Statement re Pension Scheme
24 Februar 2005 - 1:49PM
UK Regulatory
RNS Number:0024J
Feedback PLC
24 February 2005
Feedback plc
Statement re Pension Scheme
The Board is pleased to announce that it has today received a determination from
the Occupational Pensions Regulatory Authority ("OPRA") in relation to the
Company's defined benefit pension scheme (the "Scheme"), which was closed to new
entrants and to future benefits accruals on 31 July 2004.
The Company made an application to OPRA in March 2004 to extend the period
required to address the serious shortfall in the funding of the Scheme. OPRA
has considered the Company's application and concluded that the period for the
Scheme to meet the serious shortfall should be extended to 31 March 2010 and the
period for the Scheme to meet the minimum funding requirement should be extended
to 31 March 2020.
The effect of this determination is that the Company can now reduce the
contributions payable to the Scheme to #521,400 per annum.
The Directors are very pleased with this positive outcome which puts a period of
uncertainty behind the Company.
24 February 2005
Enquiries:
David Sawyer 01892 653322
Chief Executive
Feedback plc
Philip Davies
Charles Stanley & Co. Limited 020 7953 2457
This information is provided by RNS
The company news service from the London Stock Exchange
END
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