67 Finsbury Food Group Annual Report & Accounts 2018


Notes to the Consolidated Financial Statements


6. Remuneration of Directors


2018 £000


Fees Executive salaries Bonuses and benefits


306 711 523


1,540


2017 £000


300 626 583


1,509


The aggregate of emoluments and amounts receivable under long-term incentive schemes of the highest paid Director was £718,000 (2017: £693,000), there were no Company pension contributions made to a defined contribution scheme during the current or prior year. Bonuses include cash bonus of £223,000 (2017: £241,000) and shares issued with a total cost of £80,000 (2017: £91,000). There were no share options exercised in the period by the highest paid Director.


There were no retirement benefits accruing to Directors during the current or previous year. The emoluments paid to Directors were as follows:


Fees £000


P Baker E J Beale


R Beveridge


S A Boyd – paid S A Boyd – shares J G Duffy – paid J G Duffy – shares R P E Duignan M J Millard P J Monk Z Morgan


85 -


54 - - - -


58 53 -


56 306


Salary £000


- - -


284 -


403 - - - - -


687


Benefits £000


- - -


12 -


12 - - - - -


24


Annual bonus £000


- - -


162 58


223 80 - - - -


523


30 June 2018 £000


85 -


54


458 58


638 80 58 53 -


56 1,540 Year ended


Year ended 1 July 2017 £000


75 23 -


442 64


612 91 60 53 36 53


1,509


Shares comprise 74,441 shares issued to J G Duffy and 54,088 shares issued to S A Boyd. During the year awards over 753,469 shares under the long-term incentive plan (LTIP) were granted to Directors in the form of nil cost options (2017: 889,996). The vesting of the awards is conditional upon performance conditions over a three-year period commencing 2 July 2017 and are subject to a further two year holding period.


Directors’ rights to subscribe for shares in the Company are listed below:


Number of options at 30 June 2018


S A Boyd S A Boyd S A Boyd S A Boyd J G Duffy J G Duffy J G Duffy J G Duffy


702,825 505,051 374,532 315,269


1,108,881 695,095 515,464 438,200


4,655,317


Number of options at 1 July 2017


721,217 505,051 374,532 -


1,137,898 695,095 515,464 -


3,949,257


The mid-market price of the ordinary shares on 30 June 2018 was 117.5p (2017: 116p) and the range during the 52 week period to 30 June 2018 was 99p to 131p (2017: 103p to 137p).


Exercise price


Nil Nil Nil Nil Nil Nil Nil Nil


exercise date


01/07/2019 01/07/2020 30/06/2021 02/07/2022 01/07/2019 01/07/2020 30/06/2021 02/07/2022


Earliest expiry date


26/06/2025 04/12/2025 29/09/2026 26/10/2027 26/06/2025 04/12/2025 29/09/2026 26/10/2027


Exercise


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100