Logistics Development Group plc
(“LDG”) or the “Company”)
Finsbury Food Group Investment
LDG is pleased to announce that, further to its announcement on 26 August 2022, it has acquired a further 5,132,000 ordinary shares in Finsbury Food Group plc (“Finsbury”) (LON:FIF) at an average price of £0.81 per ordinary share, for a total cash consideration of £4,165,820.
Following these purchases, LDG is interested in 8,832,000 ordinary shares in Finsbury, representing approximately 6.77% 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 53 weeks period ending 2 July 2022 Finsbury reported a pre-tax profit of £17.0 million. As at, 31 December 2021, Finsbury reported net assets of £113.9 million.
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