News Column

SSP float gives Swann an upper crust pay packet

July 11, 2014


UPPER Crust owner SSP rose on its London stock market debut yesterday, helping net chief executive Kate Swann a multimillion pound payday.

The group saw shares jump from a listing price of 210p to close at 215.75p after informal trading of the stock, a 2.75 per cent rise.

Income fund managers such as Artemis, Old Mutual and JP Morgan Asset Management bought into the stock after SSP promised investors a chunky dividend of 30 to 40 per cent of underlying profit.

Former WH Smith CEO Swann will get a 1.35m bonus for helping bring SSP to market and 1.15m shares worth 2.4m.

She will also own one per cent of the firm's stock following the listing, which is now worth nearly 10m. Swann will be paid 750,000 a year salary.

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Source: City A.M. (UK)

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