REG - Robinson PLC - Defined Benefit Pension Scheme Buy-out

RobinsonAnnouncement

11/09/2024 07:00

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RNS Number : 6595D  Robinson PLC  11 September 2024

Robinson
plc

11 September 2024

 

DEFINED BENEFIT PENSION SCHEME BUY-OUT

 

Robinson plc ("Robinson", the "Company" or the "Group" stock code: RBN), the
custom manufacturer of plastic and paperboard packaging based in Chesterfield,
is pleased to announce that the Robinson & Sons' Limited Pension Fund (the
"Scheme") has now completed the previously announced buy-out of all the
Group's UK defined benefit pension scheme liabilities with Legal and General
Assurance Society Limited ("L&G").

The Scheme and Company have received confirmation that, as of 9 September
2024, L&G have established individual policies for all members. Individual
policy documents will be issued to members in due course.

The IAS 19 valuation of the Scheme at 31 December 2023 reported a surplus of
£3.6m, of which £3.4m was transferred to L&G to augment members
pensions. The remaining £0.2m will fund the costs of the buy-out and wind up
of the Scheme.

A notice to Creditors and Beneficiaries under Section 27 of the Trustee Act
1925 has been published in the London Gazette, confirming that the Trustee
intends to wind up the Scheme.

 

 Robinson plc                                   www.robinsonpackaging.com (http://www.robinsonpackaging.com)
 Sara Halton, Interim CEO                       Tel: 01246 389280

 Mike Cusick, Finance Director

 Cavendish Capital Markets Limited
 Ed Frisby / Seamus Fricker, Corporate Finance  Tel: 020 7220 0500

 Tim Redfern, Corporate Broking

 

About Robinson:

 

Being a purpose-led business, Robinson specialises in custom packaging with
technical and value added solutions for food and consumer product hygiene,
safety, protection, and convenience; going above and beyond to create a
sustainable future for our people and our planet. Its main activity is in
injection and blow moulded plastic packaging and rigid paperboard luxury
packaging, operating within the food and beverage, homecare, personal care and
beauty, and luxury gift sectors. Robinson provides products and services to
major players in the fast-moving consumer goods market including Procter &
Gamble, Reckitt Benckiser, SC Johnson and Unilever.

 

Headquartered in Chesterfield, UK, Robinson has plants in the UK, Poland and
Denmark. Robinson was formerly a family business with its origins dating back
to 1839, currently employing nearly 400 people. The Group also has a
substantial property portfolio with development potential.

 

 

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