22nd Oct 2009 07:00
FINSBURY FOOD GROUP PLC
FURTHER ISSUE OF EQUITY CAPITAL AND GRANT OF SHARE OPTIONS
The Company announces that on 21st October 2009 it allotted to John Duffy, the recently appointed Group Chief Executive Officer as part of his remuneration package:
1. 201,039 new ordinary shares of 1p for no consideration: and
2. 1,038,961 new ordinary shares of 1p on payment of 19.25 pence per share.
The new ordinary shares will rank pari passu in all respects with the existing ordinary shares. Application has been made for the new ordinary shares to be admitted to trading on AIM and admission is expected to become effective on 27th October 2009.
The Board also on 21st October, 2009 granted to John Duffy options to subscribe for a total of 1,260,000 new ordinary shares of 1p each in the capital of the Company within the terms of the Finsbury Food Group Long Term Incentive Plan. Of those options 111,000 were granted in terms of the Approved part of the Plan with an exercise price of 27p per share and 1,149,000 options were granted in terms of the Unapproved part of the Plan with an exercise price of 20p per share. The proportion of the options that will vest depends on the growth in adjusted EBITDA over a three-year period. The earliest vesting date is 30th September, 2012.
Following the issue John Duffy will have a beneficial interest in 1,250,781 shares.
For more information, please contact:
Panmure Gordon 020 7459 3600Andrew PottsCallum StewartRedleaf CommunicationsEmma Kane 020 7566 6700Anna Dunkin
vendorRelated Shares:
FIF.L