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Johnston Press Says Study Set To Cut Pension Scheme Deficit
LONDON (Alliance News) - Local media group Johnston Press PLC on Wednesday said the study conducted with a view to cutting its pension scheme liabilities is set to result in a reduction.
The company said the study is expected to reduce the present value of the Johnston Press Pension Plan by around GBP50.0 million.
In addition, following a change to the scheme rules by the trustee, Johnston Press will be entitled to participate in any surplus when the scheme closes. As a result of this, an additional liability of GBP3.0 million will no longer be required.
In total, the adjustments will reduce the scheme deficit by around GBP53.0 million, from around GBP90.0 million previously.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Latest JPR News
- National World confirms acting finance chief in post permanently
9 Nov 2023 - Majedie Investment Unit Sells Entire Johnston Press Stake (ALLISS)
22 Oct 2018 - Custos Group Raises Johnston Press Stake To 25% In Deal (ALLISS)
19 Oct 2018 - Johnston Press puts itself up for sale
11 Oct 2018 - Debt-Laden Scotsman Publisher Johnston Press Puts Itself Up For Sale
11 Oct 2018 - WINNERS & LOSERS SUMMARY: Johnston Press Drops 20% On Revenue Decline
29 Aug 2018 - Johnston Press revenue dented by Google and Facebook changes
29 Aug 2018 - Alex Salmond Dropped From Johnston Press Takeover Plans
27 Jul 2018
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