Sale of Pension Scheme Shares

20 Jul 2007 14:43

Cropper(James) PLC20 July 2007 Issued by Citigate Dewe Rogerson Ltd, BirminghamDate: 20 July 2007 Immediate Release 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 in conjunction with its Advisers. The aim of the review was to align the Scheme's assets with the changing ageprofile of its membership resulting from the closure of the Scheme to newmembership in 1999. As a result of this review the Trustees have embarked upon aStrategy that will progressively increase the proportion of its funds held inbonds with a consequent reduction in equities. The Company was notified on 20 July 2007 that the Scheme had sold 50,000ordinary shares of 25 pence each in the Company ("Ordinary Shares") at a priceof 240 pence per Ordinary Share. Following this disposal the Scheme now holds131,000 Ordinary Shares representing 1.55% per cent of the Company's issuedordinary share capital. Executive Directors of the Company, Mr John Malcolm Denman and Mr Nigel AnthonyRead are Trustees of the Scheme and are therefore deemed to have anon-beneficial interest in the Scheme. Enquiries:Alun Lewis, Chief Executive Fiona Tooley, DirectorJames Cropper PLC Keith Gabriel, Senior Account Manager Citigate Dewe RogersonIan Valentine, Tel: 0121 455 8370Trustee,James Cropper PLC Pension SchemeTel: 01539 722002www.cropper.com Ifor Williams, Director Brewin Dolphin Securities Limited Telephone: 0121 236 7000 This information is provided by RNS The company news service from the London Stock Exchange