Result of AGM

RNS Number : 8756F

Finsbury Food Group PLC

19 November 2020

 

19 November 2020  

For immediate release

Finsbury Food Group Plc Results of Annual General Meeting The Annual General Meeting of Finsbury Food Group Plc was held at the offices of ONE Advisory Limited, 201 Temple Chambers, 3-7 Temple Avenue, London, EC4Y 0DT at 9.30 am on Thursday, 19 November 2020. All 8 resolutions put to members were duly passed on a poll. Resolutions 1 to 6 were passed as ordinary resolutions and resolutions 7 and 8  were passed as special resolutions. The number of votes lodged on the poll for and against each of the resolutions proposed (which should be read alongside the Notice of Annual General Meeting) is set out below.  Resolution Votes for % Votes against % Votes Withheld* Resolution 1 ( Ordinary ) To receive the reports of the Directors and the Financial Statements for the 52 weeks ended 27 June 2020 together with the report of the auditor thereon. 66,841,340 96.12 2,695,702 3.88 3,584 Resolution 2 ( Ordinary ) To re-elect Stephen Boyd as a Director. 69,404,173 99.81 130,869 0.19 5,584 Resolution 3 ( Ordinary ) To re-elect Raymond Duignan as a Director. 69,360,419 99.75 174,223 0.25 5,984 Resolution 4 ( Ordinary ) To re-appoint PricewaterhouseCoopers LLP as auditor of the Company . 68,698,380 99.51 335,836 0.49 506,410 Resolution 5 ( Ordinary ) To authorise the Directors to determine the fees payable to the auditor. 69,212,210 99.54 322,489 0.46 5,927 Resolution 6 ( Ordinary ) To authorise the Directors to allot shares in the Company . 69,409,771 99.85 104,444 0.15 26,411 Resolution 7 ( Ordinary ) To resolve that the Directors be empowered pursuant to section 570 of the Companies Act 2006 to allot equity securities for cash. 69,466,085 99.93 46,130 0.07 28,411 Resolution 8 ( Ordinary ) To authorise the Company to make market purchases of its Ordinary Share s. 68,971,977 99.21 546,909 0.79 21,740 * A vote withheld is not a vote in law.

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 27 June 2020 exceeding £306m.

· 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 over £969 million (source: IRI 52 w/e 12 ^th  September 2020). The retail bread and morning goods market has a value of £4.9 billion (source: Kantar Worldpanel 52 w/e 6 ^th  September 2020). The retail Free From cake market is valued at £52 million (source: Kantar Worldpanel 52 w/e 17th May 2020). The retail Free From bread & morning goods market is valued at £143 million (source: Kantar Worldpanel 52 w/e 6 ^th  September 2020). The UK Out of Home Foodservice Bakery sector is worth approximately £740bn per annum (source: UK foodservice data derived from MCA data for 52 weeks to 31st March 2020).

· 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, and Pontypool.

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

 

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