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in the Category: Default.

Greenyard announces start of share buyback

Sint-Katelijne-Waver, Belgium, March 14, 2017 - Greenyard (Euronext Brussels: GREEN) announces start of share buy back


Greenyard announces today the start of a share buyback program representing a repurchase of up to 1.750.000 shares. This represents a total value of € 28,6 million based on today’s closing price.
In December 2016, Greenyard embarked on a significant refinancing with, amongst others, a Convertible Bond, creating at least € 15 million annual interest cost savings. The company now announces a share buyback which can be used to mitigate the potential dilution from this Convertible Bond,  to create a pool of own shares for financing potential future acquisitions and/or possible future long term incentive plans. The share buyback program is expected not to materially impact the company’s leverage.
The Board of Directors of Greenyard has granted a discretionary mandate to an intermediary who will execute this both on or outside the regulated market during open and closed periods. Block trades can be considered as well during open periods. The mandate is valid for 1 year.
As set out in Greenyard’s articles of association, the General Shareholders’ Meeting of 19 September 2014 has granted a power of attorney to the Board of Directors to approve share buybacks up to the legal maximum of 20%.
During the course of the program, Greenyard will provide regular updates to the market about its share repurchases and in line with the applicable regulations via press releases.
This share buyback programme can be ceased at any time.

 

Financial calendar
- FY results       June 6, 2017 (after market)
- Q1 trading update      August 29, 2017 (after market)
- AGM         September 15, 2017
- H1 results        November 21, 2017 (after market)


For additional information, please contact Greenyard:
Marleen Vaesen, CEO
T +32 15 32 42 97
marleen.vaesen@greenyard.group

Carl Peeters, CFO
T +32 15 32 42 69
carl.peeters@greenyard.group

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Sint-Katelijne-Waver, Belgium, March 3, 2017 - Greenyard (Euronext Brussels: GREEN) announces increase in shareholding of Deprez Family

In accordance with article 14 of the Belgian Law of 2 May 2007 on the disclosure of significant shareholdings in listed companies, Greenyard announces the receipt of a transparency declaration on March 3, 2017.
Deprez Holding NV has exercised its call option to acquire 642,441 shares of Groupe d’Aucy (previously named Centrale Coopérative Agricole Bretonne - “CECAB”).


Following this transaction, which took place on March 1, 2017, Deprez Holding NV’s stake in Greenyard increased from 29,09% to 30,54%, hereby surpassing the 30% threshold, whereas Groupe d’Aucy’s stake is reduced from 1,45% to 0,00%.


As a result of this transaction the Deprez family, through Deprez Holding NV and Food Invest International NV increases its participation in Greenyard from 43,8% to 45,3%.

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Trading update Q3 2016/2017

• In Q3, sales came in at € 996,9m,  an increase of 6,3% YoY.  Internal growth reached almost 5%.  FX impacted sales negatively by 1,6% mainly due to the drop of the GBP. The acquisition of Lutèce added 3,0% to top line.
• Segment performance in Q3: 
o Fresh realised a 4,7% rise in sales.
o Long Fresh is influenced by the acquisition of Lutèce (+16.1%). Excluding this effect and the FX impact of -3,3%, mainly caused by the GBP, internal growth was slightly positive.
o Horticulture grew by almost 5%.
• YTD sales reached € 3.143,0m, an increase of almost 8%.

 

 

Financial calendar
- FY results       June 6, 2017 (after market)
- Q1 trading update      August 29, 2017 (after market)
- AGM         September 15, 2017
- H1 results        November 21, 2017 (after market)
For additional information, please contact Greenyard:
Marleen Vaesen, CEO
T +32 15 32 42 97
marleen.vaesen@greenyard.group

Carl Peeters, CFO
T +32 15 32 42 69
carl.peeters@greenyard.group


About Greenyard
Greenyard (Euronext Brussels: GREEN) is a global market leader of fresh, frozen and prepared fruit & vegetables, flowers, plants and growing media. Counting Europe’s leading retailers amongst its customer base, the group provides efficient and sustainable solutions to customers and suppliers through best-in-class products, market leading innovation, operational excellence and outstanding service.
Our vision is to make lives healthier by helping people enjoy fruit & vegetables at any moment, easy, fast and pleasurable, whilst fostering nature.   
With some 8,200 employees operating in 25 countries worldwide, Greenyard identifies its people and key customer and supplier relationships as the key assets which enable it to deliver goods and services worth almost 4 billion per annum.
www.greenyard.group

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Greenyard confirms the conversion price of the EUR
125 million senior, unsecured, guaranteed, convertible
bonds due 2021


Sint-Katelijne-Waver, Belgium, 8 December 2016


Earlier today, Greenyard NV has announced the successful placement by FieldLink NV, a whollyowned
subsidiary of Greenyard, of the issue of senior, unsecured, guaranteed, convertible
bonds, guaranteed by Greenyard and convertible into newly issued ordinary shares of Greenyard
due 2021.
The conversion price of the convertible bonds has been set at EUR 17.43, representing a
premium of 25% of the volume weighted average price of Greenyard’s shares on Euronext
Brussels between opening and closing of the market today.
For more information on the convertible bonds, reference is made to the press releases that
were issued earlier today.
BNP Paribas Fortis and Berenberg are acting as joint global coordinators and joint bookrunners.
Daiwa Capital Markets, Degroof Petercam and KBC Bank are acting as joint bookrunners.
For additional information, please contact:
Marleen Vaesen, CEO
T +32 15 32 42 97
marleen.vaesen@greenyardfoods.com
Carl Peeters, CFO
T +32 15 32 42 69
carl.peeters@greenyardfoods.com
Disclaimer
This press release may contain forward-looking statements. Such statements reflect the current
views of management regarding future events, and involve known and unknown risks,
uncertainties and other factors that may cause actual results to be materially different from any
future results, performance or achievements expressed or implied by such forward-looking
statements. Greenyard is providing the information in this press release as of this date and does
not undertake any obligation to update any forward-looking statements contained in this press
release in light of new information, future events or otherwise. Greenyard disclaims any liability
for statements made or published by third parties and does not undertake any obligation to
correct inaccurate data, information, conclusions or opinions published by third parties in relation
to this or any other press release issued by Greenyard.
08/12/2016 2 / 3
REGULATED INFORMATION
About Greenyard
Greenyard (Euronext Brussels: GREEN) is a global market leader of fresh, frozen and prepared fruit
& vegetables, flowers, plants and growing media. Counting Europe’s leading retailers amongst its
customer base, the group provides efficient and sustainable solutions to customers and suppliers
through best-in-class products, market leading innovation, operational excellence and outstanding
service.
Our vision is to make lives healthier by helping people enjoy fruit & vegetables at any moment,
easy, fast and pleasurable, whilst fostering nature.
With some 8,200 employees operating in 25 countries worldwide, Greenyard identifies its people
and key customer and supplier relationships as the key assets which enable it to deliver goods and
services worth almost EUR 4 billion per annum.
www.greenyard.group
IMPORTANT INFORMATION
NO ACTION HAS BEEN TAKEN BY GREENYARD OR FIELDLINK, OR BNP PARIBAS FORTIS, BERENBERG, DAIWA CAPITAL MARKETS,
DEGROOF PETERCAM AND KBC BANK (TOGETHER, THE “MANAGERS”) OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD
PERMIT AN OFFERING OF THE CONVERTIBLE BONDS OR POSSESSION OR DISTRIBUTION OF THIS PRESS RELEASE OR ANY OFFERING
OR PUBLICITY MATERIAL RELATING TO THE CONVERTIBLE BONDS IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS
REQUIRED. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY GREENYARD, FIELDINK AND THE
MANAGERS TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH RESTRICTIONS.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA OR FOR
THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN THE SECURITIES ACT), AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA
OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE PROHIBITED BY APPLICABLE LAW. THIS PRESS RELEASE IS NOT AN
OFFER TO SELL SECURITIES OR THE SOLICITATION OF ANY OFFER TO BUY SECURITIES, NOR SHALL THERE BE ANY OFFER OF
SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER OR SALE WOULD BE UNLAWFUL.
THIS PRESS RELEASE AND THE OFFERING OF THE CONVERTIBLE BONDS WHEN MADE ARE ONLY ADDRESSED TO, AND DIRECTED IN
MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (THE “EEA”) AT PERSONS WHO ARE “QUALIFIED INVESTORS” WITHIN THE
MEANING OF ARTICLE 2(1)(E) OF THE PROSPECTUS DIRECTIVE (“QUALIFIED INVESTORS”). FOR THESE PURPOSES, THE EXPRESSION
"PROSPECTUS DIRECTIVE" MEANS DIRECTIVE 2003/71/EC, AS AMENDED.
THIS PRESS RELEASE AND THE OFFERING OF THE CONVERTIBLE BONDS ARE NOT ADDRESSED TO RETAIL INVESTORS AND,
ACCORDINGLY, THIS PRESS RELEASE IS NOT BEING DISTRIBUTED TO RETAIL INVESTORS. FOR THESE PURPOSES, “RETAIL INVESTOR”
MEANS (I) A RETAIL CLIENT AS DEFINED IN POINT (11) OF ARTICLE 4(1) OF DIRECTIVE 2014/65/EU OR (II) A CUSTOMER WITHIN THE
MEANING OF DIRECTIVE 2002/92/EC, WHERE THAT CUSTOMER WOULD NOT QUALIFY AS A PROFESSIONAL CLIENT AS DEFINED IN
POINT (10) OF ARTICLES 4(1) OF DIRECTIVE 2014/65/EU. EACH PERSON WHO INITIALLY ACQUIRES ANY CONVERTIBLE BONDS OR TO
WHOM ANY OFFER OF CONVERTIBLE BONDS MAY BE MADE WILL BE DEEMED TO HAVE REPRESENTED, ACKNOWLEDGED AND
AGREED THAT IT IS NOT A RETAIL INVESTOR.
IN ADDITION, IN THE UNITED KINGDOM THIS PRESS RELEASE IS BEING DISTRIBUTED ONLY TO, AND IS DIRECTED ONLY AT,
QUALIFIED INVESTORS (I) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN
ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE
“ORDER”) AND QUALIFIED INVESTORS FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER, AND (II) TO WHOM IT MAY
OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THIS
PRESS RELEASE MUST NOT BE ACTED ON OR RELIED ON (I) IN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT RELEVANT
PERSONS, AND (II) IN ANY MEMBER STATE OF THE EEA OTHER THAN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT
QUALIFIED INVESTORS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS PRESS RELEASE RELATES IS AVAILABLE ONLY
TO (A) RELEVANT PERSONS IN THE UNITED KINGDOM AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS IN THE UNITED
KINGDOM AND (B) QUALIFIED INVESTORS IN MEMBER STATES OF THE EEA (OTHER THAN THE UNITED KINGDOM).
THIS DOCUMENT AND THE OFFERING OF THE CONVERTIBLE BONDS WHEN MADE ARE ONLY ADDRESSED TO, AND DIRECTED IN,
SOUTH AFRICA AT PERSONS WHO FALL WITHIN ONE OF THE CATEGORIES SET OUT IN SECTION 96(1)(A) OF THE SOUTH AFRICAN
COMPANIES ACT, 2008, AS AMENDED (“EXEMPT INVESTORS”). EACH PERSON IN SOUTH AFRICA WHO INITIALLY ACQUIRES ANY
BONDS OR TO WHOM ANY OFFER OF BONDS MAY BE MADE AND, TO THE EXTENT APPLICABLE, ANY FUNDS ON BEHALF OF WHICH
SUCH PERSON IS ACQUIRING THE BONDS THAT ARE LOCATED IN SOUTH AFRICA WILL BE DEEMED TO HAVE REPRESENTED,
ACKNOWLEDGED AND AGREED THAT IT IS A EXEMPT INVESTOR.
08/12/2016 3 / 3
REGULATED INFORMATION
ANY DECISION TO PURCHASE ANY OF THE CONVERTIBLE BONDS SHOULD ONLY BE MADE ON THE BASIS OF AN INDEPENDENT
REVIEW BY A PROSPECTIVE INVESTOR OF GREENYARD’S AND FIELDLINK’S PUBLICLY AVAILABLE INFORMATION. NEITHER THE
MANAGERS NOR ANY OF THEIR RESPECTIVE AFFILIATES ACCEPT ANY LIABILITY ARISING FROM THE USE OF, OR MAKE ANY
REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF, THIS PRESS RELEASE OR GREENYARD’S OR FIELDLINK’S PUBLICLY
AVAILABLE INFORMATION. THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO CHANGE IN ITS ENTIRETY
WITHOUT NOTICE UP TO THE CLOSING DATE.
EACH PROSPECTIVE INVESTOR SHOULD PROCEED ON THE ASSUMPTION THAT IT MUST BEAR THE ECONOMIC RISK OF AN
INVESTMENT IN THE CONVERTIBLE BONDS OR THE ORDINARY SHARES TO BE ISSUED OR TRANSFERRED AND DELIVERED UPON
CONVERSION OF THE CONVERTIBLE BONDS AND NOTIONALLY UNDERLYING THE CONVERTIBLE BONDS (TOGETHER WITH THE
CONVERTIBLE BONDS, THE “SECURITIES”). NONE OF GREENYARD, FIELDLINK OR THE MANAGERS MAKE ANY REPRESENTATION AS
TO (I) THE SUITABILITY OF THE SECURITIES FOR ANY PARTICULAR INVESTOR, (II) THE APPROPRIATE ACCOUNTING TREATMENT AND
POTENTIAL TAX CONSEQUENCES OF INVESTING IN THE SECURITIES OR (III) THE FUTURE PERFORMANCE OF THE SECURITIES EITHER
IN ABSOLUTE TERMS OR RELATIVE TO COMPETING INVESTMENTS.
THE MANAGERS ARE ACTING ON BEHALF OF GREENYARD AND FIELDLINK AND NO ONE ELSE IN CONNECTION WITH THE
CONVERTIBLE BONDS AND WILL NOT BE RESPONSIBLE TO ANY OTHER PERSON FOR PROVIDING THE PROTECTIONS AFFORDED TO
CLIENTS OF THE MANAGERS OR FOR PROVIDING ADVICE IN RELATION TO THE SECURITIES.
EACH OF GREENYARD, FIELDLINK, THE MANAGERS AND THEIR RESPECTIVE AFFILIATES EXPRESSLY DISCLAIMS ANY OBLIGATION OR
UNDERTAKING TO UPDATE, REVIEW OR REVISE ANY STATEMENT CONTAINED IN THIS PRESS RELEASE WHETHER AS A RESULT OF
NEW INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE.

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Greenyard announces the successful placement of EUR 125 million senior, unsecured, guaranteed, convertible bonds due 2021

Sint-Katelijne-Waver, Belgium, 8 December 2016
Greenyard NV announces today the successful placement by FieldLink NV, a wholly-owned subsidiary of Greenyard, of the issue of senior, unsecured, guaranteed, convertible bonds, guaranteed by Greenyard and convertible into newly issued ordinary shares of Greenyard, due 2021. Greenyard has decided to make use of its increase option of up to EUR 15 million, bringing the total principal amount of the convertible bonds to EUR 125 million.
10.8% of the convertible bonds has been allocated to Deprez Holding NV, a company controlled by the Deprez family, Greenyard’s controlling shareholder owning 43.8% of the shares as at the date hereof.
The convertible bonds will be issued in denominations of EUR 100,000 in principal amount at 100% of their principal amount and will have a coupon of 3.75% per annum, payable semi-annually in arrear on 22 June and 22 December each year, with the first interest payment date being 22 June 2017.
The conversion price will be set at a premium of 25% of the volume weighted average price of Greenyard’s shares on Euronext Brussels between opening and closing of the market today.  The exact conversion price will be confirmed in a separate press release after closing of the market today.
Settlement of the issue of the convertible bonds is expected to take place on or around 22 December 2016. Admission to trading of the convertible bonds on the Open Market (Freiverkehr) segment of the Frankfurt Stock Exchange will be sought within 60 days following the settlement date.
Marleen Vaesen, CEO of Greenyard, comments on the refinancing :
“We are very pleased with the success of our convertible bond placement which was announced this morning. The refinancing of Greenyard significantly improves our cash generation and is a milestone in our route  to generate profitable growth. We will continue to focus on our strategic priorities to create value for all stakeholders. We are confident that we have the right strategies and priorities in place to create a strong global leader in fruit and vegetables in all its forms.”
The convertible bond offering was effected through an accelerated bookbuilding procedure. The convertible bonds were offered solely to institutional investors, outside the United States of America (in accordance with Regulation S under the U.S. Securities Act of 1933, as amended) and outside Canada, Australia, South Africa (except to investors who fall within one of the categories set out in section 96(1)(a) of the South African Companies Act, 2008, as amended) and Japan.
BNP Paribas Fortis and Berenberg are acting as joint global coordinators and joint bookrunners. Daiwa Capital Markets, Degroof Petercam and KBC Bank are acting as joint bookrunners.
For more information on the convertible bonds, reference is made to the press release that was issued this morning.

For additional information, please contact :
Marleen Vaesen, CEO
T +32 15 32 42 97
marleen.vaesen@greenyardfoods.com

Carl Peeters, CFO
T +32 15 32 42 69
carl.peeters@greenyardfoods.com

Disclaimer
This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Greenyard is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release in light of new information, future events or otherwise. Greenyard disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by Greenyard.

