21st Sep 2023 18:34
Logistics Development Group PLC - investment firm - Notes the recommended cash offer of 110 pence per share for Finsbury Food Group PLC from DBAY Advisors Ltd, via a vehicle set up for the purpose of the bid, Frisbee Bidco Ltd. Explains LDG holds around 9.0% of Finsbury's share capital. Given 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. Under the terms of the offer, if completed, LDG would receive 11.8 million shares in Frisbee Bidco Ltd. There is also a cash alternative for those investors who want to retain an economic interest in Finsbury Food. This will be in the form of non-voting B shares in acquisition vehicle Frisbee Bidco Ltd. Read More