LONDON (Alliance News) - KCOM Group PLC Tuesday said that it is trading in line with expectations for the year ending on March 31.
The communications company said it had reached an agreement with the trustees of its defined benefit pension schemes to provide further funding to the scheme through an asset backed partnership, which it established during the previous year.
The total value of this funding will be GBP16.0 million. Further details of this, and the scheme's deficit repair plan, will be revealed at the time of the full-year results, it said.
KCOM is looking to appoint an additional non-executive director, as Executive Chairman Bill Halbert is moving to the role of chief executive as of April 1, and Independent Non-Executive Director Graham Holden will step up into the position of non-executive chairman.
The company will release its full-year results on June 6.
Shares in KCOM were trading flat at 99.43 pence Tuesday morning, shortly after market open.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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