28th Jul 2010 16:26
Cyril Sweett Group plc (the "Company")
28 July 2010
Award of shares under the Share Incentive Plan
The Company announces that on 27 July 2010 it received notification, following the quarterly accumulation period which ended on 30 June 2010, that Cyril Sweett Trustee Company Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP') awarded, in aggregate, 544,201 ordinary shares of 10 pence each in the Company ("Ordinary Shares") to participants in the SIP on 27 July 2010. Of these, 352 unallocated shares already held in the SIP were used, 295,839 Ordinary Shares were purchased in the market over the preceding 14 days at an average price of 35.6 pence per share and 248,010 Ordinary Shares were issued by the Company. The issued shares were used to offset the Partnership share requirement.
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 each quarterly accumulation period, eligible participating employees contribute funds to purchase partnership shares which are matched on a four for five basis. Dividends in respect of shares held by the SIP are re-invested to purchase dividend shares.
Following the quarterly appropriation Cyril Sweett Trustee Company Limited holds 10,315,625 Ordinary Shares representing 15.98% of the issued share capital of the Company.
The following directors' beneficial holdings in the Company have changed following the quarterly appropriation:
|
Prior to the quarterly appropriation |
Following the quarterly appropriation |
|||
|
Name |
Number of shares |
% |
Number of shares |
% |
|
Mr M J G Henderson |
331,154 |
0.51 |
333,854 |
0.52 |
|
Mr R S Mabey |
281,878 |
0.44 |
284,578 |
0.44 |
|
Mr D L Webster |
963,626 |
1.49 |
966,326 |
1.50 |
|
Total |
1,576,658 |
2.44 |
1,584,758 |
2.46 |
Application for the issued Ordinary Shares to be admitted to trading on AIM will be made at the earliest practicable opportunity upon which the Company's issued share capital will consist of 64,545,639 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in Treasury.
For further information, call:
Cyril Sweett Group plc 0207 061 9053
Francesca Wilson, Company Secretary
Brewin Dolphin 0845 213 4730
Matt Davis
Sean Wyndham-Quin
ENDS
Related Shares:
CSG.L