Remuneration report
Audited information
Directors’ remuneration
The following table shows Directors’ pre-tax remuneration during the years ending March 2008 and 2007. It includes bonuses but excludes pensions which are shown separately.
| Salaries/ fees £’000 |
Taxable benefits £’000 |
Bonuses £’000 |
Total 2008 £’000 |
Total 2007 £’000 |
|
|---|---|---|---|---|---|
| M Abrahams | 150 | – | – | 150 | 150 |
| M Fallen | 371 | 31 | 165 | 567 | 766 |
| P Simpson | 230 | 21 | 86 | 337 | 411 |
| K Walsh | 184 | 17 | 168 | 369 | 356 |
| N Gower | 179 | 21 | 114 | 314 | 358 |
| P Renucci1 | 62 | 6 | 14 | 82 | – |
| P Halls1 | 136 | 22 | 22 | 180 | 386 |
| J Carrington | 44 | – | – | 44 | 40 |
| S Christie1 | 29 | – | – | 29 | 40 |
| B Halbert | 44 | – | – | 44 | 23 |
| G Holden1 | 16 | – | – | 16 | N/A |
| G Wilson1 | 8 | – | – | 8 | 30 |
| J Robinson1 | 8 | – | – | 8 | 13 |
| C Page | – | – | – | – | 20 |
| Total | 1,461 | 118 | 569 | 2,148 | 2,593 |
1 Part period only (details of appointment/resignation dates are shown in the Service Contracts table)
Bonuses disclosed above include an amount in respect of the 2005 LTIP scheme which vested in April 2008. These amounts are £65,000 in respect of Malcolm Fallen and £30,000 in respect of the other Executive Directors serving throughout the year. Paul Renucci’s entitlement under the scheme was £10,000 and is disclosed pro-rata from the date of his appointment to the Board. The award is payable partly in cash and partly in shares with the cash element payable in July 2008 and the shares element in July 2009.
During the year Paul Renucci was contractually entitled to a guaranteed bonus of £30,000 under the annual bonus scheme, which has been disclosed pro-rata from the date of his appointment to the Board.
Summary of total remuneration
| 2008 £’000 |
2007 £’000 |
|
|---|---|---|
| Short term employment benefits | 2,148 | 2,593 |
| Post employment benefits | 298 | 272 |
| Share based payments | 66 | 2 |
| 2,512 | 2,867 |