TIDMFIF

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        %       Votes       %      Votes 
                                                                  for                  against            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                finsbury@almapr.co.uk      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 GBP306m.

   --    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 GBP969 million (source: IRI 52 w/e 12 (th) September 2020). The retail bread and morning goods market has a value of GBP4.9 billion (source: Kantar Worldpanel 52 w/e 6 (th) September 2020). The retail Free From cake market is valued at GBP52 million (source: Kantar Worldpanel 52 w/e 17th May 2020). The retail Free From bread & morning goods market is valued at GBP143 million (source: Kantar Worldpanel 52 w/e 6 (th) September 2020). The UK Out of Home Foodservice Bakery sector is worth approximately GBP740bn 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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