Annual Bonus Scheme - PDMR Dealings

RNS Number : 1892Q

Finsbury Food Group PLC

26 October 2021

 

Date:	26 October 2021
On behalf of:	Finsbury Food Group Plc ('Finsbury', 'the Company' or 'the Group')
Embargoed until:	0700hrs

Finsbury Food Group plc

Annual Bonus Scheme - 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 25 October 2021, 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 year ended 26 June 2021. On a net settled basis, Mr Duffy received 120,654 Ordinary Shares and Mr Boyd received 84,514 Ordinary Shares.

Following receipt of the shares, Mr Duffy and his immediate family, have an interest in 2,738,246 Ordinary Shares representing approximately 2.10 per cent. of the Company's total issued share capital and Mr Boyd and his immediate family, have an interest in 1,280,057 Ordinary Shares representing approximately 0.98 per cent. of the Company's total issued share capital. 

The Ordinary Shares were transferred from the trustee of the Finsbury Food Group Plc Employee Benefit Trust ("EBT"). Following the transaction, the trustee of the EBT is interested in 5,988,987 Ordinary Shares, representing 4.59 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 instrument: Identification code:	Ordinary Shares of 1 pence each ISIN: GB0009186429
b)	Nature of the transaction:	Issue of Ordinary Shares pursuant to the Company's annual bonus scheme.
c)	Price(s) and volume(s):	Price Volume Nil cost (Reference price: 94.00p) 120,654
d)	Aggregated volume: Price:	N/A
e)	Date of the Transaction:	25 October 2021
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 instrument: Identification code:	Ordinary Shares of 1 pence each ISIN: GB0009186429
b)	Nature of the transaction:	Grant of awards over Ordinary Shares under the Company's long term incentive plan
c)	Price(s) and volume(s):	Price Volume Nil cost (Reference price: 94.00p) 84,514
d)	Aggregated volume: Price:	N/A
e)	Date of the Transaction:	25 October 2021
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 Oliver Cardigan (Corporate Finance) Atholl Tweedie Erik Anderson (Corporate Broking) Edward Walsh		020 7886 2500
Alma PR  Sam Modlin David Ison Hilary Buchanan 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 26 June 2021 exceeding £313m.

· 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 £992 million (source: IRI 52 w/e 11^th September 2021). The retail bread and morning goods market has a value of £5.1 billion (source: Kantar Worldpanel 52 w/e 5^th September 2021). The retail Free From cake market is valued at £52 million (source: Kantar Worldpanel 52 w/e 8^th August 2021). The retail Free From bread & morning goods market is valued at £146 million (source: Kantar Worldpanel 52 w/e 5^th September 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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