Director/PDMR Shareholding

RNS Number : 0899T

Finsbury Food Group PLC

15 March 2019

 

Finsbury Food Group Plc

("Finsbury" or the "Company") 

Director/PDMR Shareholding  

The Company announces that Mr. Robert Beveridge, Non-Executive Director of the Company, today purchased 14,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") at a price of 70.645 pence per Ordinary Share.

Following this purchase, Mr Beveridge holds 14,000 Ordinary Shares, representing approximately 0.01 per cent. of the Company's issued Ordinary Share capital.

- ENDS -

For further information:

Finsbury Food Group                       John Duffy (Chief Executive) Steve Boyd (Finance Director)	www.finsburyfoods.co.uk	029 20 357 500
Cenkos Securities Max Hartley (Corporate Finance)		0207 397 8900
Alma PR                                          Rebecca Sanders-Hewett Sam Modlin	[e-mail]	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, has sales in the financial year ending 30 June 2018 exceeding £300m.

·      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.

·      The Company is one of the largest ambient cake manufacturers in the UK, a market valued at over £950 million (source: IRI, 52 w/e 8^th December 2018). The annual retail bread and morning goods market has a value of £4.4 billion (source: Kantar Worldpanel 52 weeks to 30^th December 2018). The UK foodservice bread and savoury morning goods bakery sector is worth approximately £743 million per annum (source: derived from MCA data for 52 weeks to 30^th September 2018). The UK foodservice cake and sweet morning goods bakery sector is worth approximately £913 million per annum (UK foodservice data derived from MCA data for 52 weeks to 30^th September 2018).

·      The Company comprises a UK Bakery division and an Overseas division:

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

o  The Overseas division comprises the Company's 50% owned company, Lightbody Stretz Ltd, which supplies and distributes the Group's UK-manufactured products and third party products, primarily to Europe.

·      Since the year end date of 30th June 2018, the Company completed the acquisition of Free From baker Ultrapharm, giving the Group a significant opportunity to access an exciting and high growth marketplace and manufacturing facilities in Pontypool in the UK and in Żywiec, Poland.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Robert Beveridge
2	Reason for the notification
a)	Position/Status:	Non-Executive 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 instrument: Identification code:	Ordinary Shares of 1 pence each GB0009186429
b)	Nature of the transaction:	Purchase of Ordinary Shares of 1 pence each
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		70.645p	14,000
d)	Aggregated volume: Price:	N/A
e)	Date of the Transaction:	15 March 2019
f)	Place of the Transaction:	AIMX

 

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