Premier Foods PLC

Regulatory Filings • Apr 6, 2016

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RNS Number : 4056U

Premier Foods plc

06 April 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY (IN WHOLE OR IN PART), IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A TAKEOVER OFFER OR AN OFFER OF SECURITIES.

6 April 2016

For immediate release

Premier Foods plc

Premier Foods plc issues update ahead of shareholder discussions

The Board of Premier Foods plc ("Premier" or "the Company") is today providing an update following its announcement last week regarding the revised proposed offer by McCormick & Company, Inc. ("McCormick") for the Company at an indicative price of 65 pence in cash per Premier share.

Over the next few days, Premier is scheduled to meet its main institutional investors to provide them with further insight into the business, including the value creation potential of the Company's new strategic initiatives, and to engage with them more generally.  A copy of the presentation that will be used in these meetings has been posted to our corporate website: www.premierfoods.co.uk

Premier's senior management has made detailed presentations to McCormick's senior team regarding Premier's business and, in particular, the value creation potential of the new strategic initiatives outlined in Premier's announcement of 23 March.  Premier and its advisers have also had detailed discussions with McCormick and its advisers regarding Premier's pension plans.

The discussions between McCormick, Premier and their respective advisers have been constructive.

In accordance with Note 3 to Rule 2.5 of the Takeover Code, this announcement is being made by Premier without the prior agreement or approval of McCormick.  There can be no certainty that any offer will be made nor the terms on which any such offer might be made.

For further information please contact:

Premier Foods plc                                                                                                 +44 1727 815 850

Richard Johnson (Corporate Affairs Director)

Richard Godden (Head of Investor Relations)

Maitland                                                                                                                 +44 207 379 5151

Neil Bennett

Kate O'Neill

Ondra Partners (Joint Lead and Financial Adviser to Premier)                    +44 207 082 8750

Robert Hingley

Jason Meers

Michael Tory

HSBC Bank plc (Joint Lead and Financial Adviser to Premier)                      +44 20 7991 8888

Charles Packshaw

Keith Welch

Alex Thomas

Jefferies International Limited                                                                             +44 20 7029 8000

(Joint Co-Financial Adviser and Corporate Broker to Premier)

Paul Nicholls

David Watkins

Credit Suisse International                                                                                    +44 20 7888 8888

(Joint Co-Financial Adviser and Corporate Broker to Premier)

Stuart Field

Ben Deary

This information is provided by RNS

The company news service from the London Stock Exchange

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