19 Oct 2020 07:00
Date: | 19 October 2020 |
On behalf of: | Finsbury Food Group plc ('Finsbury or 'the Company') |
Embargoed until: | 0700hrs |
Finsbury Food Group plc
Publication of Annual Report and Notice of AGM
In accordance with AIM Rule 20, Finsbury announces that the Report & Accounts of the Company for the year ended 27 June 2020 and its Notice of Annual General Meeting ("AGM") have been published today and are available to view and download from the Investors section of the Company's website at www.finsburyfoods.co.uk.
The AGM will be held at the offices of ONE Advisory Limited, 201 Temple Chambers, 3 - 7 Temple Avenue, London EC4Y 0DT at 9.30 am on Thursday, 19 November 2020.
AGM Arrangements
In light of the Covid-19 pandemic, the Company's AGM arrangements for 2020 will be different to previous years. In order to minimise travel and protect the health and safety of the Company' shareholders, Board, advisers and other attendees, the AGM will be a closed meeting. The Board has arranged for a quorum to be present at the AGM and no other shareholders, advisers or other guests will be allowed to attend the AGM in person (save at the invitation of the Board for the purposes of forming a quorum). Anyone seeking to attend the AGM who has not been specifically invited by the Board for the purposes of forming a quorum will be refused entry.
Although the AGM is closed, shareholders will be able to follow a webcast of the AGM. In order to gain access to the webcast, shareholders will be required to pre-register via the following link http://bit.ly/FIF_AGM. Shareholders are also invited to submit questions in writing in advance of the AGM by sending them to finsbury@almapr.co.uk by 6.00 p.m. on 17 November 2020. Please title your email "FIF AGM Shareholder Questions" and include your full name. Where appropriate, responses will be prepared and delivered by the Board at the AGM via the webcast. The Company reserves the right to respond only to questions put by shareholders whose names are on the register at 6.00 p.m. on 17 November 2020. Please note that the webcast will be a broadcast and not an interactive forum. If a shareholder wishes to raise a question, they are encouraged to do so using the procedure set out above.
Voting
Shareholders are encouraged to vote on the resolutions to be put to the AGM by proxy. As in 2019, shareholders will not receive a form of proxy for the AGM in the post. Instead, shareholders will find instructions in the section of the AGM Notice entitled "Notes" to enable them to vote electronically and how to register to do so (or obtain a paper proxy card if required). As the AGM will be a closed meeting, shareholders are advised to appoint the Chairman of the meeting as their proxy.
Contact:
Finsbury Food Group John Duffy (Chief Executive) Steve Boyd (Finance Director)
| www.finsburyfoods.co.uk | 029 20 357 500 |
Cenkos Securities Max Hartley (Corporate Finance)
| ||
Alma PR Rebecca Sanders-Hewett Sam Modlin David Ison | finsbury@almapr.co.uk | 020 3405 0205 |
Notes to editors:
· Finsbury Food Group Plc (AIM: FIF) is a leading UK manufacturer of cake and bread bakery goods, supplying a broad range of blue chip customers within both the grocery retail and 'out of home eating' foodservice sectors including major multiples and leading foodservice providers.
· The Company is one of the largest speciality bakery groups in the UK and, with its Overseas division, has sales in the financial year ending 27 June 2020 exceeding £306m.
· The Company's bakery product range is comprehensive and includes:
o Large premium and celebration cakes.
o Small snacking cake formats such as cake slices and bites.
o Artisan, healthy lifestyle and organic breads through to rolls, muffins (sweet and savoury) and morning pastries, all of which are available both fresh and frozen dependent on customer channel requirements.
o Gluten Free bread, morning goods and cake ranges.
· The Company is one of the largest ambient cake manufacturers in the UK, a market valued at over £969 million (source: IRI 52 w/e 12th September 2020). The retail bread and morning goods market has a value of £4.9 billion (source: Kantar Worldpanel 52 w/e 6th September 2020). The retail Free From cake market is valued at £52 million (source: Kantar Worldpanel 52 w/e 17th May 2020). The retail Free From bread & morning goods market is valued at £143 million (source: Kantar Worldpanel 52 w/e 6th September 2020). The UK Out of Home Foodservice Bakery sector is worth approximately £740bn per annum (source: UK foodservice data derived from MCA data for 52 weeks to 31st March 2020).
· The Company comprises a core UK Bakery division and an Overseas division:
o The UK Bakery division has manufacturing sites in Cardiff, East Kilbride, Hamilton, Salisbury, Sheffield, Manchester, and Pontypool.
· The Overseas division comprises the Company's 50% owned company, Lightbody Stretz Ltd, which supplies and distributes the Group's UK-manufactured products and third party products, primarily to Europe, and the Company's manufacturing facilities in Rybarzowice and Zywiec in Poland.