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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Finsbury Food Group Plc | LSE:FIF | London | Ordinary Share | GB0009186429 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 110.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFIF
RNS Number : 5023Z
Finsbury Food Group PLC
10 January 2020
Date: 10 January 2020 On behalf Finsbury Food Group Plc ('Finsbury', 'the of: Company' or 'the Group') For immediate release
Finsbury Food Group Plc
Executive LTIP Option Exercises - PDMR Dealings
Finsbury Food Group Plc (AIM: FIF), a leading UK specialty bakery manufacturer of cake, bread and morning goods for both the retail and foodservice channels, announces the following transactions which took place on 9 January 2020:
- John Duffy, Chief Executive Officer, exercised nil-cost options over 1,137,395 ordinary shares of 1 pence each in the Company ("Shares"). In line with the approach previously followed in the settlement of vested options, Mr Duffy sacrificed 534,576 of the resulting Shares to settle income tax and national insurance liabilities.
- Steve Boyd, Group Finance Director, exercised nil-cost options over 720,898 ordinary shares. Mr Boyd sacrificed 338,823 of the resulting shares to settle income tax and national insurance liabilities.
In each case, the options were originally granted on 26 June 2015 pursuant to the Finsbury Food Group Plc 2015 Performance Share Plan (the "Plan") and vested in 2017 subject to the satisfaction of performance conditions over a three year period. The options were subject to a two-year holding period which has now expired. The number of Shares Mr Duffy and Mr Boyd acquired on exercise of their options include 28,514 and 18,073 additional Shares, respectively, which the Remuneration Committee of the Board determined to be paid to the option holders as dividend equivalents in recognition of dividends which have arisen since options became exercisable.
Following the above exercises, the Company has been informed by Mr Duffy and Mr Boyd that they have sold all of the Shares acquired. The Shares were acquired by the Finsbury Food Group Plc Employee Benefit Trust ("EBT") at a price per Share of 98.35 pence.
Following completion of these transactions, Mr Duffy and Mr Boyd hold 2,612,166 and 1,866,160 options over Shares respectively. Mr Duffy also holds 10,781 Shares and is further interested in 2,432,898 Shares owned by his wife, Alice Duffy, representing in aggregate approximately 1.9% of the Company's ordinary issued share capital. Mr Boyd holds no Shares but is interested in 1,095,543 Shares owned by his wife, Nicola Boyd, representing approximately 0.8% of the Company's ordinary issued share capital.
The Company confirms that it intends to release its routine pre-close interim trading update on 16 January 2020.
The Company's issued share capital comprises 130,383,361 Shares, each with voting rights. The figure of 130,383,361 Shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
-S -
For further information:
Finsbury Food Group www.finsburyfoods.co.uk 029 20 357 500
John Duffy (Chief Executive Officer)
Steve Boyd (Finance Director)
Cenkos Securities
Max Hartley (Corporate Finance)
Alma PR finsbury@almapr.co.uk 020 3405 0205
Rebecca Sanders-Hewett
Sam Modlin
1 Details of the person discharging managerial responsibilities/person closely associated a) Name: John Duffy -------------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------------- a) Position/Status: Chief Executive Officer -------------------------------- --------------------------------------------- b) Initial Notification/Amendment: Initial Notification -------------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------------- a) Name: Finsbury Food Group Plc -------------------------------- --------------------------------------------- b) LEI: 213800NP5Y3DYJM1MF44 -------------------------------- --------------------------------------------- 4. Details of transaction(s); section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. ------------------------------------------------------------------------------- a) Description of the financial Ordinary Shares of 1 pence instrument: each Identification code: ISIN: GB0009186429 -------------------------------- --------------------------------------------- b) Nature of the transaction: 1. Acquisition of shares for nil cost in connection with the Finsbury Food Group Plc 2015 Performance Share Plan 2. Sacrifice of shares in satisfaction of tax liabilities 3. Sale of shares -------------------------------- --------------------------------------------- c) Price(s) and volume(s): Acquisition of Shares Price Volume Nil-cost 1,137,395 ---------- Sacrifice of Shares Price Volume Nil-cost 534,576 -------- Sale of Shares Price Volume 98.35 602,819 -------- --------------------------------------------- d) Aggregated volume: N/A Price: --------------------------------------------- e) Date of the Transaction: 9 January 2020 -------------------------------- --------------------------------------------- f) Place of the Transaction: Outside a trading venue -------------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities/person closely associated a) Name: Stephen Boyd -------------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------------- a) Position/Status: Group Finance Director -------------------------------- --------------------------------------------- b) Initial Notification/Amendment: Initial Notification -------------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------------- a) Name: Finsbury Food Group Plc -------------------------------- --------------------------------------------- b) LEI: 213800NP5Y3DYJM1MF44 -------------------------------- --------------------------------------------- 4. Details of transaction(s); section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. ------------------------------------------------------------------------------- a) Description of the financial Ordinary Shares of 1 pence each instrument: ISIN: GB0009186429 Identification code: -------------------------------- --------------------------------------------- b) Nature of the transaction: 1. Acquisition of shares for nil cost in connection with the Finsbury Food Group Plc 2015 Performance Share Plan 2. Sacrifice of shares in satisfaction of tax liabilities 3. Sale of shares -------------------------------- --------------------------------------------- c) Price(s) and volume(s): Acquisition of Shares Price Volume Nil-cost 720,898 -------- Sacrifice of Shares Price Volume Nil-cost 338,823 -------- Sale of Shares Price Volume 98.35 382,075 -------- -------------------------------- --------------------------------------------- d) Aggregated volume: N/A Price: -------------------------------- ---------------------------------------------
e) Date of the Transaction: 9 January 2020 -------------------------------- --------------------------------------------- f) Place of the Transaction: Outside a trading venue -------------------------------- ---------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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(END) Dow Jones Newswires
January 10, 2020 12:02 ET (17:02 GMT)
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