for the year ended 31 March 2001

Directors' Remuneration and Shareholdings

Emoluments

The aggregate emoluments, excluding pensions, of the Directors of the Company who served during the year were as follows:

 
2001
£000
2000
£000
Executive Directors' emoluments
740
1,108
Performance related bonuses
268
218
Fees of Non-Executive Directors
107
79
Aggregate emoluments
1,115
1,405
Aggregate gains on exercise of share options
1,595
3,301

 

The Remuneration report in the Annual Report on pages 30 to 31 discloses the basis on which Directors' remuneration is determined.

The following table shows an analysis of the remuneration (excluding pensions) of the individual Executive Directors and fees of the individual Non-Executive Directors accrued during the financial year:

 

Annual
Salary/Fees
£000

Bonus and
Profit Share
£000
Benefits(4)
£000
Total(5)
£000
 
2001
2000
2001
2000
2001
2000
2001
2000
Sir Alan Rudge(6)(12)
111
101
2(1)
-
17
17
130
118
BS Hutt(13)
-
108
-
-
-
16
-
124
DS James(7)
49
202
130
-(2)
8
18
187
220
RD Jarvis (14)
-
93
-
75
-
14
-
182
MME Jeffries
313
247
64(1)(3)
86
14
12
391
345
RJ Piper
202
187
72(1)(3)
32(1)
14
14
288
233
D Slater (15)
-
73
-
25
-
6
-
104
RS Southwell (8)
9
-
-
-
3
-
12
-
Total Executive Directors
684
1,011
268
218
56
97
1,008
1,326
FA Heaton
33
30
J Morley
6
-
DDS Robertson
16
-
Sir William Ryrie
25
24
RW Umney
27
25
Fees to Non-Executive Directors
107
79
Aggregate emoluments (excluding pension)
1,115
1,405

 

(1) Bonus and profit share refers to amounts payable in cash. Certain Directors have stated that they would wish to take bonuses if earned, in shares under the provisions of the Equity Participation Plans detailed in the Remuneration report in the Annual Report on pages 30 to 31.

(2) Bonus was waived.

(3) Represents balance of bonus after 50% was applied to the Equity Participation Plan.

(4) Benefits include such items as company cars, fuel and medical insurance.

(5) Total excludes pension contributions.

(6) Resigned as Director and retired from the Board on 31 March 2001.

(7) Resigned as Director on 22 June 2000 and retired from the Company on 30 September 2000.

(8) Appointed 22 March 2001.

(9) Appointed 1 January 2001.

(10) Appointed 1 August 2000.

(11) In addition, Mr DS James was entitled to, in accordance with the terms of his service agreement a payment of £216,000 and ancillary benefits up to £25,000.

(12) At the Company's request, Sir Alan Rudge agreed to continue in employment for a further year, to advise and assist the Company in respect of ongoing initiatives.

(13) Resigned as a Director on 22 February 2000 and retired from the Company on 31 March 2000.

(14) Resigned as a Director on 1 February 2000 and retired from the Company on 31 March 2000.

(15) Resigned as a Director on 8 October 1999 and retired from the Company on 23 October 1999. Summary Directors' emoluments for the year ended 31 March 2001.

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