The following report from, and the recommendations of,
the remuneration committee have been approved without
amendment by the board for submission to shareholders.
Other than as is specifically indicated in this report, the
remuneration committee intends to apply identical policies to
each component of executive director remuneration as in the
year under review.
Throughout the year under review, the company complied with
the provisions of Schedule A of the Combined Code published
in June 1998 relating to the design of performance-related
remuneration (except where noted below). In preparing this report,
the board has followed the provisions of Schedule B of the
Combined Code. The contents of this report also comply with
the Directors’ Remuneration Report Regulations 2002.
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