SSP float gives Kate Swann an upper crust pay packet

Michael Bow
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Kate Swann now has shares in SSP worth £10m
Upper Crust owner SSP rose on its London stock market debut yesterday, helping net chief executive Kate Swann a multi-million 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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