Directors' remuneration report


This report to shareholders covers:

  • the policy under which the executive directors, the Chairman and the non-executive directors are remunerated; and
  • details of the remuneration, fees and share interests of the directors.

It provides the information required by the Director’s Remuneration Report Regulations 2002 (the Regulations) and describes how the Company applies the principles of the Combined Code in relation to executive director’s remuneration. The Company confirms that it complies with the requirements of the Combined Code.

The report was approved by the remuneration committee (the committee) on February 10, 2009 and was signed on the Board’s behalf by Helen Alexander CBE as the chairman of the committee. A resolution will be put to shareholders at the Annual General Meeting on April 30, 2009 inviting them to approve this report.