REG - ScS Group plc - Purchase of Shares by Employee Benefit Trust

SCSAnnouncement

22/05/2018 12:45

RNS Number : 8994O
ScS Group PLC
22 May 2018
 






 


22 May 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 20 April 2018, the Group's Employee Benefit Trust (the "Trust") purchased 19,861 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 210 pence per Ordinary Share (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 awards at the time of the IPO, which vested 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.
 
The Trust holds 125,573 Ordinary Shares representing 0.3% of the Group's current issued share capital. 
 
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




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