The remuneration policy summary below is an extract of the group’s current remuneration policy on directors’ remuneration (excluding Bisichi PLC), which was approved by a binding vote at the 2023 AGM. The approved policy took effect from 8 June 2023.
Notes to the Remuneration Policy
There have been no significant changes made to the proposed future remuneration policy from its predecessor other than rates which have been amended after taking into account inflation.
In setting the policy, the Remuneration Committee has taken the following into account:
In addition to the entitlements set out above, Bisichi PLC, which is treated as a subsidiary of the Group under the Companies Act 2006, shall be entitled to pay, and any executive director of Bisichi PLC who is also a director of the Company, shall be entitled to retain, any remuneration permissible in accordance with Bisichi PLC’s remuneration policy. Any such remuneration will be (i) to the extent required, permitted by this remuneration policy and (ii) excluded from the calculation of any limits on remuneration under this remuneration policy.
The remuneration of non-executive directors is determined by the board, and takes into account additional remuneration for services outside the scope of the ordinary duties of non-executive directors.