22 Jan 2018 07:00
| 22 January 2018 |
ScS Group plc
("ScS", or the "Group")
Purchase of Shares by the Group's Employee Benefit Trust
ScS, one of the UK's largest retailers of upholstered furniture and floorings, confirms that on 19 January 2018, the Group's Employee Benefit Trust (the "Trust") purchased 517,136 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 212.5 pence per Ordinary Share from Parlour Products Holdings (Lux) S.à r.l ("Parlour") (the "Purchase").
The purpose of the Trust is to hold Ordinary Shares in trust in connection with the Group's share incentive schemes. This purchase is to satisfy management awards at the time of the IPO, which vest on 21 January 2018. The Trust has waived any dividends which it may be entitled to receive in respect of Ordinary Shares held by it, and has also agreed to waive voting rights to such shares.
Following the Purchase, the Trust holds 517,136 Ordinary Shares representing 1.29% of the Group's current issued share capital and Parlour holds 16,103,024 Ordinary Shares, representing 40.2% of the Group's current issued share capital.
As the Purchase is from Parlour, a substantial shareholder of ScS under Chapter 11 of the Listing Rules and in which Mr Daccus, a director of the Company, is interested, it falls within Listing Rule 11.1.10R as a smaller related party transaction.
Enquiries:
ScS Group PLC David Knight, Chief Executive Officer Chris Muir, Chief Financial Officer
| c/o Buchanan +44 (0)20 7466 5000 |
Buchanan Richard Oldworth Madeleine Seacombe
| Tel: +44 (0)20 7466 5000 scs@buchanan.uk.com |
Shore Capital Patrick Castle | Tel: +44 (0)207 408 4050
|
Dru Danford
The notification below is provided in accordance with the requirements of the EU Market Abuse Regulation.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
|
Paul Daccus | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Non-Executive Director - Interested in Parlour Products Holdings (Lux) S.à r.l
| ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| ScS Group plc | ||||
b)
| LEI
| 213800LOXNVJIB4C7B98 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares in ScS Group plc
GB00BRF0TJ56 | ||||
b)
| Nature of the transaction
| Sale of shares by Parlour Products Holdings (Lux) S.à r.l
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| ||||
e)
| Date of the transaction
| 19 January 2018 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||