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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ceps Plc | LSE:CEPS | London | Ordinary Share | GB00B86TNX04 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 17.50 | 15.00 | 20.00 | 17.50 | 17.50 | 17.50 | 0.00 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Fabricated Rubber Pds, Nec | 26.45M | 460k | 0.0219 | 7.99 | 3.68M |
From Apr 2019 to Apr 2024
TIDMCEPS
RNS Number : 5384M
CEPS PLC
31 July 2017
CEPS PLC
("CEPS" or the "Company")
Transfer of Pension Scheme
The Board of CEPS announces that with effect from 28 July 2017 it has transferred the Dinkie Heel Defined Benefit Pension Scheme from Davies Odell Limited to CEPS plc. This is an intra group transfer and there is no change in the overall liability of the CEPS Group. CEPS plc is the existing guarantor of the scheme.
The scheme is currently undergoing a triennial valuation which will be completed after the transfer. The last formal actuarial valuation was at 1 July 2013 and showed that the total value of the scheme assets was GBP3,621,000 and that the level of funding on an ongoing basis was 88%. At 1 October 2014 the Group agreed a recovery plan of GBP4,550 per month, an amount intended to restore a 100% funding level over ten years. In the Company's Report and Accounts for the year ended 31 December 2016, the fair value of the scheme assets was GBP4.065m as compared to the present value of defined benefit obligations of GBP3.894m.
The transfer will simplify management of the fund and is also likely to result in reduced administration fees.
This announcement contains inside information for the purpose of Article 7 of EU Regulation 596/2014.
Enquiries
CEPS PLC David Horner, Chairman +44 1225 483030 Cairn Financial Advisers LLP Tony Rawlinson, James Caithie, Richard +44 20 7213 Nash 0880
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUASVRBWABORR
(END) Dow Jones Newswires
July 31, 2017 02:01 ET (06:01 GMT)
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