23rd Apr 2012 08:44
23 April 2012
Sweett Group plc (the "Company")
Award of shares under the Share Incentive Plan
The Company announces that it received notification on 16 April 2012 that, following payroll contributions made on 16 April 2012, Cyril Sweett Trustee Company Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP'), awarded 49,936 ordinary shares of 10 pence each respectively in the Company ("Ordinary Shares") to participants in the SIP. All of the 49,936 shares were unallocated shares already held in the SIP.
The SIP is a discretionary trust for the benefit of employees of the Company and participating subsidiaries, which holds Ordinary shares acquired and/or awarded under the partnership, matching, free and dividend shares sections of the plan. Following a change to the SIP Trust Deed and Rules on 1 January 2011, eligible participating employees now contribute funds to purchase partnership shares on a monthly basis. Dividends in respect of shares held by the SIP are re-invested to purchase dividend shares.
Following the appropriation Cyril Sweett Trustee Company Limited holds 10,286,859 Ordinary shares representing 15.51% of the issued share capital of the Company.
Under the SIP, Mr Dean Webster, Chief Executive Officer of the Company, purchased 581 ordinary shares, and Mr Derek Pitcher, a Director of the Company, purchased 581 ordinary shares at a price of 21.5 pence per share via contributions made on 30 March 2012. Mr Chris Goscomb, Chief Financial Officer of the Company, also purchased 6,977 ordinary shares at a price of 21.5 pence.
Therefore the following directors' beneficial holdings in the Company have changed following these appropriations:
Prior to the appropriations | Following the appropriations | |||
Name | Number of shares | % | Number of shares | % |
Mr D R Pitcher | 1,679,454 | 2.53 | 1,680,035 | 2.53 |
Mr D L Webster | 1,042,061 | 1.53 | 1,042,642 | 1.57 |
Mr C R J Goscomb | 206,370 | 0.31 | 213,347 | 0.32 |
At the date of this announcement, the Company's issued share capital consists of 66,311,199 Ordinary shares with voting rights and the Company holds no Ordinary shares in Treasury.
For further information, call:
Sweett Group plc 020 7061 9053
Danielle Pass, Company Secretary
Westhouse Securities Limited 020 7601 6100
Tom Price
Paul Gillam
ENDS
Related Shares:
CSG.L