Premier Foods plc Response to media speculation statement (8397B)
January 15 2018 - 2:00AM
UK Regulatory
TIDMPFD TIDMIRSH
RNS Number : 8397B
Premier Foods plc
15 January 2018
15 January 2018
Premier Foods plc (the "Group")
Premier Foods plc notes weekend press speculation concerning a
possible sale of its Batchelors' brand to Nissin Foods Holdings Co.
Ltd ("Nissin").
The Board has made no changes to its strategy since the
strategic update communicated in our preliminary results
announcement on 16 May 2017. The Board remains focussed on our
strategic objectives, including that of reducing the ratio of net
debt to EBITDA below three times.
On 29 June 2017 the company confirmed that, in line with good
corporate governance, it regularly reviews options to deliver value
for all its stakeholders. Such reviews do periodically involve
discussions with third parties, including Nissin (with whom the
company signed a Co-operation Agreement on 23 March 2016). There is
no current situation where discussions have gone beyond an
exploratory stage.
As a matter of normal good governance, the Board continues to
keep under review any options which could potentially add value for
shareholders and other stakeholders, and accelerate the delivery of
the Board's strategic objectives, particularly with respect to
reducing gearing.
Ends
For further information, please contact:
Investors and analysts:
Alastair Murray, Chief
Financial Officer +44 (0) 1727 815 850
Richard Godden, Director
of Investor Relations +44 (0) 1727 815 850
Media:
Maitland
Sundeep Tucker +44 (0) 20 7379 5151
Joanna Davidson +44 (0) 20 7379 5151
This information is provided by RNS
The company news service from the London Stock Exchange
END
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