Deferred consideration

11 Jan 2010 16:38

Cyril Sweett Group plc ('Cyril Sweett' or 'the Group')

11 January 2010

Deferred consideration

Under the terms of the sale and purchase agreement for the acquisition of Burns Bridge Holdings Pty Limited ("Burns Bridge"), dated 27 March 2008, Cyril Sweett agreed to make deferred consideration payments to the vendors of Burns Bridge provided that certain performance related targets were achieved.

Accordingly, Cyril Sweett is pleased to announce that a further 328,153 ordinary shares of 10p each in the Company (the 'Ordinary Shares') have been transferred to the vendors of Burns Bridge from shares previously held by the Company in Treasury.

Following this transaction Cyril Sweett's capital consists of 57,582,328 Ordinary Shares and the Group holds 100,501 Ordinary Shares in Treasury. As a result, the total number of voting rights in Cyril Sweett is 57,481,827.

For further enquiries please contact: 

Cyril Sweett Group plc

Francesca Wilson, Company Secretary 0207 061 9053

Brewin Dolphin Investment Banking 0845 270 8613

Andrew Kitchingman

Sean Wyndham-Quin

Ends.