Remuneration Report
| Ordinary shares of 5p each | ||||
| At 16 November 2009 Number |
At 30 September 2009 Number |
At 1 October 2008 Number |
||
| IM Grice | 20,000 | 20,000 | 20,000 | |
| I Henderson | 534,604 | 534,604 | 421,875 | |
| NP Lingwood | 100,000 | 100,000 | 195,875 | |
| JW Matthews | - | - | - | |
| JL Rennocks | 223,766 | 223,766 | 214,766 | |
| BM Thompson | 1,215,039 | 1,215,039 | 1,026,940 | |
Note:
- The above table excludes interests in the Company’s Long Term Incentive Plan, disclosed above.
As described above, following the vesting of the LTIP awards the Executive Directors are able to exercise their vested awards to acquire ordinary shares of 5p each in the Company for an aggregate consideration of £1. The underlying shares are held by the Diploma Employee Benefit Trust and are transferred to the participant on exercise. Whilst ordinary shares are held within the Diploma Employee Benefit Trust, the voting rights in respect of those shares are exercisable by the trustees in accordance with their fiduciary duties. At 30 September 2008 and 2009 the number of shares which are the subject of vested LTIP awards and are held by each Director were as follows:
| Vested LTIP awards | Share price | Amount | ||||||
| At 30 Sept 2008 Number |
Exercised during 2009 Number |
Vested during 2009 Number |
At 30 Sept 2009 Number |
At 30 Sept 2008 |
At 30 Sept 2009 |
At 30 Sept 2008 £ |
At 30 Sept 2009 £ |
|
| BM Thompson | 188,099 | (188,099) | 175,132 | 175,132 | 152.5p | 173.0p | 286,851 | 302,978 |
| I Henderson | 112,729 | (112,729) | 105,079 | 105,079 | 152.5p | 173.0p | 171,912 | 181,787 |
| NP Lingwood | 112,729 | (112,729) | 105,079 | 105,079 | 152.5p | 173.0p | 171,912 | 181,787 |
Note:
- On 17 November 2008, each participant exercised their option to acquire shares which had vested at 30 September 2008, for consideration of £1. The share price at the date of exercise was 114.0p.
- The share price during the year to 30 September 2009 ranged from 92.25p to 173.0p.
The information set out above under the headings Total Remuneration of the Directors and Directors’ Shareholdings has been audited. All other information provided in the Remuneration Report is not subject to audit.
This Remuneration Report has been approved by the Board and signed on its behalf by:
IM Grice
Chairman of the Remuneration Committee
16 November 2009