23 Dec 2014 17:01
Date: | 23 December 2014 |
On behalf of: | Finsbury Food Group plc ('Finsbury', 'the Company' or 'the Group') |
For immediate release |
Finsbury Food Group plc
EXERCISE OF OPTIONS AND ISSUE OF NEW SHARES
The Company announces that Mr Steve Boyd, Finance Director, has today exercised his option over 146,341 ordinary shares of 1p each ("New Ordinary Shares") at an exercise price of 20.5 pence per ordinary share. These options were granted to Mr Boyd under the terms of The Finsbury Food Group Long Term Incentive Plan 2006.
An application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur on 6th January 2015. Following Admission the Company's issued share capital will consist of 126,602,209 ordinary shares of 1p each.
The Company has been notified that, following admission, Mr Boyd will transfer the 146,341 Ordinary Shares into the name of his wife, Nicola Clare Boyd, for nil consideration. Following Admission and transfer, Mr Boyd (including shares held in his wife's name) will hold 790,529 ordinary shares in the Company representing approximately 0.6 per cent. of the Company's enlarged issued share capital.
Following this exercise of options, My Boyd has 2,753,659 outstanding options over ordinary shares of 1p each.
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 7382 4730
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.