REG - Roebuck Food Group - Executive Director Bonus

Roebuck FoodAnnouncement

03/03/2023 17:45

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RNS Number : 9061R  Roebuck Food Group PLC  03 March 2023

Roebuck Food Group plc ("the Company")

Executive Director Bonus

 

The Board of the Company has agreed to pay a bonus of £135,000 to Executive
Deputy Chairman Aidan Hughes in recognition of supplementary work undertaken
by him for the Company in 2022 in connection with the smooth handover of the
Group's former cold store business and resolution of outstanding liabilities
in respect of the sale of that business.

The sale of the cold store business was completed on 29 October 2021, with the
consequential capital return of £49.916 million to shareholders completed on
29 November 2021.  Mr Hughes then worked until 30 April 2022 with the
purchaser to address practical degrouping issues and resolution of certain
liabilities of that business, which were discharged in the first six months of
2022, as referred to in the Company's interim results for the half-year ended
30 June 2022 announced on 28 September 2022.

The bonus is separate and distinct from Mr Hughes' contractual entitlement as
executive director of the Company. Mr Hughes has a service agreement with the
Company providing for a 12 month notice period at a basic salary of £115,000.

The directors of the Company (Mr Hughes excepted) consider, having consulted
with the Company's nominated adviser Davy, that the terms of this bonus is
fair and reasonable insofar as its shareholders are concerned.

The directors of the Company accept responsibility for this announcement.

Enquiries:

 

Roebuck Food Group plc

Gerard Murphy, Group Company Secretary

Telephone: + 44 28  3025 7760

 

Davy (Nomad)

Anthony Farrell

Telephone: + 353 1 679 6363

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