (0) 20 7496 3000

 James Maxwell - Corporate

 Alan Geeve - Investment Funds

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