ANNUAL REPORT AND FINANCIAL STATEMENTS 2012 | 137


Appendix to Notice of Annual General Meeting


Summary of the proposed amendment to the F&C Asset Management plc Long-Term Remuneration Plan


1. Introduction The LTRP was originally adopted on 4 October 2004 and is used to grant awards over Ordinary Shares to selected employees, including the Company’s Executive Directors.


2. Current dilution limit


The rules of the LTRP currently provide that the number of Ordinary Shares which may be placed under award on any day must not, when added to the aggregate number of Ordinary Shares placed under award or option in the previous ten years under the LTRP and any other employees’ share scheme operated by the Company, exceed such number as represents 10% of the Company’s issued ordinary share capital at that time.


For the purposes of this limit, the following are disregarded:


(a) any Ordinary Shares that have been, or will be purchased, rather than allotted;


(b) certain shares issued pursuant to the historic F&C Asset Management plc Reinvestment Plan;


(c) certain shares issued pursuant to the acquisition of Thames River Capital and the related commutation arrangements and for the settlement of awards made under the Thames River Management Retention Plan and Management Incentive Plan; and


(d) any Ordinary Shares subject to an award or option that has lapsed or otherwise become incapable of vesting.


3. Proposed amendment to the dilution limit


For the reasons outlined on page 24 of the Annual Report and Financial Statements that accompany this Notice of Annual General Meeting, resolution 16 seeks shareholder approval to amend the LTRP’s rules by raising the above dilution limit from 10% to 15% of the Company’s issued ordinary share capital. No other change to these provisions is proposed and they will continue to be assessed over a rolling 10-year period.


4. Defined terms


In this appendix, the following words and expressions bear the following meanings unless the context requires otherwise:


“LTRP” The F&C Asset Management plc Long-Term Remuneration Plan; and


“Ordinary Shares” Ordinary Shares of 0.1p each in the capital of the Company.


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