퇴직 급여 의무 매입 업데이트
하그리브스 서비스 plc
("하그리브스" 또는 "그룹")
퇴직 급여 의무 매입 업데이트
하그리브스 서비스 plc (AIM: HSP), a diversified group delivering services to the industrial and property sectors, announces that is has completed the buy in (the "Buy In") of the Group's two defined benefit pensions schemes (the "Schemes").
The Board is pleased to announce that the Schemes completed the Buy In transaction with Just Group plc ("Just") on 29 February 2024. The shortfall in the Schemes assets which required funding was £3.7m. After taking into account fees, the impact of GMP equalisation legislation and other potential data cleansing adjustments this could rise to a maximum of £6.6m. This is lower than the previously estimated maximum cost of £9m.
This process means that the member benefits to be paid out upon their retirement are now covered by an insurance policy provided by Just. The Group has made an initial cash payment of £7.7m out of existing cash reserves in order to secure this position. This initial cash payment reflects the shortfall on the Schemes assets of £3.7m, noted above, plus an additional £4.0m in the form of a loan, as some of the property assets held in the Schemes are illiquid. This loan allows the Schemes to purchase the requisite insurance policy. The loan, which will bear interest at a commercial rate, will be repaid to the Group upon the subsequent sale of the underlying assets by the trustees.
The Group has been paying £1.8m in annual deficit reduction contribution payments to the Schemes. The Board announced in the Annual Report and Accounts for the year ended 31 May 2023 the intention to ultimately buy out the Schemes' obligation. The Buy In has removed the need for any further deficit reduction contributions from the Group. However, the obligation (albeit now fully insured) remains with the Group until the buy-out is completed. The buy-out will likely take between 12 to 24 months to complete during which time Just will be undertaking routine data validation checks on the Schemes.
Change of dividend payment date
The interim dividend of 18p which was announced as being payable on the 11 April 2024 in the Interim Statement, will now be paid on the 4 April 2024 to shareholders on the register on 22 March 2024.
Roger McDowell, Non-Executive Chair of Hargreaves, said: "The Buy In represents a significant step forward in the Group's stated strategy of realising value for shareholders. Not only does it further simplify the Group's Balance Sheet, but it also releases annual free cash flow, which will support the sustainability of the recently announced 36p annual dividend."
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하그리브스 서비스 plc | www.hsgplc.co.uk | ||
Gordon Banham, 최고 경영자 | 전화 : 0191 373 4485 | ||
Stephen Craigen, Group Financial Officer |
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Walbrook PR(재무 PR 및 IR) | 전화: 020 7933 8780 또는 [이메일 보호] | ||
Paul McManus/Louis Ashe-Jepson/ | 군중: 07980 541 893/07747 515 393 | ||
샬롯 에드가
| + 07884 664 686 | ||
싱어캐피탈마켓(노마드, Corporate Broker) | 전화 : 020 7496 3000 | ||
Sandy Fraser/Phil Davies/Sam Butcher | |||
Hargreaves 서비스 plc 정보(www.hsgplc.co.uk)
Hargreaves Services plc는 영국과 동남아시아의 핵심 산업을 지원하는 산업 및 부동산 부문에 서비스를 제공하는 다각화된 그룹입니다. 회사의 XNUMX개 사업 부문은 서비스, Hargreaves Land 및 독일 합작 회사인 Hargreaves Raw Materials Services GmbH(HRMS)에 대한 투자입니다. 서비스는 자재 취급, 기계 및 전기 계약 서비스, 물류 및 주요 토목 공사를 통해 에너지, 환경, 영국 인프라 및 특정 제조 산업을 포함한 많은 핵심 산업에 중요한 지원을 제공합니다. Hargreaves Land는 주거용 및 상업용 브라운필드 부지의 지속 가능한 개발에 중점을 두고 있습니다. HRMS는 전문 상품 시장에서 거래하고 철강 폐기물 전문 재활용 업체인 DK Recycling을 소유하고 있습니다. Hargreaves는 Durham 카운티에 본사를 두고 있으며 영국, 홍콩 및 독일 Duisburg에 합작 회사를 두고 운영 센터를 운영하고 있습니다.
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.