8 Oct 2010 16:17
Cyril Sweett Group plc (the "Company")
8 October 2010
Award of shares under the Share Incentive Plan
The Company announces that it has received notification on 30 September 2010 that Cyril Sweett Trustee Company 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.
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 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 dividend re-investment, 255,351 Ordinary Shares were awarded to participants in the plan on 20 August 2010, following which Cyril Sweett Trustee Company Limited holds 10,664,651 Ordinary Shares representing 16.52% of the issued share capital of the Company.
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 | 150,723 | 0.23 | 151,321 | 0.23 |
| Mr M J G Henderson | 333,854 | 0.52 | 334.864 | 0.52 |
| Mr E D Kerr | 247,965 | 0.38 | 250,113 | 0.39 |
| Mr R S Mabey | 284,578 | 0.44 | 285,748 | 0.44 |
| Mr D R Pitcher | 1,606,713 | 2.49 | 1,610,677 | 2.50 |
| Mr D L Webster | 966,326 | 1.50 | 969,205 | 1.50 |
| Total | 3,590,159 | 5.56 | 3,601,928 | 5.58 |
At the date of this announcement, the Company's issued share capital consists of 64,545,639 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 0845 213 4730
Matt Davis
Sean Wyndham-Quin
ENDS