Company Announcement
Bakkavör Group's Board of Directors has resolved to increase share capital
The board of directors of Bakkavör Group has today resolved to increase share capital in the company by 80,269,613 shares pursuant to article 3 of the company's Articles of Association. Part of the acquisition price of Bakkavör Group's acquisition of Laurens Patisseries, which was announced on April 30, will be satisfied by the issue of the new shares. Shareholders do not have priority rights to the new share capital according to article 3 of the company's articles of association. The total number of shares in Bakkavör Group hf. after the increase is 2,133,909,016.
For further information, please contact:
Ágúst Gudmundsson
Executive Chairman
Bakkavör Group
Tel: +44 (0)20 8728 5100
Hildur Árnadóttir
Chief Finance Officer
Bakkavör Group
Tel: +354 550 9700
About Bakkavör Group
Bakkavör Group is a leading international food manufacturing company specialising in fresh prepared foods and produce. The Group operates 43 factories and employs over 16,000 people in seven countries with a pro-forma turnover over Ł1 billion sterling. The Group's Head Office is in Reykjavík, Iceland, and the business is listed on the Iceland Stock Exchange (www.icex.is Ticker: BAKK). In addition to the UK and Iceland, the Group also has business operations in France, Belgium, South Africa and China.
Bakkavör Group was founded in 1986 and celebrates its 20th Anniversary this year. During this time, the business has grown significantly and today Bakkavör Group the largest manufacturer of fresh prepared foods and produce in the UK.
The Group's vision is to be recognised and respected as the world's leading fresh prepared foods and produce provider. Bakkavör Group has attained leading market positions in its key market areas of ready meals, pizzas, convenience salads and leafy salads. In total, the Group makes over 4,700 products in 17 product categories, which are developed and sold under its customers' own brands.
For more information about Bakkavör Group, please visit the Group's website www.bakkavor.com
Disclaimer
This press release has been prepared for the professional investor. Bakkavör Group hf. (Bakkavör) has not taken into account any shareholder investment objectives, financial resources or other relevant circumstances. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments and, in international transactions, currency risk. Due care and attention has been used in the preparation of this forecast information. However, actual results may vary from their forecasts, and any variation may be materially positive or negative. Forecasts, by their very nature, are subject to uncertainty and contingencies, many of which are outside the control of Bakkavör.
Bakkavör cannot guarantee that the information contained herein is without fault or entirely accurate. The information in this material is based on sources that Bakkavör believes to be reliable. Bakkavör cannot however guarantee that all information is correct. Furthermore, information and opinions may change without notice. Bakkavör is under no obligation to make amendments or changes to this publication if errors are found or opinions or information change. Bakkavör accepts no responsibility for the accuracy of its sources.
Bakkavör is the owner of all works of authorship including, but not limited to, all design, text, sound recordings, images and trademarks in this material unless otherwise explicitly stated. The use of Bakkavör's material, work or trademarks is forbidden without written consent except were otherwise expressly stated. Furthermore, it is prohibited to publish material made or gathered by Bakkavör without written consent.
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