37 Finsbury Food Group Annual Report & Accounts 2018
Directors’ Report
Background
The Group is a speciality bakery group which is focused on premium, celebration and well-being products. These products are supplied both under the retailers’ own brands and through a number of licensed brands to which the Group has access.
A review of the activities and any likely future developments in the business of the Group is given in the Chairman’s Statement, Chief Executive’s Report and the Strategic Report on pages 1 to 28.
Dividend An interim dividend for the six months to 31 December 2017 of 1.1p per share was paid on 27 April 2018 to shareholders on the register at the close of business on 3 April 2018. Subject to shareholder approval at the Company’s AGM on 21 November 2018, the final dividend of 2.2p per share will be paid on 21 December 2018 to all shareholders on the register at 23 November 2018.
Directors and their Interests in the Company The Directors and brief biographies are detailed on pages 35 and 36.
In accordance with the Articles of Association, Peter Baker and John Duffy retire by rotation and being eligible offer themselves for re-election at the Company’s forthcoming AGM.
The beneficial interests of the Directors in the Ordinary Shares of the Company on 30 June 2018 and 1 July 2017 are set out below: Ordinary Shares
30 June 2018
P Baker S A Boyd J G Duffy M Millard Z Morgan
86,000
1,065,543 2,343,679 9,366
70,028
1 July 2017 86,000
1,011,455 2,269,238 9,366
70,028
Details of Directors’ share options are set out in Note 6 to the Financial Statements. There has been no change to the Directors’ share interests since 30 June 2018.
Details of the emoluments of the Directors are given in Note 6 to the Financial Statements.
Share Capital Details of the changes in the share capital of the Company during the year are set out in Note 23 to the Financial Statements.
Substantial Interests The following substantial interests (3 percent or more) in the Company’s issued share capital have been notified to the Company as at 31 August 2018: Number
of shares Ruffer LLP
Cannacord Genuity Wealth Management Investec Wealth & Investment Limited Miton Asset Management Limited Polar Capital LLP
FIL Investment International London Finance & Investment Group Plc
Research and Development Research and development (R&D) expenditure is expensed in the year in which it is incurred.
Directors and Officers’ Liability Insurance The Company maintains a Directors and Officers liability insurance policy.
21,290,536 12,137,609 10,850,851 10,622,108 9,893,610 6,281,932 6,000,000
% of issued share capital
16.33% 9.31% 8.32% 8.15% 7.59% 4.82% 4.60%
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100
