Combined View

Combined View / LR / 9 / 8

LR 9.8.1

20/01/2007

1[deleted]1

LR 9.8.2

20/01/2007

1[deleted]1

LR 9.8.3

20/01/2007

1[deleted]1

Information to be included in annual report and accounts

LR 9.8.4

06/08/2007

FCA

1In addition to the requirements set out in DTR 4.1 a listed company1 must include in its annual financial report1, where applicable, the following:

(1) a statement of the amount of interest capitalised by the group during the period under review with an indication of the amount and treatment of any related tax relief;

(2) any information required by LR 9.2.18 R (Publication of unaudited financial information);

(3) details of any small related party transaction as required by LR 11.1.10 R (2)(c);

(4) details of any long-term incentive schemes as required by LR 9.4.3 R;

(5) details of any arrangements under which a director of the company has waived or agreed to waive any emoluments from the company or any subsidiary undertaking;

(6) where a director has agreed to waive future emoluments, details of such waiver together with those relating to emoluments which were waived during the period under review;

(7) in the case of any allotment for cash of equity securities made during the period under review otherwise than to the holders of the company's equity shares in proportion to their holdings of such equity shares and which has not been specifically authorised by the company's shareholders:

(a) 2 the classes of shares allotted and for each class of shares, the number allotted, their aggregate nominal value and the consideration received by the company for the allotment;2

(b) the names of the allottees, if less than six in number, and in the case of six or more allottees a brief generic description of each new class of equity holder (e.g. holder of loan stock);

(d) the date on which the terms of the issue were fixed;

(8) the information required by paragraph (7) must be given for any unlisted major subsidiary undertaking of the company;

(9) where a listed company has listed shares in issue and is a subsidiary undertaking of another company, details of the participation by the parent undertaking in any placing made during the period under review;

(10) details of any contract of significance subsisting during the period under review:

(a) to which the listed company, or one of its subsidiary undertakings, is a party and in which a director of the listed company is or was materially interested; and

(b) between the listed company, or one of its subsidiary undertakings, and a controlling shareholder;

(11) details of any contract for the provision of services to the listed company or any of its subsidiary undertakings by a controlling shareholder, subsisting during the period under review, unless:

(a) it is a contract for the provision of services which it is the principal business of the shareholder to provide; and

(b) it is not a contract of significance;

(12) details of any arrangement under which a shareholder has waived or agreed to waive any dividends; and

(13) where a shareholder has agreed to waive future dividends, details of such waiver together with those relating to dividends which are payable during the period under review.

LR 9.8.5

01/07/2005

FCA

A listed company need not include with the annual report and accounts details of waivers of dividends of less than 1% of the total value of any dividend provided that some payment has been made on each share of the relevant class during the relevant calendar year.

Additional information

LR 9.8.6

06/06/2011

FCA

In the case of a listed company incorporated in the United Kingdom, the following additional items must be included in its annual 1financial report1:

(1) a statement setting out all the 3 interests (in respect of which transactions are notifiable to the company under DTR 3.1.2 R) 3of each person who 3 is3 a2 director of the listed company 2 2, 3 as at the end of3 the period under review including:

(a) all changes in the 3interests of each director that have occurred between the end of the period under review and a date not more than 2 one month prior to the date of the notice of the annual general meeting; or

(b) if there have been no changes in the period described in paragraph (a), a statement that there have been no changes in the 3 interests of each director3 .3

3 Interests of each director includes the interests of 3 connected persons of which the listed company is, or ought upon reasonable enquiry to become, aware.32

(2) a statement showing4 the interests disclosed to the listed company in accordance with DTR 5 as at the end of the period under review and:4

(a) 2 222 354 all interests disclosed to the listed company in accordance with DTR 5 that have occurred between the end of the period under review and a date not more than one month prior to the date of the notice of the annual general meeting; or4

(b) 4 if no interests have been disclosed to the listed company in accordance with DTR 5 in the period described in (a), a statement that no changes have been disclosed to the listed company.4

(3) a statement made by the directors that the business is a going concern, together with supporting assumptions or qualifications as necessary, that has been prepared in accordance with 6Going Concern and Liquidity Risk: Guidance for Directors of UK Companies 2009, published by the Financial Reporting Council in October 2009;6

