Closure of final salary pension schemes

Christie Group PLC

02 April 2026

 

2 April 2026

Christie Group plc

("Christie Group" or the "Company")

Closure of final salary pension schemes

The Board of Christie Group plc (CTG.L) is pleased to advise that, following an extended and constructive consultation period with the remaining active members of its two defined benefit pension schemes, it has now reached agreement with all those members and the scheme trustees to cease active membership of both schemes, which will be effective from 6th April 2026. All affected members will now transfer to their respective employer's defined contribution pension arrangements.

The Group operates two schemes: The Venners plc Retirement Benefits Scheme and The Christie Group Pension and Assurance Scheme. Both schemes were closed to new entrants in 1999 and 2000 respectively, but since then have continued to accrue benefits for a declining number of active members.

Both schemes are expected to remain in a fully funded position, with a significant funding surplus when valued in accordance with the requirements of IAS 19. The assets of both schemes are invested to provide a hedge against any material fluctuations in the valuation of scheme liabilities, with the expectation that neither scheme is therefore at risk of moving into deficit.

The Group will now work collaboratively with the trustees with the shared objective of securing a full buy-in of both schemes, as a prelude to then achieving a full buy-out which would remove all scheme assets and liabilities from the Group's balance sheet.

 Dan Prickett, Christie Group Chief Executive Officer commented:

"This is another significant step forwards as part of our strategy to build a stronger, liability-light balance sheet, better equipped to support our strategic growth ambitions in the coming years. We are delighted to have concluded a positive and constructive consultation process with the small number of remaining active members. We will now work with the trustees to achieve a full buy out of the schemes, with the intention that in doing so we can even more robustly secure the pension benefits of all deferred and pensioner members across both schemes.

I would like to thank the trustees and the members concerned for their positive engagement and constructive dialogue throughout the consultation process."

Enquiries:

Christie Group plc

Dan Prickett                                                                       07885 813101

Chief Executive
                               

Simon Hawkins                                                                 07767 354366

Chief Financial Officer

Shore Capital

Patrick Castle                                                                     020 7408 4090

Nominated Advisor and Broker

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services group with 32 offices across the UK and Europe, catering to its specialist markets in the hospitality, leisure, healthcare, medical, childcare & education and retail sectors.

Christie Group operates in two complementary business divisions: Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PFS - Christie & Co, Pinders, Christie Finance and Christie Insurance: SISS - Venners.

Tracing its origins back to 1896, the Group has a long-established reputation for offering valued services to client companies in agency, valuation services, investment, consultancy, project management, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

For more information, please go to https://www.christiegroup.com/.

 

END