12 Nov 2015 07:00
Date: | 12 November 2015 |
On behalf of: | Finsbury Food Group plc ('Finsbury', 'the Company' or 'the Group') |
Finsbury Food Group plc
Transfer of Shares
Finsbury Food Group plc (AIM: FIF) ("the Company"), a leading UK specialty bakery manufacturer of cake, bread and morning goods for both the retail and foodservice channels, announces that, on 11 November 2015, John Duffy, Chief Executive, and Steve Boyd, Finance Director, received ordinary shares in the Company of 1p each ("Ordinary Shares"). Mr Duffy received 85,837 Ordinary Shares and Mr Boyd received 54,405 Ordinary Shares. Each of Mr Duffy and Mr Boyd has requested that the ordinary shares be issued to his wife.
Following such receipt, Mr Duffy and Mr Boyd will have beneficial and non-beneficial interests in 2,197,599 and 961,034 Ordinary Shares respectively, representing approximately 1.72 per cent. and 0.75 per cent. of the Company's total issued share capital. The Ordinary Shares received form part of the payment to Mr Duffy and Mr Boyd of their annual bonuses in relation to the financial year ended 27 June 2015.
The Ordinary Shares were transferred from the trustee of The Finsbury Food Group plc Employee Benefit Trust (the "EBT"). The trustee of the EBT is interested in 747,817 Ordinary Shares, representing 0.58 per cent. of the Company's total issued share capital.
The EBT is a discretionary trust for the benefit of employees of the Company and its subsidiaries. The Executive Directors of the Company are included in the class of potential beneficiaries of the EBT and are deemed to be interested in those shares and the dealings thereof.
- ENDS -
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) | |
Oliver Baxendale (Sales) | |
Redleaf Communications | finsbury@redleafpr.com |
Rebecca Sanders-Hewett | 020 7382 4730 |
Harriet Lynch |
Publication quality photographs are available via Redleaf Communications on the numbers shown above
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.
§ Following the acquisition of the Fletchers Group of bakeries, the Company is one of the largest speciality bakery groups in the UK with annualised sales approaching £300 million.
§ The Company's bakery product range is comprehensive and includes:
- Large premium and celebration cakes.
- Small snacking cake formats such as cake slices and bites.
- 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.
§ The Company is now the second largest manufacturer of ambient packaged cake (excluding In Store Bakery) in the UK, a market valued at £948m (Source Symphony IRI 52 w/e 20th June 2015). The annual bread and morning goods market has a value in excess of £3.5 billion (source Kantar Worldpanel). The UK foodservice bakery sector is worth approximately £900 million per annum, 70 per cent of which is in morning goods.
§ The Company comprises a UK Bakery division and an Overseas division:
- UK Bakery has manufacturing sites in Cardiff, Hamilton, East Kilbride, Salisbury, Sheffield, London and Manchester.
- The overseas sector comprise the Company's 50% owned Company Lightbody Stretz Ltd supplies and distributes the Group's UK manufactured products and third party products primarily to Europe.