directors report and accounts 2006 - Table 1. Directors' remuneration - audited
Annual Report
and Accounts 2006
| Salary/fees £ | Performance-related pay: annual cash bonus2 £ | Performance-related pay: deferred share bonus2, 3 £ | Benefits in kind4 £ | 2006 Total £ | 2005 Total £ | |
|---|---|---|---|---|---|---|
| J P du Plessis | 520,000 | – | – | 68,524 | 588,524 | 533,743 |
| K H Clarke | 150,000 | – | – | 593 | 150,593 | 154,237 |
| P N Adams | 984,896 | 710,000 | 745,425 | 132,397 | 2,572,718 | 2,118,457 |
| P A Rayner5 | 608,646 | 436,650 | 460,512 | 232,642 | 1,738,450 | 1,443,800 |
| A Monteiro de Castro6 | 835,956 | 482,800 | 504,779 | 213,176 | 2,036,711 | 1,803,123 |
| P E Beyers | 60,000 | – | – | 9,735 | 69,735 | 60,000 |
| R E Lerwill | 75,000 | – | – | 403 | 75,403 | 79,664 |
| A M Llopis | 60,000 | – | – | – | 60,000 | 60,000 |
| R L Pennant-Rea | 60,000 | – | – | – | 60,000 | 68,750 |
| A Ruys1 | 50,000 | – | – | 831 | 50,831 | – |
| Sir Nicholas Scheele | 60,000 | – | – | 8,739 | 68,739 | 50,860 |
| M H Visser | 60,000 | – | – | 6,584 | 66,584 | 82,588 |
| Former Director K S Wong (deceased)1 | – | – | – | – | – | 10,000 |
| Total remuneration | 3,524,498 | 1,629,450 | 1,710,716 | 673,624 | 7,538,288 | 6,465,222 |
Notes:
1 K S Wong died on 16 February 2005; Anthony Ruys was appointed a Director on 1 March 2006.
2 The Remuneration Committee, following its usual procedures, agreed that the performance targets for the year ended 31 December 2006 have been met (subject to confirmation of a figure yet to be published). The Committee agreed that the performance-related bonus payments shown above could, as a consequence, increase or decrease by approximately 1.5 per cent following the publication of the outstanding information which would enable the relevant calculations to be finalised after 1 March 2007. Such changes, if any, will be reported in the Remuneration Report for the year ending 31 December 2007.
3 The deferred share bonus payments include cash sums equivalent to the dividend on the after tax position on all unvested ordinary shares comprised in the awards held by participants (including Executive Directors) in the Deferred Share Bonus Scheme at each dividend record date. For the year ended 31 December 2006, these payments for Executive Directors were as follows: Paul Adams £35,425 (2005: £29,374); Paul Rayner £23,862 (2005: £19,750); and Antonio Monteiro de Castro £21,979 (2005: £18,376).
4 Benefits in kind include: (a) a car or a car allowance; (b) use of a driver; (c) spouse travel and associated expenses for business-related purposes. For Non-Executive Directors these benefits relate to spouse travel only.
5 Paul Rayner’s benefits in kind included payments in respect of family education (£56,344) which followed his relocation to the UK from Australia.
6 Antonio Monteiro de Castro’s benefits in kind included tax advice of £65,424 in respect of his former contractual arrangements up to 1 January 2004 prior to which date he derived his emoluments in both the UK and Brazil.
7 The Directors’ remuneration shown above does not include the illustrative value (as at 23 February 2007) of the Executive Directors’ Long Term Incentive Plan awards made in March 2004 which will vest on 17 March 2007. Reference should be made to Table 3 note 5.