KCOM Group Plc. (KCOM.L) announced it has entered a close period, ahead of its preliminary results announcement for the year ended 31 March 2013. The Board confirmed that trading has remained in line with market expectations.
The preliminary results will be released on 11 June 2013 and will include, as previously stated, an update on the Group's future dividend policy.
The Group also announced also that it has reached an agreement with the Trustees of its Defined Benefit Pension Schemes to create an asset backed Partnership, providing the Group with an efficient mechanism of funding the Schemes' current deficit position.
The Group has transferred into the Partnership its interest in certain freehold properties, entitling the Schemes to an annual income distribution of 1.05 million pounds, rising in line with the Consumer Price Index or CPI, over a potential period of 15 years. The total value of this income distribution to the Schemes is 10.0 million pounds, which the Company anticipates will attract full corporation tax relief for the year ending 31 March 2013.
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