TIDMTOT

RNS Number : 7550P

Total Produce Plc

31 May 2018

Total Produce plc

Stock Exchange Announcement

Total Produce plc targeting continued growth in 2018

Total Produce, the leading international fresh produce company is pleased to confirm that the Group is targeting continued growth for 2018 on a like-for-like basis and excluding the impact of the Dole transaction. The Group's full year growth expectations are unchanged. The first half-year growth will be limited due to the unusual weather and currency movements in the period.

As previously announced on 1(st) February 2018, the Group entered into a binding agreement to acquire a 45% stake in Dole Food Company for $300m. Dole is one of the largest fresh produce companies in the world. The deal is subject to regulatory approval and is expected to close in the second half of 2018.

On 1(st) February, 63m new ordinary shares were issued raising $180m to finance the Dole transaction. The 2019 financial year will be the first full year reflecting the scale of this transformative transaction.

Subject to shareholder approval, a final dividend of 2.4527 cent per share will be paid on 1(st) June 2018 representing a 10% increase on last year.

Total Produce is in a strong financial position and the Dole transaction represents a very significant step and a continuation of the Group's successful expansion strategy.

31 May 2018

For further information, please contact:

Peter O'Brien, Wilson Hartnell PR

Tel: +353-1-669 0030

Ivan Murphy, Davy Corporate Finance

Tel: +353-1-679 6363

Any forward-looking statements made in this press release have been made in good faith based on the information available as of the date of the press release and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in this press release, and the Company undertakes no obligation to update any such statements whether as a result of new information, future events, or otherwise. Total Produce's Annual Report contains and identifies important factors that could cause these developments or the Company's actual results to differ materially from those expressed or implied in these forward-looking statements.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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May 31, 2018 02:00 ET (06:00 GMT)

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