21 Oct 2013 07:00
21 October 2013
Sweett Group plc (the "Company")
Award of shares under the Share Incentive Plan
Sweett Group (AIM: CSG), the international construction and property consultancy announces that it received notification on 17 October 2013 that, following payroll contributions made on 30 September 2013, Cyril Sweett Trustee Company Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP'), awarded 11,282 ordinary shares of 10 pence each respectively in the Company ("Ordinary Shares") to participants in the SIP. All of the 11,282 shares awarded were unallocated shares already held in the SIP.
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. Following a change to the SIP Trust Deed and Rules on 1 January 2011, eligible participating employees now contribute funds to purchase partnership shares on a monthly basis. Dividends in respect of shares held by the SIP are re-invested to purchase dividend shares.
Following the appropriation, Cyril Sweett Trustee Company Limited holds 9,176,744 Ordinary shares representing 13.48% of the issued share capital of the Company.
Under the SIP, Mr Dean Webster, Chief Executive Officer of the Company, purchased 258 Ordinary Shares and Mr Derek Pitcher, a Director of the Company, purchased 258 Ordinary Shares both at a price of 48.50 pence per share via contributions made on 30 September 2013.
Therefore the following directors' beneficial holdings in the Company have changed following these appropriations:
Prior to the appropriations | Following the appropriations | |||
Name | Number of shares | % | Number of shares | % |
Mr D R Pitcher | 1,997,702 | 2.93 | 1,997,960 | 2.93 |
Mr D L Webster | 1,080,273 | 1.59 | 1,080,531 | 1.59 |
At the date of this announcement, the Company's issued share capital consists of 68,074,998 Ordinary shares with voting rights and the Company holds no Ordinary Shares in Treasury.
For further information, call:
Sweett Group plc
Chris Goscomb, Chief Financial Officer 020 7061 9520
Philip Watt, Company Secretary 020 7061 9053
Westhouse Securities Limited 020 7601 6100
Tom Griffiths
Paul Gillam
ENDS