Finsbury Food Group Investment

RNS Number : 1745D

Logistics Development Group PLC

18 October 2022

 

18 October 2022

Logistics Development Group plc

("LDG") or the "Company")

Finsbury Food Group Investment

LDG is pleased to announce that, further to its announcement on 26 August 2022, it has acquired a further 5,132,000 ordinary shares in Finsbury Food Group plc ("Finsbury") (LON:FIF) at an average price of £0.81 per ordinary share, for a total cash consideration of £4,165,820.

Following these purchases, LDG is interested in 8,832,000 ordinary shares in Finsbury, representing approximately 6.77% of Finsbury's issued share capital.

Finsbury operates a specialty foods business which supplies boxed cakes to supermarkets located throughout the United Kingdom. Finsbury's products include novelty and celebration cakes, chocolate cakes, and muffins.

For the 53 weeks period ending 2 July 2022 Finsbury reported a pre-tax profit of £17.0 million. As at, 31 December 2021, Finsbury reported net assets of £113.9 million.

For enquiries:

Logistics Development Group plc	Via FTI Consulting
FTI Consulting Nick Hasell Alex Le May Cally Billimore	[phone]
Strand Hanson Limited (Financial and Nominated Adviser) James Spinney James Dance Abigail Wennington	[phone]
Investec Bank plc (Broker) Gary Clarence Harry Hargreaves	[phone]

 

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