Barclays 2007 Annual Report Download - page 229

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Financial statements
Barclays PLC Annual Report 2007 227
42 Related party transactions and Directors’ remuneration (continued)
Remuneration of Directors and other Key Management Personnel
Directors, other Key Management
Personnel and connected persons
2007 2006 2005
£m £m £m
Salaries and other short-term benefits 23.7 34.2 32.9
Pension costs 1.1 0.8 1.1
Other long-term benefits 9.2 9.3 21.5
Termination benefits –1.4 1.5
Share-based payments 31.7 27.2 25.3
Employer social security charges on emoluments 7.8 10.0 10.4
73.5 82.9 92.7
(b) Disclosure required by the Companies Act 1985
The following information is presented in accordance with the Companies Act 1985:
Directors’ remuneration
2007 2006
£m £m
Aggregate emoluments 29.2 32.0
Gains made on the exercise of share options 0.3 5.5
Amounts paid under long-term incentive schemes ––
Actual pension contributions to money purchase scheme (2007: one Director, £10,233 and 2006: one Director, £11,414) ––
Notional pension contributions to money purchase scheme (2007: no Directors and 2006: no Directors) ––
29.5 37.5
As at 31st December 2007, three Directors were accruing retirement benefits under a defined benefit scheme (2006: four Directors).
Two Directors (Naguib Kheraj and Frits Seegers) agreed to waive their fees as non-executive Directors of Absa Group Limited and Absa Bank Limited.
The respective fees for 2007 were ZAR 0.1m (£0.01m) and ZAR 0.5m (£0.03m). The fees for 2006 were ZAR 0.4m (£ 0.03m) for Naguib Kheraj and ZAR
0.1m (£ 0.01m) for Frits Seegers. In both 2006 and 2007 the fees were paid to Barclays.
Directors’ and Officers’ shareholdings and options
The beneficial ownership of the ordinary share capital of Barclays PLC by all Directors and Officers of Barclays PLC (involving 21 persons) and Barclays
Bank PLC (involving 22 persons) at 31st December 2007 amounted to 5,774,219 ordinary shares of 25p each (0.09% of the ordinary share capital
outstanding) and 5,776,370 ordinary shares of 25p each (0.09% of the ordinary share capital outstanding), respectively.
Executive Directors and Officers of Barclays PLC as a group (involving 10 persons) held, at 31st December 2007, options to purchase 3,097,762 Barclays
PLC ordinary shares of 25p each at prices ranging from 373p to 510p under Sharesave and at 397p under the Executive Share Option Scheme and
ranging from 326p to 534p under the Incentive Share Option Plan, respectively.
Contracts with Directors (and their connected persons) and Managers
The aggregate amounts outstanding at 31st December 2007 under transactions, arrangements and agreements made by banking companies within the
Group for persons who are, or were during the year, Directors of Barclays PLC and persons connected with them, as defined in the Companies Act 2006,
and for Managers, within the meaning of the Financial Services and Markets Act 2000, of Barclays Bank PLC were:
Number of Number of
Directors or connected Amount
Managers persons £m
Directors
Loans 2 5 2.1
Quasi-loans and credit card accounts 12 18 –
Managers
Loans 12 n/a 13.2
Quasi-loans and credit card accounts 11 n/a –
(c) US disclosures
For US disclosure purposes, the aggregate emoluments of all Directors and Officers of Barclays PLC who held office during the year (2007: 22 persons,
2006: 24 persons, 2005: 25 persons) for the year ended 31st December 2007 amounted to £64.6m (2006: £72.1m, 2005: £75.2m). In addition, the
aggregate amount set aside for the year ended 31st December 2007, to provide pension benefits for the Directors and Officers amounted to £1.1m
(2006: £0.8m, 2005: £0.2m). The aggregate emoluments of all Directors and Officers of Barclays Bank PLC who held office during the year (2007: 23
persons, 2006: 25 persons, 2005: 26 persons) for the year ended 31st December 2007 amounted to £64.9m (2006: £72.2m, 2005: £75.4m). In addition,
the aggregate amount set aside by the Bank and its subsidiaries for the year ended 31st December 2007, to provide pension benefits for the Directors
and Officers amounted to £1.1m (2006: £0.8m, 2005: £0.2m).