IN BRIEF: Sanderson Design pays GBP2.3 million to remove pension risk

Sanderson Design Group PLC - London-based interior design and furnishings - Strikes agreement with trustees of the smaller of its two legacy pension schemes, Abaris Holdings Ltd Pension Scheme, to transfer the defined-benefit scheme's risks to an insurer, which it doesn't name. Sanderson will pay GBP2.3 million in cash under a buy-in insurance policy, funded from existing resources. Sanderson will continue to pay the scheme's administration and advisory costs over the life of the scheme, and this is estimated at GBP700,000 in total. However, the removal of risk means Sanderson will not have to fund any shortfalls to the scheme that result from market movements to investments. The legacy scheme has been closed to new entrants since 2005.

Current stock price: 101.00 pence

12-month change: down 21%

By Tom Waite, Alliance News editor

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Sanderson Design Group