Section 430 (2A) Companies Acts notifications

The following information is provided in Accordance with Section 430 (2B) of the Companies Act 2006.

It is confirmed that Steve Ashmore has left the business, following the announcement on 19th October 2016 that he was stepping down as a director of the company.

The Board Remuneration Committee treated Mr Ashmore in accordance with his Service Agreement and the terms of the company Remuneration Policy. It decided that Mr Ashmore would receive the following:

  1. £330,000 being an amount equal to one year’s salary (excluding benefits) which represents his contractual notice period.
  2. The sum of £80,000 representing a payment for loss of office.
  3. Under the PSP 2012 scheme, Mr Ashmore was to be treated as a good leaver pursuant to the rules of the scheme and his options (256,402 at date of grant) would be treated in accordance with the scheme rules having been pro-rated to his leaving date .

Mr Ashmore would receive no other payment in respect of any other contractual benefits, other than the provision of private health care cover for the shorter of 12 months or until he secured alternative cover with a new employer.

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