Ryanair 2004 Annual Report Download - page 15

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I nt e r n ational Fi n a n c i al Re p o rt i n g
Standards (continued)
Presentationand disclosure of financialinformation
The transition to an international accounting framework will
give rise to an increase in certain disclosures to the financial
statements. There will also be some presentational changes.
Financial statements will disclose a detailed reconciliation of
reserve movements forthe current year, with comparatives.
Accounting Records
The dire c to rs believe that they have complied with the
requirements of Section 202 of the Companies Act, 1990 with
regard to books of account by employing financial personnel
with appro p r i a te ex p e rt i s e and by providing adequate
resources to the financial function. The books of account of the
company are maintained at its registered office, Corporate
Headquarters, Dublin Airport, Co. Dublin.
Staff
At March 31, 2004, the group employed 2,302 people. This
compares to 1,897 staff at March 31, 2003. The increase in
staff levels consisted mainly of pilots and cabin crew and arose
due to the expansion of the aircraft fleet and continued growth
of the group.
Air Safety
Commitment to air safety is a priority of the group. The group
has designed and implemented a safety policy which operated
throughout the year. The group operates continuous staff
training programmes, has designated a senior pilot as full time
Flight Sa fety Offi cer and has an Air Safety Co m m i tte e
comprising of a director of the Board, senior management and
the Flight Safety Officer.
Health and Safety
The well being of the group’s employees is safeguarded
through the strict adherence to health and safety standards.
The Safety, Health and Welfare at Work Act 1989 imposes
certain requirements on employers and the group has taken
the necessary action to ensure compliance with the Act.
Ryanair has implemented sa fety sta te m e n ts and has a
designated Health and Safety Officer.
Su b st a nt ia l I nter e sts i n t h e Sh a r e
Capital
As at July 16, 2004 the directors are aware of the following
substantial interests in the share capital of the company
(excluding those of the directors)* which representmore than
3% of the issued share capital. At March 31, 2004 the free
float in shares was 92%.
*seenote 23(d) to the financial statements
(Continued)
Directors’ Report 15
A N N U A L R E P O RT & F I N A N C I A L S T A T E M E N T S 2 0 0 4
Fidelity Investements 113,147,344 14.94%
Gilder Gagnon
Howe & Co LCC 68,710,100 9.07%
Capital Group
Companies Inc 63,691,665 8.41%
Janus 30,878,980 4.08%
NAME SHARES HELD % OF ISSUED
SHARE CAPITAL