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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Premier Foods Plc | LSE:PFD | London | Ordinary Share | GB00B7N0K053 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.40 | -0.26% | 155.80 | 154.20 | 154.80 | 158.00 | 152.80 | 152.80 | 1,598,307 | 16:35:26 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Food Preparations, Nec | 1.01B | 91.6M | 0.1054 | 14.63 | 1.34B |
TIDMPFD TIDMIRSH
RNS Number : 1207Y
Premier Foods plc
01 March 2017
Premier Foods plc
("Premier Foods" the "Company")
1 March 2017
Board Appointment
Premier Foods plc is pleased to announce the appointment of Daniel Wosner as a Non-Executive Director of the Company from 1(st) March 2017. Daniel is Managing Director and Head of Europe at Oasis Management Company Limited ("Oasis"), an international investment firm and the Company's second largest shareholder. Before joining Oasis in 2016, Daniel held senior investment banking roles at Barclays and Lehman Brothers.
David Beever, Chairman of Premier Foods, said:
"We are pleased to welcome Daniel Wosner of Oasis to the board as a non-executive director and look forward to working with him to drive the Company's long-term value and enhance value for all shareholders. Daniel's perspective and experience will be a valuable addition to the team as we continue our effort to maximise the potential of our category leading brands, strong customer partnerships and supply chain expertise."
Daniel Wosner added:
"We appreciate the constructive engagement that we have had with Premier Foods Chairman David Beever and the Executive Leadership Team, and I welcome the opportunity to join the Board. I look forward to working with Chief Executive Officer Gavin Darby, and his colleagues to achieve the full potential and value from the Company's outstanding brand portfolio."
Seth Fischer, Chief Investment Officer & Founder of Oasis, commented:
"We have followed Premier Foods for several years and are optimistic about the long-term prospects of the Company. As significant investors, we are fully committed to building long-term value for all shareholders."
Accordingly, the Company and Oasis have today entered into a customary relationship agreement, a summary of the terms is available on the Company's website. Some of the key terms are set out below.
-- Daniel will be appointed to the Remuneration Committee of the Board
-- Oasis will acquire in aggregate 10% of the ordinary share capital of the Company by 30(th) June 2018
-- The relationship agreement with Oasis and Daniel's tenure as a Non-Executive Director will continue until the day following the 2019 AGM, unless extended
-- For the term of the relationship agreement, Oasis is to hold a minimum of 7% and a maximum of 15% shareholding in the Company
No further information is required to be disclosed pursuant to LR 9.6.13 R.
For further information please contact:
Alastair Murray, Chief Financial Officer Andrew McDonald, General Counsel & Company Secretary +44 (0) 1727 815850 Richard Godden, Head of Investor +44 (0) 1727 815850 Relations +44 (0) 1727 815850 Maitland Kate O'Neill +44 (0) 20 7379 Tom Eckersley 5151
Notes to editors:
A summary of terms of the relationship agreement can be found on the Company's website:
http://www.premierfoods.co.uk/investors/shareholder-centre
About Oasis Management
Oasis Management Company Ltd. manages private investment funds focused on opportunities in a wide array of asset classes across countries and sectors. Oasis was founded in 2002 by Seth Fischer, who leads the firm as its Chief Investment Officer. More information available at https://oasiscm.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
March 01, 2017 02:01 ET (07:01 GMT)
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