ScS Group PLC Purchase of Shares by Employee Benefit Trust (4607C)
22 January 2018 - 6:00PM
UK Regulatory
TIDMSCS
RNS Number : 4607C
ScS Group PLC
22 January 2018
22 January 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 19 January 2018, the Group's
Employee Benefit Trust (the "Trust") purchased 517,136 ordinary
shares of 0.1 pence each in the Company ("Ordinary Shares") at a
price of 212.5 pence per Ordinary Share from Parlour Products
Holdings (Lux) S.à r.l ("Parlour") (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 management awards at the time of the IPO, which vest
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.
Following the Purchase, the Trust holds 517,136 Ordinary Shares
representing 1.29% of the Group's current issued share capital and
Parlour holds 16,103,024 Ordinary Shares, representing 40.2% of the
Group's current issued share capital.
As the Purchase is from Parlour, a substantial shareholder of
ScS under Chapter 11 of the Listing Rules and in which Mr Daccus, a
director of the Company, is interested, it falls within Listing
Rule 11.1.10R as a smaller related party transaction.
Enquiries:
ScS Group PLC c/o Buchanan +44 (0)20
David Knight, Chief Executive 7466 5000
Officer
Chris Muir, Chief Financial
Officer
Buchanan Tel: +44 (0)20 7466
Richard Oldworth 5000
Madeleine Seacombe scs@buchanan.uk.com
Shore Capital Tel: +44 (0)207 408
Patrick Castle 4050
Dru Danford
The notification below is provided in accordance with the
requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------------
a) Name Paul Daccus
--- ------------------------- ----------------------------------
2 Reason for the notification
--- -------------------------------------------------------------
a) Position/status Non-Executive Director -
Interested in Parlour Products
Holdings (Lux) S.à r.l
--- ------------------------- ----------------------------------
b) Initial notification Initial Notification
/Amendment
--- ------------------------- ----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------
a) Name ScS Group plc
--- ------------------------- ----------------------------------
b) LEI 213800LOXNVJIB4C7B98
--- ------------------------- ----------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- -------------------------------------------------------------
a) Description of Ordinary shares in ScS Group
the financial plc
instrument, type GB00BRF0TJ56
of instrument
Identification
code
--- ------------------------- ----------------------------------
b) Nature of the Sale of shares by Parlour
transaction Products Holdings (Lux) S.à
r.l
--- ------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------ ---------------
212.5 pence 517,136 shares
------------ ---------------
--- ------------------------- ----------------------------------
d) Aggregated information N/A (single transaction)
- Aggregated volume
- Price
--- ------------------------- ----------------------------------
e) Date of the transaction 19 January 2018
--- ------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange
--- ------------------------- ----------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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