| Updated:
SSP float gives Kate Swann an upper crust pay packet
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.