Annual report and accounts 2023 - Flipbook - Page 198
A.G. BARR p.l.c. Annual Report and Accounts 2023
Notes to the Accounts continued
29. Share-based payments continued
LTIP
During the year, LTIP awards were made to the executive directors as disclosed in the Directors’ Remuneration Report.
The weighted average fair value of the share awards made during the period was determined using the Black-Scholes valuation model. The significant inputs to the model
were as follows:
LTIP
8 April 2022
Date of grant
Number of share awards granted
Share price at date of grant
Contractual life in years
Dividend yield
Expected outcome of meeting performance criteria (at grant date)
323,560
537p
3
2%
100%
Fair value determined at grant date
501p
AESOP
As described in the Directors’ Remuneration Report, there are two elements to the AESOP.
The partnership share element provides that for every two shares (year to 30 January 2022: two shares) that a participant purchases in A.G. BARR p.l.c., up to a 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.
The second element of free shares 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 the annual award is £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.
30. Related party-transactions
Transactions between the Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation. Details of transactions between
the Company and related parties are as follows:
Purchase of goods and services
Rubicon Drinks Limited
FUNKIN Limited
196
2023
£m
2022
£m
6.4
1.6
5.3
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