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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Howden Joinery Group Plc | LSE:HWDN | London | Ordinary Share | GB0005576813 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.00 | 0.34% | 873.00 | 873.00 | 873.50 | 874.50 | 860.00 | 861.50 | 156,307 | 10:54:10 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Household Furniture, Nec | 2.31B | 254.6M | 0.4640 | 18.83 | 4.79B |
TIDMHWDN
RNS Number : 8947S
Howden Joinery Group PLC
28 June 2018
28 June 2018
Howden Joinery Group Plc
Pension Scheme Funding
Howden Joinery Group plc (the "Company") is pleased to announce that it has reached agreement with the Trustees of its defined benefit pension scheme in relation to the schedule of payments required to fund the scheme deficit. It is agreed that it will make annual deficit contributions of GBP30m per annum for up to five years until June 2023. The Company's annual deficit contribution was previously GBP35m per annum.
The funding position will be monitored on an ongoing basis, and deficit contributions will be suspended should the scheme's funding position improve to at least 100 percent of the scheme's funding basis for two consecutive months and resumed if the funding position subsequently falls back below 100 percent.
The agreement will result in a contribution to the pension deficit in the current financial year ending 29 December 2018 of GBP27.5m due to an interim bridging deficit contribution of GBP25m being paid during the year to June 2018.
This agreement follows the triennial actuarial valuation of the scheme as at 5 April 2017.
Enquiries
Investors/analysts:
Paul Sharma
Head of Investor Relations + 44 (0) 20 7535 1164/+44 (0) 7585 992943
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
June 28, 2018 05:00 ET (09:00 GMT)
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