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BRIEF-STV Group says reached agreement with defined benefits pension schemes trustees
December 20, 2016 / 11:24 AM / 9 months ago

BRIEF-STV Group says reached agreement with defined benefits pension schemes trustees

Dec 20 (Reuters) - STV Group Plc :

* Agreement reached with trustees of company’s defined benefits pension schemes for 1 Jan 2015 triennial actuarial funding valuations, recovery plans

* 2017 payment will total 8.6 mln stg with annual payments increasing at rate of 2 pct per annum over term of plan.

* Next triennial valuation will take place as at 1 January 2018

* Deficit on an actuarial basis was 129.9 mln stg on a pre tax basis at 30 November 2016 compared to 83.0 mln stg on a pre tax basis at previous settlement date of 31 March 2014

* An 11 year recovery plan has been agreed with monthly payments commencing in January 2017. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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