Restore Regulatory News (RST)

22 Jun 2006 12:53

Radstone Technology PLC22 June 2006 Immediate Release 22 June 2006 Radstone Technology PLC Pensions Following extensive consultation with the trustees of its defined benefitpension schemes, Radstone Technology today informed employee members of theschemes of its intention to cease accrual of further years of pensionableservice from 31 March 2007. The schemes' link to final salary will remain inplace An alternative defined contribution scheme will be established under the currenttrusts, which all members of the existing schemes will be invited to join. Inaddition, the Company will make a £1.7m payment into the fund in the currentfinancial year, towards the objective of eliminating the pension deficit overthe next 10 years. The pension deficit measured under IAS19 was £6.6m net ofdeferred tax at 31 March 2006. For further information: Radstone Technology 01327-359444 Jeff Perrin, Chief Executive Web: http://www.radstone.co.uk Kevin Boyd, Group Finance Director Buchanan Communications 020 7466 5000 Tim Thompson or Nicola Cronk Email : nicolac@buchanan.uk.com This information is provided by RNS The company news service from the London Stock Exchange