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Finsbury Food Group (FIF)

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Friday 15 March, 2019

Finsbury Food Group

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

[email protected]                       

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 8th December 2018). The annual retail bread and morning goods market has a value of £4.4 billion (source: Kantar Worldpanel 52 weeks to 30th 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 30th 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 30th 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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