Purchase of Shares by Employee Benefit Trust

RNS Number : 3602E

ScS Group PLC

08 February 2018

 

8 February 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 7 February 2018, the Group's Employee Benefit Trust (the "Trust") purchased 7,157 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 218 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 vest on the 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 239,997 Ordinary Shares representing 0.6% of the Group's current issued share capital. 

Enquiries:

ScS Group PLC David Knight, Chief Executive Officer Chris Muir, Chief Financial Officer	c/o Buchanan [phone]
Buchanan Richard Oldworth Madeleine Seacombe	Tel: [phone] [e-mail]
Shore Capital Patrick Castle	Tel: [phone]

Dru Danford

 

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