Radstone Technology PLC
22 June 2006
Immediate Release 22 June 2006
Radstone Technology PLC
Pensions
Following extensive consultation with the trustees of its defined benefit
pension schemes, Radstone Technology today informed employee members of the
schemes of its intention to cease accrual of further years of pensionable
service from 31 March 2007. The schemes' link to final salary will remain in
place
An alternative defined contribution scheme will be established under the current
trusts, which all members of the existing schemes will be invited to join. In
addition, the Company will make a £1.7m payment into the fund in the current
financial year, towards the objective of eliminating the pension deficit over
the next 10 years. The pension deficit measured under IAS19 was £6.6m net of
deferred tax at 31 March 2006.
For further information:
Radstone Technology 01327-359444
Jeff Perrin, Chief Executive Web: http://www.radstone.co.uk
Kevin Boyd, Group Finance Director
Buchanan Communications 020 7466 5000
Tim Thompson or Nicola Cronk Email : nicolac@buchanan.uk.com
This information is provided by RNS
The company news service from the London Stock Exchange