REG - Christie Group PLC - Closure of final salary pension schemes

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RNS Number : 1324Z  Christie Group PLC  02 April 2026

2 April 2026

 

Christie Group plc

("Christie Group" or the "Company")

 

Closure of final salary pension schemes

 

The Board of Christie Group plc (CTG.L) is pleased to advise that, following
an extended and constructive consultation period with the remaining active
members of its two defined benefit pension schemes, it has now reached
agreement with all those members and the scheme trustees to cease active
membership of both schemes, which will be effective from 6th April 2026. All
affected members will now transfer to their respective employer's defined
contribution pension arrangements.

 

The Group operates two schemes: The Venners plc Retirement Benefits Scheme and
The Christie Group Pension and Assurance Scheme. Both schemes were closed to
new entrants in 1999 and 2000 respectively, but since then have continued to
accrue benefits for a declining number of active members.

 

Both schemes are expected to remain in a fully funded position, with a
significant funding surplus when valued in accordance with the requirements of
IAS 19. The assets of both schemes are invested to provide a hedge against any
material fluctuations in the valuation of scheme liabilities, with the
expectation that neither scheme is therefore at risk of moving into deficit.

 

The Group will now work collaboratively with the trustees with the shared
objective of securing a full buy-in of both schemes, as a prelude to then
achieving a full buy-out which would remove all scheme assets and liabilities
from the Group's balance sheet.

 Dan Prickett, Christie Group Chief Executive Officer commented:

 

"This is another significant step forwards as part of our strategy to build a
stronger, liability-light balance sheet, better equipped to support our
strategic growth ambitions in the coming years. We are delighted to have
concluded a positive and constructive consultation process with the small
number of remaining active members. We will now work with the trustees to
achieve a full buy out of the schemes, with the intention that in doing so we
can even more robustly secure the pension benefits of all deferred and
pensioner members across both schemes.

 

I would like to thank the trustees and the members concerned for their
positive engagement and constructive dialogue throughout the consultation
process."

 

Enquiries:

 

Christie Group plc

Dan
Prickett
07885 813101

Chief Executive

 

Simon Hawkins
 
07767 354366

Chief Financial Officer

Shore Capital

Patrick Castle
 
020 7408 4090

Nominated Advisor and Broker

 

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services
group with 32 offices across the UK and Europe, catering to its specialist
markets in the hospitality, leisure, healthcare, medical, childcare &
education and retail sectors.

 

Christie Group operates in two complementary business divisions: Professional
& Financial Services (PFS) and Stock & Inventory Systems &
Services (SISS). These divisions trade under the brand names: PFS - Christie
& Co, Pinders, Christie Finance and Christie Insurance: SISS - Venners.

 

Tracing its origins back to 1896, the Group has a long-established reputation
for offering valued services to client companies in agency, valuation
services, investment, consultancy, project management, stock audit and
inventory management. The diversity of these services provides a natural
balance to the Group's core agency business.

 

The information contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulations (EU) No.
596/2014.

 

For more information, please go to https://www.christiegroup.com/.

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