LOGISTICS DEVELOPMENT GROUP PLC

Capital/Financing Update • Oct 12, 2023

National Storage Mechanism | Additional information

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 £1.098 per ordinary share, for a total cash consideration of £4,805,272 (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 £16.2 million and net assets of £126.6 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 plc	Via FTI Consulting
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

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCGZMMGLZLGFZG