Bakkavör Group hf. - Company Announcement

Bakkavör Group relinquishes its economic interest in Greencore Group under a CFD

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markets, it is with regret that the funding source for the CFD was withdrawn,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.

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