Premier Foods plc Board Appointment (1207Y)
March 01 2017 - 2:01AM
UK Regulatory
TIDMPFD TIDMIRSH
RNS Number : 1207Y
Premier Foods plc
01 March 2017
Premier Foods plc
("Premier Foods" the "Company")
1 March 2017
Board Appointment
Premier Foods plc is pleased to announce the appointment of
Daniel Wosner as a Non-Executive Director of the Company from 1(st)
March 2017. Daniel is Managing Director and Head of Europe at Oasis
Management Company Limited ("Oasis"), an international investment
firm and the Company's second largest shareholder. Before joining
Oasis in 2016, Daniel held senior investment banking roles at
Barclays and Lehman Brothers.
David Beever, Chairman of Premier Foods, said:
"We are pleased to welcome Daniel Wosner of Oasis to the board
as a non-executive director and look forward to working with him to
drive the Company's long-term value and enhance value for all
shareholders. Daniel's perspective and experience will be a
valuable addition to the team as we continue our effort to maximise
the potential of our category leading brands, strong customer
partnerships and supply chain expertise."
Daniel Wosner added:
"We appreciate the constructive engagement that we have had with
Premier Foods Chairman David Beever and the Executive Leadership
Team, and I welcome the opportunity to join the Board. I look
forward to working with Chief Executive Officer Gavin Darby, and
his colleagues to achieve the full potential and value from the
Company's outstanding brand portfolio."
Seth Fischer, Chief Investment Officer & Founder of Oasis,
commented:
"We have followed Premier Foods for several years and are
optimistic about the long-term prospects of the Company. As
significant investors, we are fully committed to building long-term
value for all shareholders."
Accordingly, the Company and Oasis have today entered into a
customary relationship agreement, a summary of the terms is
available on the Company's website. Some of the key terms are set
out below.
-- Daniel will be appointed to the Remuneration Committee of the Board
-- Oasis will acquire in aggregate 10% of the ordinary share
capital of the Company by 30(th) June 2018
-- The relationship agreement with Oasis and Daniel's tenure as
a Non-Executive Director will continue until the day following the
2019 AGM, unless extended
-- For the term of the relationship agreement, Oasis is to hold
a minimum of 7% and a maximum of 15% shareholding in the
Company
No further information is required to be disclosed pursuant to
LR 9.6.13 R.
For further information please contact:
Alastair Murray, Chief Financial
Officer
Andrew McDonald, General Counsel
& Company Secretary +44 (0) 1727 815850
Richard Godden, Head of Investor +44 (0) 1727 815850
Relations +44 (0) 1727 815850
Maitland
Kate O'Neill +44 (0) 20 7379
Tom Eckersley 5151
Notes to editors:
A summary of terms of the relationship agreement can be found on
the Company's website:
http://www.premierfoods.co.uk/investors/shareholder-centre
About Oasis Management
Oasis Management Company Ltd. manages private investment funds
focused on opportunities in a wide array of asset classes across
countries and sectors. Oasis was founded in 2002 by Seth Fischer,
who leads the firm as its Chief Investment Officer. More
information available at https://oasiscm.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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