Notice of Results and Update on Product Recall

11 September 2015

Produce Investments plc

Notice of Results and Update on Product Recall

Produce Investments plc (AIM: PIL), a leading operator in the fresh potato and daffodil sectors, provides the following update on the product recall announced on 13 May 2015 and confirms that it will announce its final results for the 52 weeks to 28 June 2015 on Thursday 8 October 2015 ("Final Results").

In its statement on 13 May 2015, the Company announced that one of its subsidiaries, Swancote Foods, had experienced a potential contamination issue relating to the possible identification of traces of metal being found in one of its products. The Company also stated that the potential financial impact of the recall was being analysed, but at that stage it was too early to quantify what any exceptional costs would be for the current financial year. Discussions between the Company, its affected customers and the insurers remain ongoing and are not expected to be resolved before the publication of the Final Results. Consequently the Company now expects to disclose a contingent liability within a range in the Final Results with the financial impact of the liability recognised in the following financial year once discussions have been concluded. The range of the contingent liability is still being assessed by the Company in conjunction with its advisers.

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