About Greenyard
Greenyard (Euronext Brussels: GREEN) is a global market leader of fresh, frozen and prepared fruit & vegetables, flowers, plants and growing media. Counting Europe’s leading retailers amongst its customer base, the group provides efficient and sustainable solutions to customers and suppliers through best-in-class products, market leading innovation, operational excellence and outstanding service.
Our vision is to make lives healthier by helping people enjoy fruit & vegetables at any moment, easy, fast and pleasurable, whilst fostering nature.   
With some 8,200 employees operating in 25 countries worldwide, Greenyard identifies its people and key customer and supplier relationships as the key assets which enable it to deliver goods and services worth almost EUR 4 billion per annum.
www.greenyard.group
IMPORTANT INFORMATION
NO ACTION HAS BEEN TAKEN BY GREENYARD OR FIELDLINK, OR BNP PARIBAS FORTIS, BERENBERG, DAIWA CAPITAL MARKETS, DEGROOF PETERCAM AND KBC BANK (TOGETHER, THE “MANAGERS”) OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD PERMIT AN OFFERING OF THE CONVERTIBLE BONDS OR POSSESSION OR DISTRIBUTION OF THIS PRESS RELEASE OR ANY OFFERING OR PUBLICITY MATERIAL RELATING TO THE CONVERTIBLE BONDS IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY GREENYARD, FIELDINK AND THE MANAGERS TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH RESTRICTIONS.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN THE SECURITIES ACT), AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE PROHIBITED BY APPLICABLE LAW. THIS PRESS RELEASE IS NOT AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF ANY OFFER TO BUY SECURITIES, NOR SHALL THERE BE ANY OFFER OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER OR SALE WOULD BE UNLAWFUL.
THIS PRESS RELEASE AND THE OFFERING OF THE CONVERTIBLE BONDS WHEN MADE ARE ONLY ADDRESSED TO, AND DIRECTED IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (THE “EEA”) AT PERSONS WHO ARE “QUALIFIED INVESTORS” WITHIN THE MEANING OF ARTICLE 2(1)(E) OF THE PROSPECTUS DIRECTIVE (“QUALIFIED INVESTORS”). FOR THESE PURPOSES, THE EXPRESSION "PROSPECTUS DIRECTIVE" MEANS DIRECTIVE 2003/71/EC, AS AMENDED.
THIS PRESS RELEASE AND THE OFFERING OF THE CONVERTIBLE BONDS ARE NOT ADDRESSED TO RETAIL INVESTORS AND, ACCORDINGLY, THIS PRESS RELEASE IS NOT BEING DISTRIBUTED TO RETAIL INVESTORS. FOR THESE PURPOSES, “RETAIL INVESTOR” MEANS (I) A RETAIL CLIENT AS DEFINED IN POINT (11) OF ARTICLE 4(1) OF DIRECTIVE 2014/65/EU OR (II) A CUSTOMER WITHIN THE MEANING OF DIRECTIVE 2002/92/EC, WHERE THAT CUSTOMER WOULD NOT QUALIFY AS A PROFESSIONAL CLIENT AS DEFINED IN POINT (10) OF ARTICLES 4(1) OF DIRECTIVE 2014/65/EU. EACH PERSON WHO INITIALLY ACQUIRES ANY CONVERTIBLE BONDS OR TO WHOM ANY OFFER OF CONVERTIBLE BONDS MAY BE MADE WILL BE DEEMED TO HAVE REPRESENTED, ACKNOWLEDGED AND AGREED THAT IT IS NOT A RETAIL INVESTOR.
IN ADDITION, IN THE UNITED KINGDOM THIS PRESS RELEASE IS BEING DISTRIBUTED ONLY TO, AND IS DIRECTED ONLY AT, QUALIFIED INVESTORS (I) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE “ORDER”) AND QUALIFIED INVESTORS FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER, AND (II) TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THIS PRESS RELEASE MUST NOT BE ACTED ON OR RELIED ON (I) IN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT RELEVANT PERSONS, AND (II) IN ANY MEMBER STATE OF THE EEA OTHER THAN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT QUALIFIED INVESTORS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS PRESS RELEASE RELATES IS AVAILABLE ONLY TO (A) RELEVANT PERSONS IN THE UNITED KINGDOM AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS IN THE UNITED KINGDOM AND (B) QUALIFIED INVESTORS IN MEMBER STATES OF THE EEA (OTHER THAN THE UNITED KINGDOM).
THIS DOCUMENT AND THE OFFERING OF THE CONVERTIBLE BONDS WHEN MADE ARE ONLY ADDRESSED TO, AND DIRECTED IN, SOUTH AFRICA AT PERSONS WHO FALL WITHIN ONE OF THE CATEGORIES SET OUT IN SECTION 96(1)(A) OF THE SOUTH AFRICAN COMPANIES ACT, 2008, AS AMENDED (“EXEMPT INVESTORS”). EACH PERSON IN SOUTH AFRICA WHO INITIALLY ACQUIRES ANY BONDS OR TO WHOM ANY OFFER OF BONDS MAY BE MADE AND, TO THE EXTENT APPLICABLE, ANY FUNDS ON BEHALF OF WHICH SUCH PERSON IS ACQUIRING THE BONDS THAT ARE LOCATED IN SOUTH AFRICA WILL BE DEEMED TO HAVE REPRESENTED, ACKNOWLEDGED AND AGREED THAT IT IS A EXEMPT INVESTOR.
ANY DECISION TO PURCHASE ANY OF THE CONVERTIBLE BONDS SHOULD ONLY BE MADE ON THE BASIS OF AN INDEPENDENT REVIEW BY A PROSPECTIVE INVESTOR OF GREENYARD’S AND FIELDLINK’S PUBLICLY AVAILABLE INFORMATION. NEITHER THE MANAGERS NOR ANY OF THEIR RESPECTIVE AFFILIATES ACCEPT ANY LIABILITY ARISING FROM THE USE OF, OR MAKE ANY REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF, THIS PRESS RELEASE OR GREENYARD’S OR FIELDLINK’S PUBLICLY AVAILABLE INFORMATION. THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO CHANGE IN ITS ENTIRETY WITHOUT NOTICE UP TO THE CLOSING DATE.
EACH PROSPECTIVE INVESTOR SHOULD PROCEED ON THE ASSUMPTION THAT IT MUST BEAR THE ECONOMIC RISK OF AN INVESTMENT IN THE CONVERTIBLE BONDS OR THE ORDINARY SHARES TO BE ISSUED OR TRANSFERRED AND DELIVERED UPON CONVERSION OF THE CONVERTIBLE BONDS AND NOTIONALLY UNDERLYING THE CONVERTIBLE BONDS (TOGETHER WITH THE CONVERTIBLE BONDS, THE “SECURITIES”). NONE OF GREENYARD, FIELDLINK OR THE MANAGERS MAKE ANY REPRESENTATION AS TO (I) THE SUITABILITY OF THE SECURITIES FOR ANY PARTICULAR INVESTOR, (II) THE APPROPRIATE ACCOUNTING TREATMENT AND POTENTIAL TAX CONSEQUENCES OF INVESTING IN THE SECURITIES OR (III) THE FUTURE PERFORMANCE OF THE SECURITIES EITHER IN ABSOLUTE TERMS OR RELATIVE TO COMPETING INVESTMENTS.
THE MANAGERS ARE ACTING ON BEHALF OF GREENYARD AND FIELDLINK AND NO ONE ELSE IN CONNECTION WITH THE CONVERTIBLE BONDS AND WILL NOT BE RESPONSIBLE TO ANY OTHER PERSON FOR PROVIDING THE PROTECTIONS AFFORDED TO CLIENTS OF THE MANAGERS OR FOR PROVIDING ADVICE IN RELATION TO THE SECURITIES.
EACH OF GREENYARD, FIELDLINK, THE MANAGERS AND THEIR RESPECTIVE AFFILIATES EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO UPDATE, REVIEW OR REVISE ANY STATEMENT CONTAINED IN THIS PRESS RELEASE WHETHER AS A RESULT OF NEW INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE.

