Remuneration Committee

The Remuneration Committee currently comprises:

• Katherine Innes Ker (Chairman)
• Sir Bryan Nicholson
• Alexander Anton

The Committee meets at least twice a year to review and determine the remuneration of the Executive Directors and the Directors of subsidiary companies.

The Committee receives material assistance from advice given by the Non-executive Directors of the Group’s Australian subsidiary: M W Oakley and M J Davies.

Directors’ Remuneration Policy

The Committee gives full consideration to the requirements in Schedule A to the Combined Code. The Directors’ remuneration policy is to ensure that remuneration is sufficiently attractive to attract, retain and motivate Executive Directors and Directors of subsidiary companies of a calibre that meets the Group’s needs to achieve its performance against financial objectives and relevant competitors.

Remuneration throughout the Group is designed to be competitive in the country of employment.

For further details, please see the terms of reference.