Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Mr Kipling maker Premier Foods is to offer 'trans inclusivity' training to all staff, in a further shake-up of workplace policies.
Premier Foods, which also makes Bisto and Batchelors brands, is launching "new modern workplace policies" which include providing online training for all 4,000 staff on menopause and how to cope with it, as well as practical tips for those working with colleagues going through menopause.
Menopause champions are set to host regular "menopause cafes" for colleagues to discuss their experiences, it said.
I’m out !!!!!
And the share price takes a hit!
What can you do?
Well I am holding here, would buy more if I had the available funds!
Premier Foods wins ratings upgrade from Moody's
7th June 2022 21:48
Premier Foods PLC - St Albans, England-based food manufacturer and owner of grands such as Bisto, Sharwood's and Mr Kipling - Wins a corporate family rating upgrade from Moody's. The New York-based financial services company upgrades its rating to Ba3 from B1 and its probability of default rating to Ba3-PD from B1-PD. Also changes its outlook to stable from positive.
Moody's says the upgrade reflects the company's "resilient performance" in the year ending March 31 in the context of rising input costs and supply chain frictions.
David Wosner to leave as Oasis runs down its holdings .Selling to Nissin ps://www.thegrocer.co.uk/mergers-and-acquisitions/nissin-strengthens-premier-foods-partnership-as-it-buys-chunk-of-shares-from-activist-oasis/667858.article
Interesting times
Thanks Me12345 that explains what is going on.
I guess it makes it even more unlikely that a bid will come from anywhere else when Nissin have such a substantial holding.
Signing of Share Purchase Agreement
to Acquire Additional Shares in Premier Foods plc
On May 24, 2022, Nissin Foods Holdings Co., Ltd. (President & Representative Director CEO, Koki Ando; “Nissin”) entered into an agreement to acquire 3.9% of shares in Premier Foods plc (“Premier Foods”) from Oasis Investments II Master Fund Ltd. (the “Acquisition”).
Nissin and Premier Foods entered into a strategic alliance in March 2016 and have since built on our respective strengths to collaborate on various fronts. For example, Nissin has leveraged Premier Foods’ capabilities to distribute Cup Noodles, Soba, and other brands produced and sold for the UK & European markets, and Nissin has co-developed and co-manufactured Premier Foods’ Batchelors Super Noodles pots products. The Acquisition is intended to further strengthen the existing strategic relationship and to contribute to continued value creation at both the Nissin Foods Group and Premier Foods.
Upon completion of the Acquisition, Premier Foods is expected to be treated as an equity method affiliate of Nissin for accounting purposes. Financial impact on Nissin’s consolidated earnings from the Acquisition is still under review, and additional disclosure will be made if deemed required.
Details of the Transaction:
1. Number of shares acquired
2. Percentage of shares acquired
3. Total percentage of shares to be held
upon completion of the Acquisition
33,550,000 shares 3.9% *
22.9% *
* Based on 862,999,357 ordinary shares outstanding as at 2022/4/30.
Not sure what is going on here. Oasis used to have a much bigger holding than 1.8%.
I am wondering if in fact they have reduced their holding to 1.8% and sold a load of shares to Nissin. If they had gone from zero to 1.8 % they wouldn’t have to notify that would they ?
It’s all very confusing.
Now Oasis Investments II Master Fund Ltd has taken 1.8% holding, Do they know something is about to happen or are they both looking long term?
You are right Jed, it doesn’t make a whole lot of sense. Unless…..they know something about future trading that we don’t yet know. Obviously they have a seat on the board so are very much up to speed with what is going on. Also this will have been their first opportunity to deal in the shares for a while because of the closed period leading up to the results announcement.
Wow all of a suddon Nissin foods ups it's holding to 23%. If it now tends to make a full bid why didn't it move when the SP was 50p ish. Doesn't make any sense.
I was hoping the idea of PFD being take over target had gone. If it was not wanted when the share price was low why pay more now? Onwards and upwards I hope . Maybe buy a small bakery abroad to produce Mr Kipling cakes ?
I agree with T2R
forget M&A which is cause of all the problem for the past 15 years....
What's needed good old boring divi growth ( paying 4 - 5%); this will encourage more divi inclined fund managers to invest in us.
Also encourage one of the big player to take us over :)
It was M&A that put us into zombie land in the first place.
Maybe we will be better suited as a takeover target. Where have the Japanese gone?
I agree with that Samson…..the danger is that we go from zombie to boring.
The current BOD have done a wonderful job in getting us out of the zombie state (helped by covid) but now they need to show that they can handle some M&A activity to take us to another level.
Good and steady with increase in dividend but where does the future go? Need some acquisitions to replace the likes of Hovis, Branston, Hartleys Sarsons etc which were sold off in the past or we will stagnate.
Happy with “steady” as this is quietly solid progress, with improving Div. A good one to lock away.
Agree Dogger
Steady as she goes
Positives also are more debt being paid down and well managed pension schemes .
We need the international sales to get moving a lot more this year sounds promising so far
Results. Hopefully we can now move away from comparing the results to those of two years ago ?. 20% increase in divi from a low base.
Apart from this one……not a single post on the day before the results announcement.
Can’t remember when that last happened.
I'm expecting at least 1.4p in dividends
From last years results divi cover was 12, expecting progressive divi payments going forward.
My view is that there will be a divi declared on Wednesday and that it will be better that the 1p last year…….but that is pure speculation on my part
Wonder if a dividend will be declared for 2022 or was last year just to placate the shareholders? Last year divi was announced around this time will it carry on this year?
But you are right Dogger, this used to be a hectic board!
I still maintain this is a simmering pot, will come to the boil unexpectedly one way or another.
People always need to eat and the rich are still getting richer, they like quality food and I believe that is what we do here. I also think the great production facilities mean we can produce food for all own brands across the retail market. Basically, we can turn our hands, in this changing, tough retail time. All the talk of hardship too, but have you seen any restaurants closing, because I haven't!