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Greenyard launches the offering of a convertible bondfor an amount of up to EUR 125 million, as part of a

wider refinancing plan


Sint-Katelijne-Waver, Belgium, 8 December 2016


Greenyard NV announces today the launch of an offering of convertible bonds, for a principal
amount of EUR 110 million, with an increase option of up to EUR 15 million, which Greenyard
may decide to exercise at the time of pricing.
The offering of the convertible bonds is part of a wider refinancing exercise, which also consists
of a EUR 150 million term loan facility and a EUR 225 million multicurrency revolving facility that
Greenyard is negotiating with a group of domestic and international banks.
It is intended that the proceeds of the convertible bond offering and the new credit facilities will
be used to refinance the following current external debt of the Group:
(i) the EUR 285 million 7.875% senior secured notes issued by Univeg Holding B.V., due 2020;
(ii) the EUR 158,5 million term and revolving facilities agreement dated 16 December 2013
entered into by, amongst others, Greenyard as borrower;
(iii) the EUR 90 million senior facility agreement dated 14 November 2013 entered into by,
amongst others, FieldLink as parent and Univeg Holding B.V. and Univeg Belgium NV as
borrowers; and
(iv) certain bilateral credit arrangements of PeatInvest NV and its subsidiaries.
The refinancing is anticipated to allow Greenyard to lower its average annual interest cost by at
least EUR 15 million, with a one-off financial cost of approx. EUR 18 million (consisting in large
part of the early redemption premium of 3.938% of the principal amount of the senior secured
notes, and fees for external advisers), implying a payback of only 1.2 years. The annual decrease
in interest cost compares very favourably to the guidance of a potential EUR 12 million annual
decrease in interest costs that Greenyard had issued in May 20151. The refinancing will also
allow Greenyard to extend the average maturity of its financing instruments to 4.4 years and to
provide increased balance sheet flexibility to fund future growth. The refinancing will be
completed upon the successful placement and issuance of the convertible bonds and closing of
the new credit facilities.
The Deprez family, acting through Deprez Holding NV, Greenyard’s controlling shareholder
owning currently 43.8% of the shares, has indicated an interest to subscribe for up to 12% of the
convertible bonds, subject to allocation and without any priority vis-à-vis other investors.
1 Annex to the special report of the board of directors of Greenyard Foods NV (now Greenyard NV) in relation to the capital increase in kind by
Stichting Administratiekantoor FieldLink of 1,207,118 shares of FieldLink NV, page 6. This report is available at
http://greenyard.group/frontend/files/userfiles/files/uk/3%20FIELD%20BIJLAGEN%20ENG.pdf.
08/12/2016 2 / 5
REGULATED INFORMATION AND INSIDE INFORMATION
Marleen Vaesen, CEO of Greenyard, comments on the refinancing:
“We are pleased to announce this refinancing. This was a key objective of the business
combination between Greenyard, the Univeg Group and the PeatInvest Group in May 2015. The
refinancing is expected to strongly reduce the average annual interest cost by at least EUR 15
million and improves our cash generation by the same amount, which is EUR 3 million higher
than previously communicated. This significant cash generation improvement will be supportive
to achieve our long term strategic plan to generate profitable growth.”
The convertible bonds will be issued at 100% of their principal amount and are expected to have
a coupon range between 3.5% and 4% per annum, payable semi-annually in arrear on 22 June
and 22 December each year, with the first interest payment date being 22 June 2017. The
conversion price is expected to be set at a premium of between 22.5% and 27.5% of the volume
weighted average price of Greenyard’s shares on Euronext Brussels between the opening and
closing of the market today.
The new term loan facility, the new revolving facility and the existing EUR 150 million 5.00% fixed
rate retail bonds due July 2019 issued by Greenyard will benefit from security provided by
certain group companies.
The final terms of the convertible bonds are expected to be announced through a pricing press
release at the end of the bookbuilding procedure, which is expected to be released today. The
final conversion price of the convertible bonds will be announced after closing of the market
today. The key terms of the convertible bonds are as follows:
- The convertible bonds, due 2021, will be issued by FieldLink NV, a wholly-owned subsidiary
of Greenyard and will be senior and unsecured. The convertible bonds will be guaranteed by
Greenyard and will be convertible into newly issued ordinary shares of Greenyard.
- The convertible bonds will be issued in denominations of EUR 100,000 in principal amount.
- The convertible bond offering will be launched today through an accelerated bookbuilding
procedure. The convertible bonds will be offered solely to institutional investors, outside
the United States of America (in accordance with Regulation S under the U.S. Securities Act
of 1933, as amended) and outside Canada, Australia, South Africa (except to investors who
fall within one of the categories set out in section 96(1)(a) of the South African Companies
Act, 2008, as amended) and Japan.
- The final terms and conditions of the convertible bonds will contain customary clauses that
will allow FieldLink to redeem the convertible bonds in cash, new and/or treasury ordinary
shares of Greenyard, or a combination thereof at FieldLink’s choice, upon conversion of the
convertible bonds by the bondholders.
- Unless previously converted or redeemed, or purchased and cancelled, the convertible
bonds will be redeemed at par on 22 December 2021.
- FieldLink will have the option to call all outstanding convertible bonds on or after 22 January
2020 at par plus accrued interest in accordance with the terms and conditions of the
convertible bonds, provided that the volume weighted average price of Greenyard’s shares
exceeds 130% of the conversion price over a specified period or, at any time, if 15% or less
of the principal amount of the convertible bonds remains outstanding.
- The settlement of the convertible bond offering is expected to take place on or around 22
December 2016. Admission to trading of the convertible bonds on the Open Market
(Freiverkehr) segment of the Frankfurt Stock Exchange will be sought within 60 days of the
08/12/2016 3 / 5
REGULATED INFORMATION AND INSIDE INFORMATION
settlement date.
- Greenyard, FieldLink, their material subsidiaries, Deprez Holding NV, Food Invest
International NV and Mr. Hein Deprez will agree to certain customary restrictions (subject to
customary exceptions) on their ability to issue or dispose of Greenyard shares, or certain
equity-linked instruments in respect of such shares, during a period commencing today and
ending 90 days after the settlement date of the convertible bond offering.
BNP Paribas Fortis and Berenberg are acting as joint global coordinators and joint bookrunners,
