TIDMGNC

RNS Number : 2194T

Greencore Group PLC

16 July 2020

16 July 2020

Greencore Group plc

Financing Update

Greencore Group plc ("Greencore" or "the Group"), a leading manufacturer of convenience foods in the UK, confirms that, as referred to in the FY20 Interim Results Statement released on 19 May 2020, it has secured formal agreement with its Private Placement Note Holders to waive its Net Debt: EBITDA covenant condition for the September 2020 and March 2021 test periods.

For further information, please contact:

 
 
  Patrick Coveney    Chief Executive Officer     Tel: +353 (0) 1 486 
                                                 3313 
Emma Hynes         Chief Financial Officer     Tel: +353 (0) 1 486 
                                                3307 
Jack Gorman        Head of Investor Relations  Tel: +353 (0) 1 486 
                                                3308

About Greencore

Greencore is a leading manufacturer of convenience food in the UK. It supplies grocery and other retailers including all of the major UK supermarkets. The Group has strong market positions in a range of categories including sandwiches, salads, sushi, chilled snacking, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, and frozen Yorkshire Puddings.

The Group's medium term financial ambitions are for mid single-digit organic revenue growth, high single-digit Adjusted EPS growth, the conversion of half of its Adjusted EBITDA to Free Cash Flow and for mid-teen ROIC.

For further information go to www.greencore.com or follow Greencore on social media.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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July 16, 2020 04:35 ET (08:35 GMT)

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