Business
Pension Liability Reduction
Pension Liability Reduction.
About this update from Sanderson Design Group Plc
[{"type":"text","content":"\n Walker Greenbank PLC\n07 December 2005\n\n\nFor immediate release 7 December 2005\n\n\n\n WALKER GREENBANK PLC\n ('Walker Greenbank' or 'the Company')\n\n\n Statement regarding the Company Pension Liability Reduction Exercise\n Shareholder Funds improved by £3 million at first deadline\n\n\n\nWalker Greenbank PLC (AIM: WGB), the wallpaper, textiles and furnishings\nbusiness whose brands include Sanderson, Morris & Co, Harlequin and Zoffany,\nannounces that on 31 October 2005 the Company offered all current and deferred\npensioners of the Walker Greenbank Pension Plan a cash payment in lieu of\nnon-statutory increases to their pensions.\n\n\n\nMembers have until 31 January 2006 to respond to the Company's proposals but\nhave been given the opportunity to accept the offer at three deadlines: at the\nend of November 2005, December 2005 and January 2006. The Company wishes to\ninform shareholders that the level of acceptance at the first deadline, 31\nNovember 2005, will have the impact of improving shareholder funds by\napproximately £3 million.\n\n\n\nShareholders are reminded that the pension liability included in the Company's\n2006 Report and Accounts will incorporate the final effect of this pension\nliability reduction exercise. The ultimate position of the pension liability as\nat 31 January 2006, the Company's year end, will depend on other factors that\nimpact on pension schemes such as investment returns, the level of bond yields\nand any required changes to take account of increases in life expectancy.\n\n\n\n\nFor further information:\n\n\nWalker Greenbank PLC 01908 658089\nJohn Sach, Chief Executive\nJulian Wilson, Company Secretary\n\nTeather & Greenwood 020 7426 9000\nMark Dickenson\nRobert Naylor\n\nBuchanan Communications 020 7466 5000\nMark Court/ Suzanne Brocks/ Elly Williamson\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2321,"tagName":"div"}]