Bakkavör Group has informed the Board of Greencore Group PLC that it has relinquished its 10.9% economic interest under a CFD (Contract for Difference) in 22,028,795 ordinary shares in Greencore at a price of EUR 1.30 per ordinary share. Ágúst Gudmundsson, CEO of Bakkavör Group: “As a direct result of the turmoil and fluctuations in the global financial markets, it is with regret that the funding source for the CFD was withdrawn, making it necessary for the Group to relinquish its economic interest in Greencore. The funding of the CFD was outside the Group's normal banking arrangements and its withdrawal is in no way a reflection of the financial standing of the Group. Bakkavör is a cash generative business with strong fundamentals and remains totally committed to the fresh prepared foods sector in the UK and internationally. Our business philosophy remains unchanged.” Bakkavör Group's third quarter results will be published 30 October. Bakkavör Group is bound by the Regulations of NASDAQ OMX Nordic Exchange in Iceland and the Irish Stock Exchange, where Greencore Group has its primary Listing. Contact information: Group Investor Relations: Snorri Gudmundsson Bakkavör Group Tel: +354 550 9710 or +354 858 9710 snorri@bakkavor.com UK & International Financial Press Enquiries: Fiona Tooley, Citigate Dewe Rogerson Tel: +44 (0) 121 455 8370 or +44 (0) 7785 703523 fiona.tooley@citigatedr.co.uk About Bakkavör Group www.bakkavor.com Bakkavör Group is a leading international food manufacturing company specialising in fresh prepared foods and produce. The Group operates 66 factories and employs around 20,000 people in 10 countries. The Group's Head Office is in Reykjavík, Iceland, and the business is listed on the OMX Nordic Exchange in Iceland. (Ticker: BAKK). 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. In total, the Group makes over 6,000 products in 18 product categories, which are developed and sold predominantly under its customers' own brands. In addition to the UK and Iceland, the Group also has business operations in France, Belgium,Italy, Spain, South Africa, China, the Czech Republic and the United States. To subscribe to Bakkavör Group's mailing list, please mail to: investor.relations@bakkavor.com
Bakkavör Group relinquishes its economic interest in Greencore Group under a CFD
| Source: Bakkavör Group hf.