Cropper (J) Regulatory News (CRPR)

20 Dec 2005 09:20

Cropper(James) PLC20 December 2005 James Cropper PLC ("the Company") Sale of shares by James Cropper PLC Pension Scheme ("the Scheme") In late 2004 the trustees of the Scheme undertook a review of the Scheme'sInvestment Strategy inconjunction with its advisers. The aim of the review wasto align the Scheme's assets with the changing age profile of its membershipresulting from the closure of the Scheme to new membership in 1999. As a resultof this review the trustees have embarked upon a Strategy that willprogressively increase the proportion of its funds held in bonds with aconsequent reduction in equities. The Company was notified on 19 December 2005 that the Scheme had sold 50,000ordinary shares of 25 pence each in the Company ("Ordinary Shares") at a priceof 185 pence per Ordinary Share. Following this disposal the Scheme now holds241,000 Ordinary Shares representing 2.9 per cent of the Company's issuedordinary share capital. Two executive directors Mr John Malcolm Denman and Mr Nigel Anthony Read aretrustees of the Scheme and are therefore deemed to have a non-beneficialinterest in the Scheme. 20 December 2005 This information is provided by RNS The company news service from the London Stock Exchange