(4) a statement setting out:

(a) details of any shareholders authority for the purchase, by the listed company of its own shares that is still valid at the end of the period under review;

(b) in the case of purchases made otherwise than through the market or by tender to all shareholders, the names of sellers of such shares purchased, or proposed to be purchased, by the listed company during the period under review;

(c) in the case of any purchases made otherwise than through the market or by tender or partial offer to all shareholders, or options or contracts to make such purchases, entered into since the end of the period covered by the report, information equivalent to that required under Part 727 of Schedule 7 to the 7Large & Medium Sized Companies and Groups (Accounts and Reports) Regulations 2008 (SI 2008/410) (Disclosure required by company acquiring its own shares etc)7 ; and

(d) in the case of sales of treasury shares for cash made otherwise than through the market, or in connection with an employees' share scheme, or otherwise than pursuant to an opportunity which (so far as was practicable) was made available to all holders of the listed company's securities (or to all holders of a relevant class of its securities) on the same terms, particulars of the names of purchasers of such shares sold, or proposed to be sold, by the company during the period under review;

(5) a statement of how the listed company has applied the 8Main Principles8 set out in the 9 UK Corporate Governance Code9 , in a manner that would enable shareholders to evaluate how the principles have been applied;9

(6) a statement as to whether the listed company has:

(a) complied throughout the accounting period with all relevant provisions set out in the 9 UK Corporate Governance Code;9 or

(b) not complied throughout the accounting period with all relevant provisions set out in the 9 UK Corporate Governance Code 9 and if so, setting out:

(i) those provisions, if any it has not complied with;

(ii) in the case of provisions whose requirements are of a continuing nature, the period within which, if any, it did not comply with some or all of those provisions; and

(iii) the company's reasons for non-compliance; and

(7) a report to the shareholders by the Board which contains all the matters set out in LR 9.8.8 R.

LR 9.8.6A

06/10/2007

FCA

(1) 3The effect of LR 9.8.6 R (1) is that a listed company is required to set out a 'snapshot' of the total interests of a director and his or her connected persons, as at the end of the period under review (including certain information to update it as at a date not more than a month before the date of the notice of the annual general meeting). The interests that need to be set out are limited to those in respect of which transactions fall to be notified under the notification requirement for PDMRs in DTR 3.1.2 R. Persons who are directors during, but not at the end of, the period under review need not be included.

(2) A listed company unable to compile the statement in LR 9.8.6 R (1) from information already available to it may need to seek the relevant information, or confirmation, from the director himself, including that in relation to connected persons, but would not be expected to obtain information directly from connected persons.

LR 9.8.7

06/04/2010

FCA

An overseas company with a10 premium listing10 must 10include 10in its annual report and accounts10 the information in LR 9.8.6R (5), LR 9.8.6R (6) and LR 9.8.8R (9).10101010

LR 9.8.7A

06/04/2010

FCA

(1) 10An overseas company with a premium listing that is not required to comply with requirements imposed by another EEA State that correspond to DTR 7.2 (Corporate governance statements) must comply with DTR 7.2 as if it were an issuer to which that section applies.

(2) An overseas company with a premium listing which complies with LR 9.8.7 R will be taken to satisfy the requirements of DTR 7.2.2 R and DTR 7.2.3 R, but (unless it is required to comply with requirements imposed by another EEA State that correspond to DTR 7.2) must comply with all of the other requirements of DTR 7.2 as if it were an issuer to which that section applies.

Report to shareholders

LR 9.8.8

06/06/2011

FCA

The report to the shareholders by the Board required by LR 9.8.6 R (7) must contain the following:

(1) a statement of the listed company's policy on executive directors' remuneration;

(2) information presented in tabular form, unless inappropriate, together with explanatory notes as necessary on:

(a) the amount of each element in the remuneration package for the period under review of each director, by name, including but not restricted to, basic salary and fees, the estimated money value of benefits in kind, annual bonuses, deferred bonuses, compensation for loss of office and payments for breach of contractor other termination payments;

(b) the total remuneration for each director for the period under review and for the corresponding prior period;

(d) any share options, including Save-as-you-earn options, for each director, by name, in accordance with the requirements of the Directors' Remuneration Report Regulations;