and Daiwa Capital Markets, Degroof Petercam and KBC Bank are acting as joint bookrunners.
For additional information, please contact :
Marleen Vaesen, CEO
T +32 15 32 42 97
marleen.vaesen@greenyardfoods.com
Carl Peeters, CFO
T +32 15 32 42 69
carl.peeters@greenyardfoods.com
Disclaimer
This press release may contain forward-looking statements. Such statements reflect the current
views of management regarding future events, and involve known and unknown risks,
uncertainties and other factors that may cause actual results to be materially different from any
future results, performance or achievements expressed or implied by such forward-looking
statements. Greenyard is providing the information in this press release as of this date and does
not undertake any obligation to update any forward-looking statements contained in this press
release in light of new information, future events or otherwise. Greenyard disclaims any liability
for statements made or published by third parties and does not undertake any obligation to
correct inaccurate data, information, conclusions or opinions published by third parties in relation
to this or any other press release issued by Greenyard.
About Greenyard
Greenyard (Euronext Brussels: GREEN) is a global market leader of fresh, frozen and prepared fruit
& vegetables, flowers, plants and growing media. Counting Europe’s leading retailers amongst its
customer base, the group provides efficient and sustainable solutions to customers and suppliers
through best-in-class products, market leading innovation, operational excellence and outstanding
service.
Our vision is to make lives healthier by helping people enjoy fruit & vegetables at any moment,
easy, fast and pleasurable, whilst fostering nature.
With some 8,200 employees operating in 25 countries worldwide, Greenyard identifies its people
and key customer and supplier relationships as the key assets which enable it to deliver goods and
services worth almost EUR 4 billion per annum.
www.greenyard.group
08/12/2016 4 / 5
REGULATED INFORMATION AND INSIDE INFORMATION
IMPORTANT INFORMATION
NO ACTION HAS BEEN TAKEN BY GREENYARD OR FIELDLINK, OR BNP PARIBAS FORTIS, BERENBERG, DAIWA CAPITAL MARKETS,
DEGROOF PETERCAM AND KBC BANK (TOGETHER, THE “MANAGERS”) OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD
PERMIT AN OFFERING OF THE CONVERTIBLE BONDS OR POSSESSION OR DISTRIBUTION OF THIS PRESS RELEASE OR ANY OFFERING
OR PUBLICITY MATERIAL RELATING TO THE CONVERTIBLE BONDS IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS
REQUIRED. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY GREENYARD, FIELDINK AND THE
MANAGERS TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH RESTRICTIONS.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA OR FOR
THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN THE SECURITIES ACT), AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA
OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE PROHIBITED BY APPLICABLE LAW. THIS PRESS RELEASE IS NOT AN
OFFER TO SELL SECURITIES OR THE SOLICITATION OF ANY OFFER TO BUY SECURITIES, NOR SHALL THERE BE ANY OFFER OF
SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER OR SALE WOULD BE UNLAWFUL.
THIS PRESS RELEASE AND THE OFFERING OF THE CONVERTIBLE BONDS WHEN MADE ARE ONLY ADDRESSED TO, AND DIRECTED IN
MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (THE “EEA”) AT PERSONS WHO ARE “QUALIFIED INVESTORS” WITHIN THE
MEANING OF ARTICLE 2(1)(E) OF THE PROSPECTUS DIRECTIVE (“QUALIFIED INVESTORS”). FOR THESE PURPOSES, THE EXPRESSION
"PROSPECTUS DIRECTIVE" MEANS DIRECTIVE 2003/71/EC, AS AMENDED.
THIS PRESS RELEASE AND THE OFFERING OF THE CONVERTIBLE BONDS ARE NOT ADDRESSED TO RETAIL INVESTORS AND,
ACCORDINGLY, THIS PRESS RELEASE IS NOT BEING DISTRIBUTED TO RETAIL INVESTORS. FOR THESE PURPOSES, “RETAIL INVESTOR”
MEANS (I) A RETAIL CLIENT AS DEFINED IN POINT (11) OF ARTICLE 4(1) OF DIRECTIVE 2014/65/EU OR (II) A CUSTOMER WITHIN THE
MEANING OF DIRECTIVE 2002/92/EC, WHERE THAT CUSTOMER WOULD NOT QUALIFY AS A PROFESSIONAL CLIENT AS DEFINED IN
POINT (10) OF ARTICLES 4(1) OF DIRECTIVE 2014/65/EU. EACH PERSON WHO INITIALLY ACQUIRES ANY CONVERTIBLE BONDS OR TO
WHOM ANY OFFER OF CONVERTIBLE BONDS MAY BE MADE WILL BE DEEMED TO HAVE REPRESENTED, ACKNOWLEDGED AND
AGREED THAT IT IS NOT A RETAIL INVESTOR.
IN ADDITION, IN THE UNITED KINGDOM THIS PRESS RELEASE IS BEING DISTRIBUTED ONLY TO, AND IS DIRECTED ONLY AT,
QUALIFIED INVESTORS (I) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN
ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE
“ORDER”) AND QUALIFIED INVESTORS FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER, AND (II) TO WHOM IT MAY
OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THIS
PRESS RELEASE MUST NOT BE ACTED ON OR RELIED ON (I) IN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT RELEVANT
PERSONS, AND (II) IN ANY MEMBER STATE OF THE EEA OTHER THAN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT
QUALIFIED INVESTORS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS PRESS RELEASE RELATES IS AVAILABLE ONLY
TO (A) RELEVANT PERSONS IN THE UNITED KINGDOM AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS IN THE UNITED
KINGDOM AND (B) QUALIFIED INVESTORS IN MEMBER STATES OF THE EEA (OTHER THAN THE UNITED KINGDOM).
THIS DOCUMENT AND THE OFFERING OF THE CONVERTIBLE BONDS WHEN MADE ARE ONLY ADDRESSED TO, AND DIRECTED IN,
SOUTH AFRICA AT PERSONS WHO FALL WITHIN ONE OF THE CATEGORIES SET OUT IN SECTION 96(1)(A) OF THE SOUTH AFRICAN
COMPANIES ACT, 2008, AS AMENDED (“EXEMPT INVESTORS”). EACH PERSON IN SOUTH AFRICA WHO INITIALLY ACQUIRES ANY
BONDS OR TO WHOM ANY OFFER OF BONDS MAY BE MADE AND, TO THE EXTENT APPLICABLE, ANY FUNDS ON BEHALF OF WHICH
SUCH PERSON IS ACQUIRING THE BONDS THAT ARE LOCATED IN SOUTH AFRICA WILL BE DEEMED TO HAVE REPRESENTED,
ACKNOWLEDGED AND AGREED THAT IT IS A EXEMPT INVESTOR.
ANY DECISION TO PURCHASE ANY OF THE CONVERTIBLE BONDS SHOULD ONLY BE MADE ON THE BASIS OF AN INDEPENDENT
REVIEW BY A PROSPECTIVE INVESTOR OF GREENYARD’S AND FIELDLINK’S PUBLICLY AVAILABLE INFORMATION. NEITHER THE
MANAGERS NOR ANY OF THEIR RESPECTIVE AFFILIATES ACCEPT ANY LIABILITY ARISING FROM THE USE OF, OR MAKE ANY
REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF, THIS PRESS RELEASE OR GREENYARD’S OR FIELDLINK’S PUBLICLY
AVAILABLE INFORMATION. THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO CHANGE IN ITS ENTIRETY
WITHOUT NOTICE UP TO THE CLOSING DATE.
EACH PROSPECTIVE INVESTOR SHOULD PROCEED ON THE ASSUMPTION THAT IT MUST BEAR THE ECONOMIC RISK OF AN
INVESTMENT IN THE CONVERTIBLE BONDS OR THE ORDINARY SHARES TO BE ISSUED OR TRANSFERRED AND DELIVERED UPON
CONVERSION OF THE CONVERTIBLE BONDS AND NOTIONALLY UNDERLYING THE CONVERTIBLE BONDS (TOGETHER WITH THE
CONVERTIBLE BONDS, THE “SECURITIES”). NONE OF GREENYARD, FIELDLINK OR THE MANAGERS MAKE ANY REPRESENTATION AS
TO (I) THE SUITABILITY OF THE SECURITIES FOR ANY PARTICULAR INVESTOR, (II) THE APPROPRIATE ACCOUNTING TREATMENT AND
POTENTIAL TAX CONSEQUENCES OF INVESTING IN THE SECURITIES OR (III) THE FUTURE PERFORMANCE OF THE SECURITIES EITHER
IN ABSOLUTE TERMS OR RELATIVE TO COMPETING INVESTMENTS.
08/12/2016 5 / 5
REGULATED INFORMATION

