16th Dec 2015 09:03
LONDON (Alliance News) - Education IT and resources company RM PLC on Wednesday said trading was in line with its expectations for the full year.
The company, in a short statement, said trading for the year to the end of November met its expectations.
RM also said it has agreed the valuation on its defined benefit pension scheme with the plan's trustees. The deficit was agreed at GBP41.8 million as of May 31, 2015, down from GBP53.5 million at the last valuation three years earlier.
RM said the deficit recovery plan comprises an initial cash contribution of GBP4 million and GBP4 million into a previously established escrow account, together with deficit recovery payments remaining at GBP3.6 million per annum until 2024. These previously had been scheduled until 2027.
Shares in RM were down 1.5% to 165.5625 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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