Annual report and accounts 2023 - Flipbook - Page 125
Strategic Report
Corporate Governance
Accounts
Directors’ interests
Information regarding the directors’ interests in ordinary shares of the Company is provided in the Directors’ Remuneration Report on page 100. No director has any other
interest in any shares or loan stock of any Group company.
Other than service contracts, no director had a material interest in any contract to which any Group company was a party during the year.
There have been the following changes notified in the directors’ shareholdings between 29 January 2023 and 27 March 2023: an increase in R.A. White’s holding of 82 shares,
an increase in S. Lorimer’s holding of 83 shares and an increase in J.D. Kemp’s holding of 82 shares.
Directors’ indemnity provisions
As at the date of this report, indemnities are in force between the Company and each of its directors under which the Company has agreed to indemnify each director, to the
extent permitted by law, in respect of certain liabilities incurred as a result of carrying out their role as a director of the Company. The directors are also indemnified against
the costs of defending any criminal or civil proceedings or any claim in relation to the Company or brought by a regulator as they are incurred, provided that where the
defence is unsuccessful the director must repay those defence costs to the Company. The Company’s total liability under each indemnity is limited to £5.0m for each event
giving rise to a claim under that indemnity. The indemnities are qualifying third party indemnity provisions for the purposes of the Companies Act 2006. In addition, the
Company maintained a Directors’ and Officers’ liability insurance policy throughout the financial year and has renewed that policy.
As at the date of this report, indemnities are in force between the Company and each of the directors of the corporate trustee of the A.G. BARR p.l.c. (2008) Pension and Life
Assurance Scheme under which the Company has agreed to indemnify each director, to the extent permitted by law, in respect of certain liabilities incurred in connection
with the corporate trustee’s activities as a trustee of such scheme.
Research and development
The Group undertakes research and development activities in order to develop its range of new and existing products. Expenditure during the year on research and
development amounted to £1.4m (2022: £1.3m).
Political donations and political expenditure
No Group company made any political donations or incurred any political expenditure in the year (2022: £nil).
Post balance sheet events
Relevant post balance sheet events requiring disclosure are included in Note 32 to the accounts.
Employee engagement
Information on employee engagement is included in the Corporate Governance Report on pages 78 and 79 and the Strategic Report on page 35.
All qualifying employees are entitled to join the Savings Related Share Option Scheme (“SAYE”) and the All-Employee Share Ownership Plan (“AESOP”). Details of these share
schemes are provided below.
AESOP
The AESOP is HMRC approved and the executive directors participate in both sections of the scheme, which is open to all qualifying employees.
The partnership share element provides that for every two shares a participant purchases in the Company, up to a current maximum contribution of £150 per month, the Company
will purchase one matching share. The matching shares purchased are held in trust in the name of the individual.
There are various rules as to the period of time that the shares must be held in trust but after five years the shares can be released tax free to the participant.
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