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Highlights – H1 ending September 30, 20161
• Sales were up 8,6% YoY in H1 to € 2.146,1m. Growth came from internal growth (6,8%) and M&A (2,8%) with FX being slightly negative (-0,9%):
• Fresh’ sales grew by 6,9% mainly thanks to growth in the German and Dutch markets
• Long Fresh’ sales2 were up 19,6% supported by solid internal sales growth (4,1%) and the incorporation of Lutèce (18,2%)
• Horticulture sales were slightly down (-2,5%) due to a planned product discontinuation
• REBITDA3 increased by 7,2% to € 77,7m, a margin of 3,6%. The REBITDA improvement in H1 (YoY) of € 5,2m is mainly driven by:
• Fresh improved by € 4,7m thanks to top line growth in core markets and improved margins in the logistic operations
• Long Fresh reported a small drop (€ -0,7m) as improved portfolio management, volume growth and ongoing efficiencies compensated the impact from adverse weather conditions and ongoing price pressure in Prepared
• Horticulture’s profitability rose further ( € 1,2m) thanks to an improved product mix
• Net profit came in at € 6,8m, which translates into an EPS of € 15c
• Net debt dropped by € 36,5m  YoY to € 379,0m. This results in a leverage of 2,7x, down from 2,8x at year-end and 3,1x in September 2015

 

CEO Marleen Vaesen comments on the results:
‘Greenyard started the year with good internal growth, combined with solid improvement in REBITDA. We continue to focus on our strategic priorities to drive profitable growth. As evidenced by the smooth integration of Lutèce with synergies continuing to come in. The expansion in Lipno, Poland,  became operational this summer and supports our operational excellence program in Frozen.  The new US facility, planned to open next year, is illustrative for our ambitions in the Growth markets. Finally, the operations in Frozen France  are normalising. We continue to strengthen the corporate culture under our new name ‘Greenyard’,  a powerful umbrella for the future.‘

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PRESS RELEASE

 

Disclosure made according to the requirements of the Law of 2 May 2007 & Board resignation


Sint-Katelijne-Waver, Belgium, October 7, 2016

In accordance with article 14 of the Belgian Law of 2 May 2007 on the disclosure of significant shareholdings in listed companies, Greenyard announces the receipt of one transparency declaration on October 3, 2016.

