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FIF Finsbury Food Group Plc

110.00
0.00 (0.00%)
24 Apr 2024 - Closed
Delayed by 15 minutes
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

Finsbury Food Group PLC PDMR Dealings (6785T)

16/11/2023 7:00am

UK Regulatory


TIDMFIF

RNS Number : 6785T

Finsbury Food Group PLC

16 November 2023

 
  Date:               16 November 2023 
  On behalf of:       Finsbury Food Group Plc ('Finsbury', 'the 
                       Company' or 'the Group') 
  Embargoed until:    0700hrs 
 

Finsbury Food Group plc

PDMR Dealings

Finsbury Food Group Plc (AIM: FIF), a leading UK specialty bakery and manufacturer of cake, bread and morning goods for both the retail and foodservice channels, announces that, on 15 November 2023, John Duffy, Chief Executive Officer, and Stephen Boyd, Group Finance Director, received ordinary shares of 1p each in the Company ("Ordinary Shares") pursuant to the Company's annual bonus arrangements in relation to the financial years ended 27 June 2015, 29 June 2019 and 27 June 2020. On a gross settled basis, Mr Duffy received 2,040,377 Ordinary Shares and Mr Boyd received 1,437,101 Ordinary Shares.

Following receipt of the shares, Mr Duffy and his immediate family, have an interest in 4,910,575 Ordinary Shares representing approximately 3.77 per cent. of the Company's total issued share capital and Mr Boyd and his immediate family, have an interest in 2,809,588 Ordinary Shares representing approximately 2.15 per cent. of the Company's total issued share capital.

In parallel, in connection with the Acquisition of Finsbury by Frisbee Bidco Limited ("Bidco"), all other participants in the Finsbury Share Plans either exercised some or all of their options and received Ordinary Shares or elected to surrender some or all of their options in favour of the grant of a new award over shares in Bidco (or a combination of both) in accordance with the proposals made by Finsbury and Bidco to them in letters dated 2 October 2023 in accordance with the Rule 15 Proposals.

The Ordinary Shares were transferred from the trustee of the Finsbury Food Group Plc Employee Benefit Trust ("EBT"). Following such transfers, the trustee of the EBT is interested in 1,085,693 Ordinary Shares, representing 0.83 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.

 
 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:         Transfer of Ordinary Shares 
                                          from the Finsbury Food Group 
                                          Employee Benefit Trust pursuant 
                                          to the Finsbury Share Plans, 
                                          in accordance with the Acquisition 
                                          by Frisbee Bidco Limited 
     ---------------------------------  ------------------------------------ 
 c)   Price(s) and volume(s):              Price       Volume 
                                            Nil cost    2,040,377 
                                                       ---------- 
     ---------------------------------  ------------------------------------ 
 d)   Aggregated volume:                 N/A 
       Price: 
     ---------------------------------  ------------------------------------ 
 e)   Date of the Transaction:           15 November 2023 
     ---------------------------------  ------------------------------------ 
 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:         Transfer of Ordinary Shares 
                                          from the Finsbury Food Group 
                                          Employee Benefit Trust pursuant 
                                          to the Finsbury Share Plans, 
                                          in accordance with the Acquisition 
                                          by Frisbee Bidco Limited 
     ---------------------------------  ------------------------------------ 
 c)   Price(s) and volume(s):              Price       Volume 
                                            Nil cost    1,437,101 
                                                       ---------- 
     ---------------------------------  ------------------------------------ 
 d)   Aggregated volume:                 N/A 
       Price: 
     ---------------------------------  ------------------------------------ 
 e)   Date of the Transaction:           15 November 2023 
     ---------------------------------  ------------------------------------ 
 f)   Place of the Transaction:          Outside a trading venue 
     ---------------------------------  ------------------------------------ 
 

For further information:

 
 Finsbury Food Group 
  John Duffy (Chief Executive) 
  Steve Boyd (Finance 
  Director)                       www.finsburyfoods.co.uk    029 20 357 500 
 Panmure Gordon (UK) 
  Limited 
  Dominic Morley 
  Atholl Tweedie 
  R upert Dearden                                            020 7886 2500 
 Alma PR 
  Sam Modlin 
  Rebecca Sanders-Hewett 
  Matthew Young                   finsbury@almapr.co.uk      020 3405 0205 
 

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.

-- The Company is one of the largest speciality bakery groups in the UK and, with its Overseas division, had sales in the financial year ended 1 July 2023 exceeding GBP413 million.

   --      The Company's bakery product range is comprehensive and includes: 

o Large premium and celebration cakes.

o Small snacking cake formats such as cake slices and bites.

o 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.

o Gluten-free bread, morning goods and cake ranges.

-- The Company is one of the largest ambient cake manufacturers in the UK, a market valued at GBP1.4 billion (source: Kantar Worldpanel 52 w/e 06 August 2023). The retail bread and morning goods market has a value of GBP6.3 billion (source: Kantar Worldpanel 52 w/e 03 September 2023). The retail Free From cake market is valued at GBP69.6 million (source: Kantar Worldpanel 52 w/e 06 August 2023). The retail Free From bread and morning goods market is valued at GBP186.4 million (source: Kantar Worldpanel 52 w/e 03 September 2023).

   --      The Company comprises a core UK Bakery division and an Overseas division: 

o The UK Bakery division has manufacturing sites in Cardiff, East Kilbride, Hamilton, Salisbury, Sheffield, Manchester, Pontypool and now Coatbridge.

o The Overseas division comprises the Company's 85% owned company, Lightbody-Stretz Limited, which supplies and distributes the Group's UK-manufactured products and third-party products, in Europe, and the Company's manufacturing facilities in Rybarzowice and ywiec in Poland.

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END

DSHNKABNABDKODD

(END) Dow Jones Newswires

November 16, 2023 02:00 ET (07:00 GMT)

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