LDG Logistics Development Group Plc

TIDMLDG

RNS Number : 9375P

Logistics Development Group PLC

12 October 2023

12 October 2023

Logistics Development Group plc

("LDG" or the "Company")

Finsbury Food Group - Further Investment

LDG announces that, on 11 October 2023, it purchased an additional 4,376,386 ordinary shares in Finsbury Food Group PLC ("Finsbury") (AIM:FIF), at a price of GBP1.098 per ordinary share, for a total cash consideration of GBP4,805,272 (excluding costs).

Following this purchase, LDG is interested in 16,140,365 Finsbury ordinary shares, representing approximately 12.4% 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 year ended 1 July 2023, Finsbury reported a pre-tax profit of GBP16.2 million and net assets of GBP126.6 million.

LDG is deemed to be acting in concert with DBAY Advisors Limited ("DBAY") for the purposes of the recommended cash offer by Frisbee Bidco Limited for Finsbury, announced on 20 September 2023.

For enquiries:

 
 Logistics Development Group      Via FTI Consulting 
  plc 
 
 FTI Consulting 
  Nick Hasell 
  Alex Le May                   +44 (0) 20 3727 1340 
 
 Strand Hanson Limited 
  (Financial and Nominated 
  Adviser) 
  Richard Johnson 
  James Dance 
  Abigail Wennington            +44 (0) 20 7409 3494 
 
 Investec Bank plc 
  (Broker) 
  Gary Clarence 
  Harry Hargreaves              +44 (0) 20 7597 5970 
 

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(END) Dow Jones Newswires

October 12, 2023 05:20 ET (09:20 GMT)

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