12 Oct 2009 13:35
Cyril Sweett Group plc (the "Company")
12 October 2009
Award of shares under the Share Incentive Plan
The Company announces that it has received notification on 9 October 2009 that following the end of the quarterly accumulation period ended 30 September 2009, Capita IRG Trustees Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP') awarded 251,341 Ordinary shares of 10 pence each in the Company ("Ordinary Shares") to participants in the plan on 9 October 2009.
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 the last 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 quarterly appropriation Capita IRG Trustees Limited holds 10,061,404 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 M J G Henderson | 326,680 | 0.58 | 328,272 | 0.58 |
| Mr F R Ives | 2,807,237 | 4.99 | 2,808,828 | 4.99 |
| Mr R S Mabey | 277,241 | 0.49 | 278,832 | 0.50 |
| Mr D R Pitcher | 1,528,139 | 2.72 | 1,529,730 | 2.72 |
| Mr D L Webster | 950,053 | 1.69 | 951,643 | 1.69 |
| Total | 5,889,350 | 10.47 | 5,897,305 | 10.48 |
At the date of this announcement, the Company's issued share capital consists of 56,252,333 Ordinary shares with voting rights and the Company holds 1,329,995 Ordinary Shares in Treasury.
For further information, call:
Cyril Sweett Group plc 0207 061 9053
Francesca Wilson, Company Secretary
Brewin Dolphin Investment Banking 0845 270 8610
Andrew Kitchingman
Sean Wyndham-Quin
ENDS