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Sweett Group (CSG)

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Friday 23 March, 2012

Sweett Group

Award of shares under the Share Incentive Plan

RNS Number : 0055A
Sweett Group PLC
23 March 2012
 



23 March 2012

 

Sweett Group plc (the "Company")

 

 

Award of shares under the Share Incentive Plan

 

 

The Company announces that it received notification on 19 March 2012 that, following payroll contributions made on 29 February 2012, Cyril Sweett Trustee Company Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP'), awarded 21,636 ordinary shares of 10 pence each respectively in the Company ("Ordinary Shares") to participants in the SIP. All of the 21,636 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 10,381,709 Ordinary shares representing 15.66% of the issued share capital of the Company.

 

Under the SIP, Mr Dean Webster, Chief Executive Officer of the Company, purchased 588 ordinary shares, and Mr Derek Pitcher, a Director of the Company, purchased 589 ordinary shares at a price of 21.15 pence per share via contributions made on 29 February 2012.

 

Therefore the following director's 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

1,678,865

2.53

1,679,454

2.53

Mr D L Webster

1,016,473

1.53

1,017,061

1.53

 

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


This information is provided by RNS
The company news service from the London Stock Exchange
 
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