Nissin Foods: Acquires 17.3% of Premier Foods Shares

Tokyo / JP. (nfh) Nissin Foods Holdings Company Limited with President and Representative Director and CEO Koki Ando is pleased to announce that, in relation to the business partnership with Premier Foods PLC as announced in the press release «Announcement of Co-operation Agreement on Business Partnership with a Leading UK Food Company», the Company has agreed to make an acquisition of shares in Premier Foods from WP X Investments Limited, a major shareholder of Premier Foods as below.

Followed by the acquisition of the shares, the Company is continuously discussing with Premier Foods entering into a Conditional Relationship Agreement governing the relationship of the two companies which provides, among other things, appointment by the company of a non-executive director. Nissin estimates that the effect of the acquisition on the Company’s current consolidated results will be insignificant.

Outline of the Acquisition

• Number of shares to be acquired: 142’760’090 shares (The relevant acquisition price was agreed to be 0.63 GBP per share, Premier Foods said in another news release).
• Percentage of shares to be acquired: 17.3 percent. Total number of issued shares is 825’741’256 as of April 04, 2015.

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Nissin Foods Holdings: Announces Co-operation Agreement on Business Partnership with British Premier Foods

Tokyo / JP. (03.23. / lsg) Nissin Foods Holdings Company Limited with President and Representative Director and CEO Koki Ando is pleased to announce that the Company has reached a conditional Co-operation Agreement with Premier Foods PLC, a leading British food company, on utilisation by both parties of their respective distribution networks, joint development of products, cooperation in research and development, manufacture by one party of the other party’s products and others.

The Company is considering, acquiring a certain percentage of Premier Foods shares, and if successful will seek to enter into an agreement governing the relationship of the two companies which provides, among other things, appointment by us of an non-executive director. The Company will analyse as to whether it will acquire any Premier Foods shares and will announce that once any decision is made in this connection.

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Related news: please see «Premier Foods rejects approach from McCormick and announces co-operation agreement with Nissin Foods» (in bakenet:eu dated on 2016-03-24) and other statements on premierfoods.co.uk.