(3) details of any long-term incentive schemes, other than share options as required by paragraph (2)(d), including the interests of each director, by name, in the long-term incentive schemes at the start of the period under review;

(4) details of any entitlements or awards granted and commitments made to each director under any long-term incentive schemes during the period, showing which crystallize either in the same year or in subsequent years;

(5) details of the monetary value and number of shares, cash payments or other benefits received by each director under any long-term incentive schemes during the period;

(6) details of the interests of each director in the long-term incentive schemes at the end of the period;

(7) an explanation and justification of any element of a director's remuneration, other than basic salary, which is pensionable;

(8) details of any directors' service contract with a notice period in excess of one year or with provisions for pre-determined compensation on termination which exceeds one years salary and benefits in kind, giving the reasons for such notice period;

(9) details of the unexpired term of any directors' service contract of a director proposed for election or re-election at the forthcoming annual general meeting, and, if any director proposed for election or re-election does not have a directors' service contract, a statement to that effect;

(10) a statement of the listed company's policy on the granting of options or awards under its employees' share schemes and other long-term incentive schemes, explaining and justifying any departure from that policy in the period under review and any change in the policy from the preceding year;

(11) for 2 money purchase schemes2 details of the contribution or allowance payable or made by the listed company in respect of each director during the period under review; and

(12) for 2 defined benefit schemes2 :

(a) details of the amount of the increase during the period under review (excluding inflation) and of the accumulated total amount at the end of the period in respect of the accrued benefit to which each director would be entitled on leaving service or is entitled having left service during the period under review;

(b) either:

(i) the transfer value (less director's contributions) of the relevant increase in accrued benefit (to be calculated in accordance with4 regulations 7 to 7E of the Occupational Pension Schemes (Transfer Values) Regulations 19964 but making no deduction for any under-funding) as at the end of the period; or

(ii) so much of the following information as is necessary to make a reasonable assessment of the transfer value in respect of each director:

(A) age;

(B) normal retirement age;

(C) the amount of any contributions paid or payable by the director under the terms of the scheme during the period under review;

(D) details of spouses and dependants benefits;

(E) early retirement rights and options;

(F) expectations of pension increases after retirement (whether guaranteed or discretionary); and

(G) discretionary benefits for which allowance is made in transfer values on leaving and any other relevant information which will significantly affect the value of the benefits; and

Information required by law

LR 9.8.9

01/07/2005

FCA

The requirements of LR 9.8.6R (6) and LR 9.8.8 R relating to corporate governance are additional to the information required by law to be included in the listed company's annual report and accounts.

Auditors report

LR 9.8.10

06/08/2010

FCA

A listed company must ensure that the auditors review each of the following before the annual report is published:

(1) LR 9.8.6 R (3) (statement by the directors that the business is a going concern); and

(2) the parts of the statement required by LR 9.8.6R (6) (corporate governance) that relate to the following provisions of the 9 UK Corporate Governance Code:9

(a) C.1.1;9

(b) C.2.1;9 and

LR 9.8.11

01/07/2005

FCA

A listed company must ensure that the auditors review the following disclosures:

(1) LR 9.8.8 R (2) (amount of each element in the remuneration package and information on share options);

(2) LR 9.8.8 R (3), LR 9.8.8 R (4) and (5) (details of long term incentive schemes for directors);

(3) LR 9.8.8 R (11) (money purchase schemes); and

(4) LR 9.8.8 R (12) (defined benefit schemes).

LR 9.8.12

01/07/2005

FCA

If, in the opinion of the auditors the listed company has not complied with any of the requirements set out in LR 9.8.11 R the listed company must ensure that the auditors report includes, to the extent possible, a statement giving details of the non-compliance.

Summary financial statements

LR 9.8.13

01/10/2009

FCA

Any summary financial statement issued by a listed company as permitted under the Companies Act 22, 37, 320067, must disclose:

(1) earnings per share; and

(2) the information required for summary financial statements set out in or under7the Companies Act 2 2, 3 7, 320067 .

LR 9.8 Annual 1 financial report1

Information to be included in annual report and accounts

Additional information

Report to shareholders

Information required by law

Auditors report

Summary financial statements