Roebuck Food Group PLC Executive Director Bonus (9061R)
March 03 2023 - 12:45PM
UK Regulatory
TIDMRFG
RNS Number : 9061R
Roebuck Food Group PLC
03 March 2023
Roebuck Food Group plc ("the Company")
Executive Director Bonus
The Board of the Company has agreed to pay a bonus of GBP135,000
to Executive Deputy Chairman Aidan Hughes in recognition of
supplementary work undertaken by him for the Company in 2022 in
connection with the smooth handover of the Group's former cold
store business and resolution of outstanding liabilities in respect
of the sale of that business.
The sale of the cold store business was completed on 29 October
2021, with the consequential capital return of GBP49.916 million to
shareholders completed on 29 November 2021. Mr Hughes then worked
until 30 April 2022 with the purchaser to address practical
degrouping issues and resolution of certain liabilities of that
business, which were discharged in the first six months of 2022, as
referred to in the Company's interim results for the half-year
ended 30 June 2022 announced on 28 September 2022.
The bonus is separate and distinct from Mr Hughes' contractual
entitlement as executive director of the Company. Mr Hughes has a
service agreement with the Company providing for a 12 month notice
period at a basic salary of GBP115,000.
The directors of the Company (Mr Hughes excepted) consider,
having consulted with the Company's nominated adviser Davy, that
the terms of this bonus is fair and reasonable insofar as its
shareholders are concerned.
The directors of the Company accept responsibility for this
announcement.
Enquiries:
Roebuck Food Group plc
Gerard Murphy, Group Company Secretary
Telephone: + 44 28 3025 7760
Davy (Nomad)
Anthony Farrell
Telephone: + 353 1 679 6363
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