23rd Apr 2013 17:30
The following replaces announcement 9405C released on 23 April 2013 at 07.00 in which the number of Ordinary Shares awarded to participants in the SIP, all of which were unallocated shares already held in the SIP, was incorrectly stated as 6,422. The correct number of Ordinary Shares is 31,168. All other information remains unchanged. The full corrected wording of the announcement is set out below:
23 April 2013
Sweett Group plc (the "Company")
Award of shares under the Share Incentive Plan
The Company announces that it received notification on 22 April 2013 that, following payroll contributions made on 31 March 2013, Cyril Sweett Trustee Company Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP'), awarded 31,168 ordinary shares of 10 pence each respectively in the Company ("Ordinary Shares") to participants in the SIP. All of the 31,168 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 9,495,584 Ordinary shares representing 14.03% of the issued share capital of the Company.
Under the SIP, Mr Dean Webster, Chief Executive Officer of the Company, purchased 459 ordinary shares, Mr Derek Pitcher, a Director of the Company, purchased 459 ordinary shares and Mr Chris Goscomb, a Director of the Company, purchased 5,504 shares at a price of 27.25 pence per share via contributions made on 31 March 2013.
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 | 1,775,585 | 2.62 | 1,776,044 | 2.62 |
Mr D L Webster | 1,066,785 | 1.58 | 1,067,244 | 1.58 |
Mr C R J Goscomb | 227,957 | 0.33 | 233,461 | 0.35 |
At the date of this announcement, the Company's issued share capital consists of 67,694,055 Ordinary shares with voting rights and the Company holds no Ordinary shares in Treasury.
For further information, call:
Sweett Group plc 020 7061 9053
Patrick Sinclair, Company Secretary
Westhouse Securities Limited 020 7601 6100
Tom Griffiths
Paul Gillam
ENDS
Related Shares:
CSG.L