2D NV sold 2,749,343 shares, or 6,20% of outstanding shares, to Food Invest International NV (FII NV) and 493,950 shares, or 1,11% of outstanding shares, to Tosalu NV.
Following these transactions, which took place on September 27, 2016, FII NV’s stake in Greenyard increased from 8,53% to 14,73%, hereby surpassing the 10% threshold, whereas 2D NV’s stake is reduced from 7,31% to 0,00%.

As from this date, 2D NV is no longer a shareholder of the company and therefore 2D NV is no longer acting in concert with Deprez Holding NV, Hein Deprez, Food Invest International NV, GIMV NV, GIMV-XL Partners Comm.VA, Adviesbeheer GIMV-XL NV and GIMV-XL Partners Invest Comm.V,  M.R.B.B. CVBA and Agri Investment Fund CVBA.

Furthermore, Greenyard announces that Mr. Peter Gain has given his resignation to the Board of Directors on September 27, 2016. As from this date, Mr. Gain is no longer member of Greenyard’s Board of Directors and Strategic Committee. We wish to thank him for his contribution to the company in the execution of his mandate as director. 

 

Notifications
Notifications should be transmitted to both Greenyard NV and the FSMA.
Persons with a notification duty may submit their notifications to the company electronically: compliance.officer@greenyardfoods.com or ir@greenyardfoods.com

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PRESS RELEASE

 

Shareholders approve ‘Greenyard’ as new group name as well as its first dividend payment


Sint-Katelijne-Waver, Belgium, September 16, 2016


Today’s Extraordinary General Meeting approved the name change from ‘Greenyard Foods’ into ‘Greenyard’, which makes the company name a clearer and more powerful umbrella, covering all activities of the group.

The proposal to pay out a first, regular dividend of € 0,20/share was approved by the Annual General Meeting. This dividend represents a yield of 1,4% of today’s closing price.

Furthermore, following Board changes were also approved:

New appointments:

• Mr. Aalt Dijkhuizen as non-executive and independent director – Mr. Dijkhuizen has been a professor at the University of Wageningen till 1998 hereafter becoming MD of Business Group Agri Northern Europe and Corporate Director Food Safety of Nutreco. From 2002 till 2014 he was the President and CEO of Wageningen University & Research center. Since 2014 he is the chairman of the Dutch Topsector Agri&Food. 
• Mr. Marc Wittemans as non-executive and non-independent director – Mr. Wittemans started his career at the Belgian Farmer’s association and became CEO of the MRBB, the financial holding of this association, in 2008. Besides this role, he is a board member at KBC, Acerta and Agri Investment Fund amongst others.

Resignations:

• Ardiego BVBA, represented by Mr. Arthur Goethals with effect as of September 16, 2016
• The Marble BVBA, represented by Mr. Luc Van Nevel, with effect as of September 16, 2016
• Mr. Peter Maenhout with effect as of September 16, 2016

 

Financial calendar

- Dividend payment      October 4, 2016
- H1 results       November 22, 2016 (after market)
- Q3 trading update      February 23, 2017 (after market)

 

 

For additional information, please contact Greenyard:

Marleen Vaesen, CEO
Tel. +32 (0)15/32.42.97
Email: marleen.vaesen@greenyardfoods.com

Kris Kippers, IR
Tel. +32 (0)15/32.42.49
Email: kris.kippers@greenyardfoods.com

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PRESS RELEASE

 

Doubling capacity in main Frozen production unit in Poland ensures future growth


Sint-Katelijne-Waver, Belgium, September 6, 2016


Greenyard Foods announces today the finalization of its expansion in Lipno, Poland

Today, Greenyard Foods is proud to announce the opening of its expanded plant in Lipno, Poland. The main factory now encompasses 22,000m². This investment creates a solid platform for future growth of our Frozen business.

Thanks to this significant investment, Greenyard’s Frozen operations in Poland are now largely concentrated in one location, Lipno, supported by satellite factories in Adamów and Dabrowa, and a storage and distribution facility in Elk. The enlarged factory is located in the best developed agricultural area of the country and will be able to process more varieties of fruit & vegetables. The factory is state of the art and significantly lowers the water and energy consumption.


Marleen Vaesen, CEO of Greenyard Foods, comments on the opening:

‘We are proud to announce the finalization of this major investment at Lipno, our main Polish production facility. This capacity increase allows for future growth of our business. It is an important step in centralizing our production facilities, as part of our operational excellence program.’

 

Financial calendar

- EGM & AGM       September 16, 2016 (1.45 PM CET)
- H1 results       November 22, 2016 (after market)
- Q3 trading update      February 23, 2017 (after market)

 

For additional information, please contact Greenyard Foods:

Marleen Vaesen, CEO
Tel. +32 (0)15/32.42.97
Email: marleen.vaesen@greenyardfoods.com

Kris Kippers, IR
Tel. +32 (0)15/32.42.49
Email: kris.kippers@greenyardfoods.com

Contact

Greenyard NV
Strijbroek 10
2860 Sint-Katelijne-Waver (Belgium)

t. +32 (0)15 32 42 00
f. +32 (0)15 32 42 01

info@greenyard.group

Investor Relations

Contact:

t. +32 15 32 42 49

ir@greenyard.group