Cosalt plc Annual report & financial statements 2008

Governance
Remuneration report
Pension rights*
Messrs Wood and Carrick participated in the Group’s Defined Benefits Pension Scheme on the same terms as other Executives
and Staff until its closure to future accrual on 31 December 2006.
Pension entitlements and corresponding transfer value changes during the year of the Executive Directors who were Members
of the Defined Benefit Scheme were as follows:
Accrued Accrued Increase in
Changes in
transfer value
pension pension accrued Transfer value Transfer value over the year
at 26 Oct 07 at 26 Oct 08 Pension at 26 Oct 08 at 28 Oct 07 less Director’s
£pa £pa £pa £ £ contributions £
F W Wood** 96,295 100,079 29 1,460,181 1,991,282 (531,101)
N R Carrick* 18,634 19,368 7 194,256 320,877 (126,621)
* The GN11 transfer values for N R Carrick include the value of transferred in benefits from previous schemes. These amounts are not included within the accrued pension.
** FW Wood retired from the scheme as at 31 December 2007. As such the above figures for Mr Wood are as at 31 December 2007 and not at 26 October 2008 as indicated.
The change in the transfer value includes the effect of fluctuations in the transfer value due to factors beyond the control of the
Company and Directors such as stock market movements and gilt yields.
The GN11 transfer values disclosed above do not represent a sum paid or payable to the individual Director. Instead they represent
a potential liability of the pension scheme. The Trustees are currently reducing any transfer values from the Scheme due to the
Scheme deficit based upon actuarial calculations.
Messrs Jonsson and Carrick received a contribution of 7% of their salary per annum to a personal pension arrangement.
Messrs Lejman and Reynolds received 12% of their salary per annum to a personal pension arrangement.
Performance graph
The following graph shows the Company’s performance, measured by total shareholder return (TSR) compared with the performance
of the FTSE All Share Index also measured by TSR. TSR is defined as share growth and reinvested dividend. The FTSE All Share Index
has been selected for comparison as it represents a broad equity index without the inherent volatility of the FTSE Fledgling Index.
200 – Cosalt
180 – FTSE All Share – Price Index
160
140
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100
80
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20
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Oct-03 Apr-04 Oct-04 Apr-05 Oct-05 Apr-06 Oct-06 Apr-07 Oct-07 Apr-08 Oct-08
Cosalt plc Annual report & financial statements 2008
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