7th Oct 2008 16:29
Cyril Sweett Group plc (the "Company")
7 October 2008
Award of shares under the Share Incentive Plan
The Company announces that it has received notification today that during the quarterly accumulation period ended 30 September 2008, Cyril Sweett Trustee Company Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP') transferred 64,132 ordinary shares of 10 pence each in the Company ("Ordinary Shares") to participants leaving the plan and in accordance with the plan rules, has used its dividend to purchase dividend shares on behalf of participants 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. During a quarterly accumulation period, eligible participating employees contribute funds to purchase partnership shares which are matched on a two for five basis. Dividends in respect of shares held by the SIP are re-invested to purchase dividend shares.
Following the dividend re-investment, 217,803 Ordinary Shares were awarded to participants in the plan on 6 October 2008, following which Cyril Sweett Trustee Company Limited holds 9,236,849 Ordinary Shares.
Directors in the Company who are beneficiaries of the SIP and their respective beneficial holdings in the Company, before and after this quarterly appropriation, are as follows:
|
Prior to the dividend re-investment |
Following the dividend re-investment |
|||
|
Name |
Number of shares |
% |
Number of shares |
% |
|
Mr M J G Henderson |
211,666 |
0.38 |
212,286 |
0.38 |
|
Mr F R Ives |
2,660,850 |
4.73 |
2,663,193 |
4.73 |
|
Mr M Kemsley |
1,013,534 |
1.80 |
1,015,638 |
1.80 |
|
Mr R S Mabey |
211,188 |
0.38 |
211,954 |
0.38 |
|
Mr D R Pitcher |
1,436,346 |
2.55 |
1,438,689 |
2.56 |
|
Mr D L Webster |
853,174 |
1.52 |
855,453 |
1.52 |
|
Total |
6,386,758 |
11.34 |
6,397,213 |
11.36 |
At the date of this announcement, the Company's issued share capital consists of 56,301,775 Ordinary Shares with voting rights and the Company holds 1,238,080 Ordinary shares in Treasury.
For further information, call:
Cyril Sweett Group plc 0207 061 9386
James Murray, Company Secretary
Brewin Dolphin Investment Banking 0845 270 8610
Andrew Kitchingman
Sean Wyndham-Quin
ENDS
Related Shares:
CSG.L