Directors

A list of the current directors of the Company, together with biographical notes, is shown in the Board of Directors section of this report. All current directors remained in office throughout 2007.

Beverley Hodson retired from the Board at the conclusion of the Annual General Meeting (AGM) on 16 May 2007. Robin Phipps retired as a director of the Company on 13 July 2007.

The directors retiring by rotation at the 2008 AGM are Tim Breedon, Frances Heaton, Sir Rob Margetts, Henry Staunton and Sir David Walker who, being eligible, offer themselves for re-election.

The terms and conditions of appointment for Frances Heaton, Sir Rob Margetts, Henry Staunton and Sir David Walker are available for inspection at the Company’s registered office and at the AGM.

As an executive director and Chief Executive Officer, Tim Breedon has a service contract which is terminable by him or the Company on receipt of no less than six months’ written notice. On termination, in addition to his notice period, he would become entitled to six months’ salary, pension and car allowance.

If the directors are not re-elected at the AGM, their appointments will terminate automatically with immediate effect.

The Directors’ Report on Remuneration provides details of the current incentive schemes, the interests of directors in the share capital of the Company and details of their share options and other long term incentives.

Changes in directors’ share interests between 1 January 2008 and 17 March 2008 (being the last date that the figures were available prior to publication) are outlined in Fig 9 and Fig 10.