Barclays 2003 Annual Report Download - page 171

Barclays PLC Annual Report 2003 169
54 Related party transactions (continued)
d) Directors
Details of Directors’ emoluments are set out in Note 55 and further information on Directors’ emoluments, shareholdings, options and awards is
given in the Barclays report on remuneration on pages 23 to 34.
In the ordinary course of business, the Bank makes loans to companies where a Director or officer is also a Director of Barclays. With the exception
of an interest free loan of £0.5m to the Charities Aid Foundation group of which Sir Brian Jenkins is President of Trustees, these loans are made
on substantially the same criteria and terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with
other persons and did not involve more than the normal risk of collectibility or present other unfavourable features. The interest free loan to the
Charities Aid Foundation group was repaid in full in 2003.
Xansa PLC, of which Hilary Cropper CBE is Honorary President, provides software support and development resource capability to the Group.
The total value of these transactions for the year ending 31st December 2003 was £10.6m (2002: £14.3m, 2001: £21.5m). This is in addition to the
transactions with Xansa Barclaycard Partnership Limited discussed in Note (b) above.
Cable and Wireless PLC, of which Graham Wallace was Chief Executive until April 2003 has a telecommunications services contract with the Group.
This was awarded as part of a competitive tender activity. The cost to the Group during 2003 for the provision of these services was £5.2m
(2002: £2.2m).
55 Directors’ and officers’ emoluments and other benefits
The aggregate emoluments and other benefits of the Directors of Barclays PLC set out below are disclosed in accordance with Part I of Schedule 6 to
the Companies Act 1985.
2003 2002
£000 £000
Aggregate emoluments 7,617 6,141
Gains made on the exercise of share options 24 499
Amounts paid under long-term incentive schemes –1,235
Notional pension contributions to money purchase schemes (2003: one Director and 2002: one Director) 990 990
As at 31st December 2003, two Directors were accruing retirement benefits under a defined benefit scheme (2002: three Directors).
For US disclosure purposes, the aggregate emoluments of all Directors and officers of Barclays PLC who held office during the year (2003: 27 persons,
2002: 27 persons) for the year ended 31st December 2003 amounted to £51,215,000 (2002: £44,290,000). In addition, the aggregate amount set
aside for the year ended 31st December 2003, to provide pension benefits for the Directors and officers amounted to £1,741,000 (2002: £1,446,000).
The aggregate emoluments of all Directors and officers of Barclays Bank PLC who held office during the year (2003: 28 persons, 2002: 29 persons) for
the year ended 31st December 2003 amounted to £51,328,000 (2002: £44,356,000). In addition, the aggregate amount set aside by the Bank and its
subsidiary undertakings, for the year ended 31st December 2003, to provide pension benefits for the Directors and officers amounted to £1,741,000
(2002: £1,447,000).
Having reviewed the definition of officers for US disclosure purposes, the Group now includes all direct reports of the Group CEO and heads of major
business units in the definition. The 2002 figures detailed above have been adjusted accordingly.
56 Directors’ and officers’ shareholding and options
The beneficial ownership of the ordinary share capital of Barclays PLC by all Directors and officers of Barclays PLC (involving 23 persons) and Barclays
Bank PLC (involving 24 persons) at 31st December 2003 amounted to 1,371,584 ordinary shares of 25p each (0.02% of ordinary share capital
outstanding).
Executive Directors and officers of Barclays PLC as a group (involving 14 persons) held, at 31st December 2003, options to purchase 25,358,331
Barclays PLC ordinary shares of 25p each at prices ranging from 308p to 411p under the SAYE Share Option Scheme, and ranging from 347p to 397p
under the Executive Share Option Scheme and ranging from 326p to 534p under the Incentive Share Option Plan, respectively.