19th Feb 2008 09:00
Scapa Group PLC19 February 2008 19 February 2008 SCAPA GROUP PLC PENSION PAYMENTS Scapa Group plc is pleased to announce that the Pensions Regulator has nowconfirmed that no scheme funding directions will be issued in relation to thefuture funding plans which were previously agreed between the Trustees and theCompany for its three UK defined benefit schemes. Payments into the schemes(which all closed to future accrual from 1 October 2007) will be similar to thecurrent legacy payment levels of £3.3m plus costs and will rise annually withinflation. Commenting on the announcement, Chief Executive Calvin O'Connor said: "I am pleased that the Company, the Scheme Trustees and the Pensions Regulatorhave come to a satisfactory conclusion on this important area for Scapa. Thisnew agreement gives certainty on funding payments up to the next triennialvaluation, with legacy payments plus costs in line with current expenditurelevels." For further information: Calvin O'Connor Chief Executive Tel: 0161 301 7430Brian Tenner Finance Director Tel: 0161 301 7430Chris Hardie Arden Partners Tel: 0207 398 1639 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SCPA.L