Business
Further re: Pensions Update
Further re: Pensions Update.
About this update from Coats Group Plc
[{"type":"text","content":"\n \nRNS Number : 1315X Coats Group PLC 17 February 2017 \n\n17 February 2017\n \nCoats Group plc\n \nFurther re: Cessation of UK Pensions Regulator's regulatory action for two of the three pension schemes\n \n \nFurther to its announcement of 16 December 2016, Coats Group plc (the 'Company'), the world's leading industrial thread manufacturer, today announces that it has signed binding Settlement agreements with the Trustees of the UK Coats Pension Plan and Brunel Holdings Pension Scheme. The Company has received written assurances from the UK Pensions Regulator that on completion of the Settlement its regulatory action will automatically cease in relation to these two schemes under the Warning Notices that it issued to the Company in 2013 and 2014. Following a series of Company determined corporate steps completion will occur by early March 2017.\n \n \n_________________________________________________________________________________________\n \nEnquiry details\nInvestors Rob Mann Coats Group plc +44 (0)20 8210 5175\nMedia Richard Mountain / Nick Hasell FTI Consulting +44 (0)20 3727 1374\n_________________________________________________________________________________________\n \nThis announcement contains inside information for the purposes of the Market Abuse Regulation.\n \nAbout Coats Group plc\nCoats is the world's leading industrial thread manufacturer and a major player in the Americas textile crafts market. At home in some 60 countries, Coats employs 19,000 people across six continents. Revenues in 2015 were US$1.5bn. Coats' pioneering history and innovative culture ensure the company leads the way around the world: providing complementary and value add...