29 Apr 2010 07:00
Cyril Sweett Group plc (the "Company")
29 April 2010
Award of shares under the Share Incentive Plan
The Company announces that it has today received notification, following the quarterly accumulation period which ended on 31 March 2010, that Capita IRG Trustees Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP') awarded 417,181 ordinary shares of 10 pence each in the Company ("Ordinary Shares") to participants in the plan on 28 April 2010.
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 Capita IRG Trustees Limited holds 10,484,614 Ordinary Shares representing 17.9% of the issued share capital of the Company.
There were no changes to the beneficial holdings of the Directors in the Company following this quarterly appropriation.
At the date of this announcement, the Company's issued share capital consists of 58,596,071 Ordinary Shares with voting rights and the Company holds no Ordinary Shares in Treasury.
For further information, call:
Cyril Sweett Group plc 0207 061 9053
Francesca Wilson, Company Secretary
Brewin Dolphin Investment Banking 0845 213 4730
Andrew Kitchingman
Sean Wyndham-Quin
ENDS