ScS Group PLC Purchase of Shares by Employee Benefit Trust (4607C)

TIDMSCS

RNS Number : 4607C

ScS Group PLC

22 January 2018

 
   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                    c/o Buchanan +44 (0)20 
  David Knight, Chief Executive    7466 5000 
  Officer 
  Chris Muir, Chief Financial 
  Officer 
 Buchanan                         Tel: [phone] 
  Richard Oldworth                 5000 
  Madeleine Seacombe               [e-mail] 
 Shore Capital                    Tel: [phone] 
  Patrick Castle                   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       Initial Notification 
       /Amendment 
---  -------------------------  ---------------------------------- 
 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              Ordinary shares in ScS Group 
       the financial               plc 
       instrument, type            GB00BRF0TJ56 
       of instrument 
       Identification 
       code 
---  -------------------------  ---------------------------------- 
 b)   Nature of the              Sale of shares by Parlour 
       transaction                Products Holdings (Lux) S.à 
                                  r.l 
---  -------------------------  ---------------------------------- 
 c)   Price(s) and volume(s)       Price(s)      Volume(s) 
                                   ------------  --------------- 
                                    212.5 pence   517,136 shares 
                                   ------------  --------------- 
---  -------------------------  ---------------------------------- 
 d)   Aggregated information      N/A (single transaction) 
       - Aggregated volume 
       - Price 
---  -------------------------  ---------------------------------- 
 e)   Date of the transaction    19 January 2018 
---  -------------------------  ---------------------------------- 
 f)   Place of the transaction   London Stock Exchange 
---  -------------------------  ---------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHFMGZMNMNGRZM

(END) Dow Jones Newswires

January 22, 2018 02:00 ET (07:00 GMT)