Untitled - David Kronemyer

24. PENSION ARNANGEMf,NTS
A significant number of employees in the UK belong to the'IHORN I.lMl Pension Fund
which is seH-administered and extemally funded. Employees overseas belong to pension
schernes administered and financed in accordance with local practice and legislation;
some of these are internally {unded and the amounts set aside are shown as prorisions
(note lB).
Contributions in all cases are made in accordance rith actuarial recommendations in
order that benelits can be met as and r,vhen they fall due.
An actuarial valuation of the UK Pension Fund was made at 5 April 1985. This
disclosed a surplus which has been appropriated in part by improvements in benelits and
in part by a reduaion in the funding rates,
For the period I April ]986 to 31 March 1989 contributions to the lund by the Company
were set at 2.50/o o{ contributory pay.
25. DIRECTORS' INTERESTS
The beneficial interests of the I)irectors in the share capital of the Company were as
rollows:
",T.T,l"l:it
Options
Options
Sir Graham Wilkins
C G Southgate
M R An€us
Sir William Barlow
J D F Barnes
H J Maxmin
T Mayer
V B Menon
R H H Nellist
Sir Ian Trethowan
Ordinary
Shares
Over
Over
Ordinary Ordinary Ordinary
Shares Sharcs Shares
fincludes
Ordinary Shares under the Savings Related Share Option Scheme.
In addition to the holdings shown above, throughout the year to 3l March 1988,
Sir Graham Wilkins, Dr H J Maxmin and Mr R H H Nellist were interested in respectively
406; 100; and 100 70lo Convertible Redeemable Second Curnulative Preference Shares
1992/99.
No hansactions subsequent to 3l Mareh 19BB have been notilied.
Iixcept as stated above, or in respect of a contract ol service, neither the l)irectors nor
any members of their {amilies have during the year ended 3l March 1988 or in the period
since that date, had any material interest in any contract with the Company or a
subsidiary.