Directors’ Report
Background Te Group operates in the cake and bread markets which is focused on premium, celebration and well-being. Tese products are supplied both under the retailers’ own brands and through a number of licensed brands to which the Group has access.
A review of the activities and any likely future developments in the business of the Group is given in the Chairman’s Statement, Chief Executive’s Report and the Strategic Report on pages 8 to 21.
Dividend On 21 March 2014, the Board approved an interim dividend for the six months to 28 December 2013 of 0.25p per share which was paid on 25 April 2014. Te Directors have recommended a final dividend of 0.75p per share.
Directors and their Interests in the Company Te Directors and brief biographies are detailed on pages 6 to 7.
In accordance with the Articles of Association E J Beale retires by rotation and being eligible offer himself for re-election. Te beneficial interests of the Directors in the Ordinary Shares of the Company on 28 June 2014 and 29 June 2013 are set out below: Ordinary Shares
28 June 2014 or date of ceasing to be a Director
E J Beale S A Boyd
D C Currie (d) J G Duffy
I R Farnsworth (c) M W Lightbody (a) D C Marshall (b) P J Monk
(a) On 30 June 2014 M W Lightbody stepped down as Chairman. (b) On 30 June 2014 D C Marshall stepped down as a Non-Executive Director. (c) On 15 July 2013 I R Farnsworth stepped down as a Non-Executive Director. (d) On 31 December 2013 D C Currie stepped down as a Director. Details of Directors' share options are set out in Note 7 to the Financial Statements. Details of the emoluments of the Directors are given in Note 7 to the Financial Statements. Tere have been no changes in the interests of Directors as set out above since 28 June 2014. Share Capital
Details of the changes in the share capital of the Company during the year are set out in Note 27 to the accounts.
Substantial Interests Te following substantial interests (3 per cent or more) in the Company’s issued share capital have been notified to the Company as at 29 August 2014: Number
of shares Ruffer LLP
London Finance & Investment Group P.L.C. M W Lightbody Hargreave Hale Barclays Wealth
Miton Group P.L.C
10,438,689 9,000,000 7,200,000 5,471,385 3,171,554 2,121,070
40,000
555,137 136,238
1,855,163 Nil
7,200,000 Nil
291,547 29 June 2013 40,000
555,137 136,238
1,382,359 83,866
13,700,000 Nil
441,547
% of issued share capital
15.6% 13.5% 10.8% 8.2% 4.7% 3.2%
66
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