EBT Share Purchase

RNS Number : 9987X

Finsbury Food Group PLC

10 May 2021

 

Date:	10 May 2021
On behalf of:	Finsbury Food Group Plc ('Finsbury', 'the Company' or 'the Group')
For immediate release

Finsbury Food Group Plc

EBT Share Purchase

Finsbury Food Group Plc (AIM: FIF), a leading UK speciality bakery manufacturer of cake, bread and morning goods for both the retail and foodservice channels, has been notified that, on 30 April 2021 and 5 May 2021, the Finsbury Food Group plc Employee Benefit Trust (the "EBT") purchased 1,000,000 and 147,601 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at a price of £0.867375 and £0.885000 per Ordinary Share respectively.

The Ordinary Shares, which will be held in the EBT, are intended to be used to satisfy awards made under the Finsbury Food Group Plc Long Term Incentive Plan and to satisfy future annual bonus payments. The EBT is a discretionary trust for the benefit of employees of Finsbury and its subsidiaries, including the Executive Directors of Finsbury.

Following the above purchases, the EBT holds a total of 6,194,155 Ordinary Shares, representing approximately 4.75% of the Company's issued ordinary share capital.  

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 Oliver Cardigan (Corporate Finance) Atholl Tweedie Joanna Langley Erik Anderson (Corporate Broking)		020 7886 2500
Alma PR   Sam Modlin David Ison Molly Gretton	[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 27 June 2020 exceeding £306m.

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

· Large premium and celebration cakes.

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

· 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.

· 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 over £961 million (source: IRI 52 w/e 27^th March 2021). The retail bread and morning goods market has a value of £5.1 billion (source: Kantar Worldpanel 52 w/e 18^th April 2021). The retail Free From cake market is valued at £52 million (source: Kantar Worldpanel 52 w/e 18^th April 2021). The retail Free From bread & morning goods market is valued at £144 million (source: Kantar Worldpanel 52 w/e 18^th April 2021).

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

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

· 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, and the Company's manufacturing facilities in Rybarzowice and Zywiec in Poland.

 

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