Annual Report and Accounts 2006 - DCC plc

eport of the remuneration committee47DCC Sharesave SchemeThe Group established the DCC Sharesave Scheme in 2000. On 15 June 2001, options were granted under the Schemeto those Group employees, including executive Directors, who entered into associated savings contracts. The optionswere granted at an option price of €8.79 per share, which represented a discount of 20% to the then market price asprovided for by the rules of the Scheme. These options are exercisable between June 2004 and September 2007. On 10December 2004, a second grant of options under this Scheme was made to Group employees, not including executiveDirectors, at an option price of €12.63 per share, which represented a discount of 20% to the then market price. Theseoptions are exercisable between December 2007 and March 2011. At 31 March 2006, Group employees held options tosubscribe for 884,988 ordinary shares under the DCC Sharesave Scheme.The following are details of the share options granted to executive Directors and the Company Secretary under the DCCSharesave Scheme:No. of ordinary shares No. of ordinary sharesExecutive Directors at 31 March 2006 at 31 March 2005Jim Flavin 2,383 2,383Tommy Breen 2,383 2,383Kevin Murray 2,383 2,383Fergal O’Dwyer 2,383 2,383Company SecretaryGerard Whyte 2,006 2,006The market price of DCC shares on 31 March 2006 was €19.20 and the range during the year was €14.92 to €19.65.Additional information in relation to the DCC plc 1998 Employee Share Option Scheme and the DCC Sharesave Schemeappears in note 10 on pages 75 to 78.Directors’ and Company Secretary’s interestsThe interests of the Directors and the Company Secretary (including their respective family interests) in the share capitalof DCC plc at 31 March 2006, together with their interests at 31 March 2005, were:No. of ordinary shares No. of ordinary sharesDirectors at 31 March 2006 at 31 March 2005*Alex Spain 25,634 25,634Jim Flavin 2,456,033 2,456,033Tony Barry 17,000 17,000Róisín Brennan - -Michael Buckley 10,000 -Tommy Breen 211,512 211,512Paddy Gallagher 5,040 5,040Maurice Keane 5,000 5,000Kevin Murray 187,306 187,306Fergal O’Dwyer 212,506 212,506Bernard Somers - -Company SecretaryGerard Whyte 125,353 125,353*At 5 September 2005 in respect of Róisín Brennan and Michael Buckley, being the date of their appointment.All of the above interests were beneficially owned. There were no changes in the interests of the Directors and theCompany Secretary between 31 March 2006 and 12 May 2006.Apart from the interests disclosed above, the Directors and the Company Secretary had no interests in the share capital orloan stock of the Company or any other Group undertaking at 31 March 2006.The Company’s Register of Directors Interests (which is open to inspection) contains full details of Directors’ shareholdingsand share options.Directors’ service agreementsOther than for the Chief Executive/Deputy Chairman, there are no service agreements between any Director of theCompany and the Company or any of its subsidiaries. The Chief Executive/Deputy Chairman’s service agreement providesfor one year’s notice of termination by the Company.