View - Atkins

Governance 47
The final phase of implementation of the
2006 Act is currently scheduled to take
place in October 2009. It is therefore
anticipated that further changes to the
Articles of Association will be proposed
to shareholders at the 2009 AGM.
Political donations
It is the Group’s policy not to make political
donations and not to incur political
expenditure, either in the UK or overseas.
Accordingly, the Group made no political
donations and incurred no such expenditure
during the year and has no intention of
making any such donations or incurring
such expenditure in the future. However,
the provisions previously contained in the
Companies Act 1985 and now enacted in
the 2006 Act relating to donations and
expenditure covered by this disclosure are
wide. The Board has therefore sought
authority in the past for the Company and
its main trading subsidiary, Atkins Limited,
to make such donations and incur such
expenditure up to a limit of £100,000 so
as to prevent an inadvertent breach of the
relevant legislation. The Board considers it
prudent to once again seek such authority
at the Company’s forthcoming AGM,
although this will be subject to a revised
overall aggregate limit for the Company
and its subsidiaries of £90,000 and to the
provisions of the 2006 Act. The authority
will not be used to make political donations
within the normal meaning of that
expression. Further details are contained
in the Notice of Meeting.
Charitable donations
During the year, the Group made charitable
donations of £191,527 (2007: £205,813).
The beneficiaries of these donations were
local charities serving the communities
in which the Group operates or charities
working in areas relevant to the Group’s
activities. The Group intends to continue
its focus on local charities in the next
financial year.
Corporate governance
and remuneration
A report on corporate governance is on
pages 50 to 55 and the Board’s report on
directors’ remuneration is on pages 56 to 60.
Corporate responsibility
A summary of the Group’s corporate
responsibility activities is contained on
pages 38 to 42. In addition, the Group
provides additional information on corporate
responsibility, which includes detailed
information in respect of health and safety,
the environment, the community, people
and suppliers on the Company’s website
www.atkinsglobal.com
Employees
The Group is committed to the fair and
equitable treatment of all its employees,
irrespective of sex, race, age, religion,
disability or sexual orientation. To this end,
policies have been implemented to ensure
this is practised at recruitment and then
continues throughout an individual’s
employment with the Group. The Group
encourages recruitment, training, career
development and promotion on the basis
of aptitude and ability, without regard to
disability. It is also committed to retaining
and retraining as necessary employees
who become disabled during the course
of their employment.
Employees are routinely informed of
financial results and significant business
issues via the use of email, voice conference,
the Company’s intranet and in-house
publications. During the year work was
successfully undertaken to refresh and
reinvigorate the Company’s intranet to
enhance employee communications.
An annual survey is carried out to obtain
feedback from employees. This survey
is confidential and is used alongside
consultation with employees and union
representatives where appropriate.
Employee involvement in the Group’s
performance continues to be encouraged
through share ownership. In the UK,
employees are given the opportunity
to become shareholders through
the Company’s Share Incentive Plan.
Approximately 10% of UK employees
participate in the Share Incentive Plan.
Supplier payment policy
The Group’s policy is to agree terms and
conditions for its business transactions
with suppliers and to endeavour to abide
by these terms and conditions, subject
to the supplier performing its obligations.
The Company, as a holding company,
did not have any amounts owing to trade
creditors as at 31 March 2008.
Share capital and share purchases
As at the date of this report, the Company’s
share capital consists of 104,451,799
issued and fully paid ordinary shares each
with a nominal value of 0.5p per share,
listed on the London Stock Exchange. Of
these, 3,941,000 ordinary shares are held
in treasury (the treasury shares). Shares
may be held in certificated or uncertificated
form. Further details of the Company’s
authorised and issued share capital, including
changes during the year, can be found
in note 31 to the Financial Statements
on page 104.
At the AGM held in 2007, the Company
was granted authority by shareholders to
purchase up to 10,445,179 ordinary shares,
representing 10% of the Company’s
ordinary share capital as at 26 June 2007.
This authority will expire at the forthcoming
AGM and, in accordance with current best
practice, the Company will seek to renew it.
The Board, mindful of the benefit of
maintaining an efficient balance sheet,
announced a share buyback programme
on 27 November 2007 intended to return
up to £100m to shareholders. This followed
a review of the strength of the Group’s
balance sheet following the disposal of
Lambert Smith Hampton and the resolution
of the uncertainty surrounding the Group’s
investment in Metronet.
Introduction Reviews Governance Financial Statements Investor Information
WS Atkins plc Annual Report 2008