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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Meriden Grp | LSE:MRD | London | Ordinary Share | GB0032888470 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.04 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Meriden Group PLC 24 March 2006 Meriden Group plc ("Meriden" or "the Company") Response to the Chancellors Budget and change in government policy As announced in the Chancellors budget statement yesterday, the decision was made to implement a change in the Governments policy and remove the benefits under tax efficient payroll based deferred computer purchase agreements commonly known as the Home Computer Initiative ("HCI") schemes from 6th April 2006. Meriden would like to respond by stating that it is clearly disappointed and surprised by this sudden change in policy and would urge the Government to reconsider the change. As previously announced the Company has already been involved in a number of HCI schemes and a significant number of potential contracts were currently under negotiation. The Company would like to reassure shareholders that Meriden will continue to fulfil its commitments under pre-existing contracts. However, Meriden are seeking clarification that those schemes that have been contracted prior to 6th April, but not yet executed, can still be performed under the outgoing legislation. Unless there is a reversal in the announced intention to cease with HCI schemes, those schemes agreed, but not yet contracted, are almost certain to now be aborted by the employer. A spokesman for HM Treasury stated "We considered that (HCI) had basically served its purpose and over a number of years it had led to a very large increase in the number of employees who are now IT literate and that was always our objective." He said the government would now be concentrating on IT literacy for people on low incomes and the elderly. Obviously Meriden and other HCI providers will be challenging decision as this appears at odds with the government's main aim of increasing IT literacy across the population generally.. The directors will continue to monitor all news items regarding the change of the HCI policy and will endeavour to keep shareholders informed to any changes that may be of importance to the Company and its shareholders. Enquiries James Brinton 01562 701600 Company Secretary James.brinton@meriden-group.co.uk Jonathan Wright 020 7107 8000 Seymour Pierce Limited This information is provided by RNS The company news service from the London Stock Exchange END NRAPUUPGWUPQGWC
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