27 May 2014 15:11
Date: | 27 May 2014 |
On behalf of: | Finsbury Food Group plc ('Finsbury', 'the Company' or 'the Group') |
Finsbury Food Group plc
EXERCISE OF OPTIONS AND ISSUE OF NEW SHARES
The Company announces that Mr John Duffy, Chief Executive, has today exercised his option over 111,000 ordinary shares of 1p each ("New Ordinary Shares") at an exercise price of 27 pence per ordinary share. These options were granted to Mr Duffy under the terms of The Finsbury Food Group Long Term Incentive Plan 2006.
An application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur on 2 June 2014. Following Admission the Company's issued share capital will consist of 66,542,555 ordinary shares of 1p each
Following Admission, Mr Duffy will hold 1,855,163 ordinary shares in the Company representing approximately 2.8 per cent. of the Company's enlarged issued share capital.
For further information:
Finsbury Food Group plc www.finsburyfoods.co.uk
John Duffy (Chief Executive) 029 20 357 500
Stephen Boyd (Finance Director)
Cenkos Securities plc
Bobbie Hilliam (Corporate Finance)
Alex Aylen (Sales)
Redleaf Polhill finsbury@redleafpr.com
Emma Kane/Rebecca Sanders-Hewett 020 7566 6720
Jenny Bahr
Publication quality photographs are available via Redleaf Polhill on the numbers shown above
Notes to Editors:
· Finsbury Food Group plc (AIM: FIF), is a leading manufacturer of cake, bread and bakery goods. Within its Cake business, the Group's focus is premium and celebration cakes plus low fat cake slices. Its Bread business manufactures artisan and organic bread and also morning goods.
· Finsbury Food Group is the second largest manufacturer of Ambient Packaged Cake (excluding In Store Bakery) in the UK, a market valued at £939m (Source: Kantar Worldpanel Total UK Coverage, January 2014).
· The Group's strategy is to generate returns for shareholders by building a crafted bakery group focused on premium, celebration and well being that delivers for customers and consumers. Finsbury continues to develop its licensed brand portfolio to complement its core retailer brand relationships and improve its understanding of and response to changing consumer needs.
· Whilst the Company sees exciting organic growth opportunities in all its businesses and its short-term focus is on integrating and growing its existing businesses, the aim is to take advantage of the appropriate bolt on acquisitions to drive longer term value as opportunities and circumstance allow.