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28 Jul 2008 17:01
Cyril Sweett Group plc (the "Company")
28 July 2008
Award of shares under the Share Incentive Plan
The Company announces today that it received notification that during the quarterly accumulation period ended 30 June 2008, Cyril Sweett Trustee Company Limited, trustee of the HMRC approved Cyril Sweett All Employee Share Ownership Plan ("SIP") transferred 193,807 of the Company's ordinary shares of 10 pence each ("Ordinary Shares") to participants leaving the plan.
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 plan. During a quarterly accumulation period, eligible participating employees contribute funds to purchase partnership shares which are matched on a two for five basis. Dividends in respect of shares held by the SIP are re-invested to purchase dividend shares.
Following the end of the quarterly accumulation period ended 30 June 2008, 262,118 Ordinary shares were awarded to participants in the plan on 1 July 2008, following which Cyril Sweett Trustee Company Limited holds 9,083,178 Ordinary Shares.
Directors in the Company who are beneficiaries of the SIP and their respective beneficial ownership of shares in the Company, before and after this quarterly appropriation are as follows:
|
Prior to the quarterly appropriation |
Following the quarterly appropriation |
|||
|
Name |
Number of shares |
% |
Number of shares |
% |
|
MrM J G Henderson |
210,899 |
0.37 |
211,666 |
0.37 |
|
MrF R Ives |
2,660,083 |
4.66 |
2,660,850 |
4.66 |
|
MrM Kemsley |
1,012,767 |
1.78 |
1,013,534 |
1.78 |
|
MrR S Mabey |
210,422 |
0.37 |
211,188 |
0.37 |
|
MrD R Pitcher |
1,435,579 |
2.52 |
1,436,346 |
2.52 |
|
MrD L Webster |
852,406 |
1.49 |
853,174 |
1.50 |
|
Total |
6,382,156 |
11.19 |
6,386,758 |
11.20 |
As at the date of this announcement, the Company's issued share capital consists of 57,059,105 Ordinary Shares with voting rights and the Company holds 480,690 Ordinary shares in Treasury.
For further information, call:
Cyril Sweett Group plc 0207 061 9386
James Murray, Company Secretary
Brewin Dolphin Investment Banking 0845 270 8610
Andrew Kitchingman
Sean Wyndham-Quin
ENDS
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