Further Vesting of LTIP Awards, TVR and Rule 2.9
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For immediate release |
3 November 2023 |
ScS Group plc
("ScS" the "Group" or the "Company")
Further Vesting of LTIP Awards
Total Voting Rights
Rule 2.9 Announcement
Total Voting Rights
On 1 November 2023, ScS announced that the Company's Employee Benefit Trust ("EBT") transferred 47,625 ordinary shares of 0.1 pence in the Company ("Ordinary Shares") to two PDMRs in satisfaction of vesting of share awards granted on 12 October 2020 (the "2021 LTIP"). ScS confirms that, on 2 November 2023, the EBT transferred a further 29,738 Ordinary Shares to other employees of the Group. The total voting rights of the Company has therefore increased to 33,900,677. The total voting rights of the Company excludes those shares still held by the EBT, the voting rights to which have been waived. This figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Group under the FCA's Disclosure and Transparency Rules.
Rule 2.9 Announcement
Notwithstanding the change to the total rights, in accordance with Rule 2.9 of the Code, ScS confirms that, as at today's date it has 33,954,674 Ordinary Shares in issue. The International Securities Identification Number (ISIN) for ScS Shares is GB00BRF0TJ56. This figure may be used by shareholders as the denominator for the calculation by which they determine if they are required to make a disclosure under pursuant to Rule 8.3 of the City Code on Takeovers and Mergers.
Enquiries:
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ScS Group plc Steve Carson, Chief Executive Officer Mark Fleetwood, Chief Financial Officer Chris Muir, Executive Director |
c/o Buchanan +44 (0)20 7466 5000 |
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Shore Capital - Financial Adviser & Broker to ScS Group PLC Patrick Castle James Thomas Iain Sexton Ben Canning |
Tel: +44 (0)207 408 4050 |
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Buchanan Richard Oldworth Toto Berger Verity Parker |
Tel: +44 (0)20 7466 5000 |
Notes to Editors
ScS is one of the UK's largest retailers of sofas, flooring and furniture. We trade as two separate brands- the core ScS brand and the newly acquired Snug brand.
The ScS brand seeks to offer value and choice through a wide range of sofas, flooring and furniture products. The product range is designed to appeal to a broad customer base with a mid-market priced offering and is currently traded from 100 stores. The brand specialises primarily in fabric and leather sofas and chairs, selling a range of branded products which are not sold under registered trademarks and a range of branded products which are sold under registered trademarks owned by ScS (such as Endurance, Inspire and SiSi Italia). It also offers a range of third party brands (which include La-Z-Boy, Ideal Home and G Plan). The flooring business includes carpets, rugs, wood, laminate and luxury vinyl tiling.
Snug is an innovative digital-first sofa and sofa-bed business specialising in modular and re-configurable sofas, with quick delivery and excellent quality and customer service. Although predominantly online, Snug also operates from three stores in Leeds, Bristol and Westfield London, and 23 concessions throughout the UK.
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