Logistics Development Group PLC Finsbury Food Group Investment - Update (4015S)
03 Noviembre 2023 - 11:31AM
UK Regulatory
TIDMLDG
RNS Number : 4015S
Logistics Development Group PLC
03 November 2023
3 November 2023
Logistics Development Group plc
("LDG" or the "Company")
Finsbury Food Group Investment - Update
LDG notes that, at the Court Meeting and General Meeting, held
today in connection with the recommended offer ("Offer") by Frisbee
Bidco Limited for the entire issued and to be issued ordinary share
capital of Finsbury Food Group PLC ("Finsbury") (other than the
shares held in Finsbury by funds managed by DBAY Advisors Limited
("DBAY"), to be effected by way of a scheme of arrangement (the
"Scheme"), the requisite majorities of Scheme shareholders voted in
favour of the resolution to approve the Scheme at the Court
Meeting, and the requisite majority of Finsbury shareholders voted
to pass the special resolution to approve and implement the
Scheme.
The Court Hearing to sanction the Scheme is expected to take
place on 14 November 2023 and the Scheme is expected to become
effective on 16 November 2023.
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 interested in 16,140,365 Finsbury shares, representing
approximately 12.4% of Finsbury's issued share capital. Pursuant to
LDG's discretionary investment management agreement with DBAY,
LDG's Finsbury shares are deemed to be part of the Finsbury shares
held by funds managed by DBAY, and consequently LDG is deemed to be
acting in concert with DBAY for the purposes of the Offer.
A link to the full announcement made by Finsbury is set out
below:
www.londonstockexchange.com/news-article/FIF/results-of-court-meeting-and-general-meeting/16196082
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)
James Dance
Richard Johnson
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
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November 03, 2023 13:31 ET (17:31 GMT)
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