Experian 2008 Annual Report Download - page 44

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42 Experian Annual Report 2008
Where, under an employee share plan operated by Experian, participants are the beneficial owners of the shares
but not the registered owner, the voting rights are normally exercised by the registered owner at the direction of the
participant.
Financial risk management, objectives and policies
Descriptions of the use of financial instruments and Experian’s treasury and risk management objectives and policies
are set out in the financial review on pages 23 and 24, and also in note 3 to the Group financial statements.
Own shares
The existing authority for the Company to purchase its own shares, which expires at the end of this year’s annual general
meeting, was given at the annual general meeting held on 18 July 2007 and permitted the Company to purchase, in the
market, up to 102,000,000 of its own shares. The Company did not utilise the authority to make any purchases of its own
shares during the period under review.
Details of the new authority being requested are contained in the circular to shareholders, which accompanies this
annual report or is available on the Company’s website at www.experiangroup.com. The Companies (Jersey) Law
1991 (as amended) now permits the Company to hold any shares bought back as treasury shares as an alternative to
immediately cancelling them and the directors intend to decide whether to cancel shares pursuant to this authority or
hold them as treasury shares based on the interests of the Company and shareholders as a whole at the relevant time.
Details of the shares in the Company purchased by and held under the Experian Group Limited Employee Share Trust,
the Experian UK Approved All-Employee Plan and the GUS plc ESOP Trust are set out in note L to the Company’s
financial statements on page 139.
Donations
During the year the Group donated US$1.94m (including a full year’s donation of US$0.2m from Serasa, acquired in
June 2007) to charitable causes. Funds from the GUS Charitable Trust disbursed through Experian during the year
totalled US$0.14m.
In addition to cash contributions, the Group’s employees are encouraged to give their time and skills for the benefit of a
variety of charitable causes.
During the year the Group made no political donations.
Employment of people with disabilities
People with disabilities, whether registered or not, have equal opportunities when applying for vacancies, with due
regard to their aptitudes and abilities. In addition to complying with legislative requirements, procedures are in place
to ensure that disabled employees are fairly treated and that their training and career development needs are carefully
managed. For those employees becoming disabled during the course of their employment, the Group is supportive,
whether through re-training or re-deployment, so as to provide an opportunity for them to remain with the Group.
Employee involvement
The Group is intent on motivating and keeping staff informed on matters that concern them in the context of their
employment and involves them through local consultative procedures. Where there are recognition agreements with
trade unions, the consultation process is established through national and local trade union representatives and through
joint consultation committees. Information on matters of concern to employees and about the financial and economic
factors affecting the Group’s performance is also disseminated through management channels, conferences, meetings,
publications and internet sites.
Employees are actively encouraged to become shareholders in Experian through the provision of save as you earn
and other all-employee share plan arrangements which are intended to align the interests of employees with those of
shareholders.
Directors’ report continued