Bakkavor Issues New Shares to Fund Employee Awards Ahead of Greencore Takeover

Bakkavor Group plc ( (GB:BAKK) ) has shared an update.

Bakkavor Group has issued 16,983,501 new ordinary shares at 2 pence each, allotting them to its Employee Benefit Trust to satisfy employee options and awards that will vest in connection with the recommended acquisition of Bakkavor by Greencore Group. The new shares, which rank pari passu with existing stock, increase Bakkavor’s issued share capital to 596,409,086 shares and represent a key administrative step in implementing the court-sanctioned scheme of arrangement for the takeover, ensuring employee incentives are honoured as the transaction progresses under UK takeover rules.

The most recent analyst rating on (GB:BAKK) stock is a Hold with a £230.00 price target. To see the full list of analyst forecasts on Bakkavor Group plc stock, see the GB:BAKK Stock Forecast page.

Spark’s Take on GB:BAKK Stock

According to Spark, TipRanks’ AI Analyst, GB:BAKK is a Neutral.

Bakkavor Group plc’s overall stock score is driven primarily by its stable financial performance, which provides a strong foundation for future growth. However, technical analysis indicates potential short-term weakness, and the valuation suggests the stock might be overvalued. The absence of earnings call data and corporate events limits additional insights.

To see Spark’s full report on GB:BAKK stock, click here.

More about Bakkavor Group plc

Bakkavor Group plc is a UK-listed company whose ordinary shares trade on the Main Market of the London Stock Exchange. The group operates share-based incentive plans for employees, supported by an Employee Benefit Trust that holds and receives newly issued shares to satisfy options and awards granted under these plans.

Average Trading Volume: 943,240

Technical Sentiment Signal: Buy

Current Market Cap: £1.33B

See more insights into BAKK stock on TipRanks’ Stock Analysis page.