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Award of shares under the Share Incentive Plan

29 Jan 2010 16:58

RNS Number : 3930G
Cyril Sweett Group PLC
29 January 2010
 



Cyril Sweett Group plc (the "Company")

29 January 2010

Award of shares under the Share Incentive Plan

The Company announces that it has received notification today that Capita IRG Trustees Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP') has used its dividend to purchase dividend shares on behalf of participants in the SIP on 22 January 2010.

The SIP is a discretionary trust for the benefit of employees of the Company and participating subsidiaries, which holds ordinary shares of 10 pence each in the Company ("Ordinary Shares") acquired and/or awarded under the partnership, matching free and dividend shares sections of the plan. During a quarterly accumulation period, eligible participating employees contribute funds to purchase partnership shares which are matched on a two for five basis. Dividends in respect of shares held by the SIP are re-invested to purchase dividend shares.

Following the dividend re-investment, 178,227 Ordinary Shares were awarded to participants in the plan on 11 December 2009, following which Capita IRG Trustees Limited holds 10,476,958 Ordinary shares.

 

Directors in the Company who are beneficiaries of the SIP and their respective beneficial holdings in the Company, before and after this quarterly appropriation, are as follows:

Prior to the quarterly appropriation Following the quarterly appropriation
Name Number of shares % Number of shares %
Mr C R J Goscomb
96,720
0.17
97,323
0.17
Mr M J G Henderson
330,255
0.57
331,154
0.57
Mr F R Ives
2,810,811
4.88
2,810,811
4.88
Mr R S Mabey
280,815
0.49
281,878
0.49
Mr D R Pitcher
1,531,713
2.66
1,531,713
2.66
Mr D L Webster
953,626
1.66
953,626
1.66
Total
6,003,940
10.43
6,006,505
10.43

At the date of this announcement, the Company's issued share capital consists of 57,582,328 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

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