ScS Group PLC Purchase of Shares by Employee Benefit Trust (8994O)

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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                    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

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May 22, 2018 07:45 ET (11:45 GMT)