Annual report and accounts 2023 - Flipbook - Page 126
A.G. BARR p.l.c. Annual Report and Accounts 2023
Directors’ Report continued
The free share element allows participants to receive shares to the value of a common percentage of their earnings, related to the performance of the Group. The maximum
value of any annual award is currently £3,600 and the shares awarded are held in trust for five years. Under the terms of the AESOP rules, any award of free shares to
employees is made by the Trustee of the AESOP subject to the Company’s consent.
Under the terms of this scheme, unless they are a “good leaver” the matching shares will be forfeited if the participant leaves the employment of the Company within three
years of the award. All partnership, matching and free shares must be removed from the trust if employment with the Company ceases.
SAYE
The SAYE is HMRC approved and is available to all qualifying employees, including executive directors. It is based on a three year savings contract which provides the
participant with an option to purchase shares after three years at a discounted price fixed at the time the contract is taken out, or earlier as provided by the scheme rules.
No performance conditions require to be met by any participant in order to exercise their option under the SAYE.
Employment of disabled persons
The Company strives to build an inclusive and diverse culture where all employees have the opportunity to succeed. Applications for employment by disabled persons
are always fully and fairly considered. In the event of employees becoming disabled every effort is made to ensure that their employment will continue. The Company is
committed to the fair treatment of people with disabilities regarding recruitment, training, promotion and career development.
Stakeholder engagement – section 172(1) statement
A statement on how the Company has engaged with key stakeholders, including employees, and the impact of that engagement on the Company’s strategy and the principal
decisions taken during the year is set out in the Corporate Governance Report on pages 74 to 80. This statement also summarises how the directors have had regard to the
need to foster the Company’s business relationships with suppliers, customers and others, and the effect of that regard, including on the principal decisions taken during the
year. This statement is incorporated by reference into this Directors’ Report.
Substantial shareholdings
As at 29 January 2023, the Company had been notified under Rule 5 of the Financial Conduct Authority’s Disclosure and Transparency Rules of the following interests in the
Company’s ordinary share capital:
Number of shares
% of voting rights
Type of holding
Lindsell Train Limited (discretionary clients)
12,287,893
10.96
Indirect
Sanford DeLand Asset Management
5,200,000
4.64
Direct
3,279,347
2.92
Direct
Caledonia Investments plc
The position remains the same as at 27 March 2023 as it did at 29 January 2023.
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