IMI plc annual report 2012

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ENGINEERINGADVANTAGERemuneration Report8. Summary of directors’ remunerationThis section of the Remuneration Report is required to be audited.Salaryand fees£000Non-cashbenefits£000Sums byway oftaxableallowances£000Pensionallowance£000CompensationPayments toformerDirectors£000Bonus2012£000NonexecutivesN B M Askew 163P Bentley* 13 13K S Beeston** 39 39 53C P Forster* 13 13A M Frew 53 53 53T M Gateley 68 68 68B Nørgaard*** 8 8R Quarta 250 250 64R J Stack 63 63 63Total2012£000Total2011£000ExecutiveD M Hurt 405 7 20 142 238 812 972M J Lamb 740 7 27 259 524 1,557 1,912S Toomes 330 10 196 116 174 826 557R M Twite 405 7 19 142 222 795 921I W Whiting**** 230 6 183 81 738 1,238 841Total 2,617 37 445 740 738 1,158 5,735 5,667*P Bentley and C P Forster were appointed as non-executive directors on 1 October 2012.**K S Beeston stepped down as a non-executive director on 1 October 2012.***B Nørgaard was appointed as non-executive director on 6 November 2012.****I W Whiting stepped down from the Board on 22 August 2012, with his executive responsibilities ceasing with immediate effect. Underthe terms of his severance arrangement, he received termination payments totalling £738,000. This included:• £345,000 being 12 months’ salary in lieu of notice (contractual notice period) paid in instalments.• £253,000 being 12 months’ benefits and pension in lieu of notice (contractual notice period) paid in instalments.• £140,000 being contractual relocation entitlement paid in instalments.• Also in recognition that certain share awards would have vested during his notice period, the Remuneration Committee exercised itsdiscretion to allow him to retain the 2009 Share Option Plan award he was granted before becoming a director and the Share MatchingPlan award granted on 7 May 2010. All of his other outstanding share awards lapsed in full. Details in respect of such awards appear inthe share tables in section 9. I W Whiting did not receive an annual incentive bonus payment with respect to 2012.Non-executive remuneration shown above of £507,000 (2011: £464,000) represents fees rather than salary.Certain directors receive their salaries in currencies other than sterling. The salary figures reported above reflect theircontractual entitlements, which may differ slightly to the amounts they actually receive due to movements in exchange ratesduring the year.Benefits in kind provided to executive directors consist of the provision of private health care arrangements and all employeeshare ownership plan awards.All executive directors elected for a cash alternative, instead of a company car. Sums paid by way of taxable allowancesin the above table include cash allowances in lieu of a company car, certain pension benefits and tax assistance.Relocation allowances were provided to S Toomes and I W Whiting in respect of their moves to Switzerland.64 Board reports
9. Directors’ share awardsThis section of the Remuneration Report is required to be audited.Share awards/options are outstanding under the following schemes:UK SAYE - IMI Savings-Related Share Option Scheme PSP - Performance Share PlanSMP - Share Matching PlanSOP - Share Option PlanUS SAYE - IMI US Stock Purchase Plan 20119.1 Table of SAYE, PSP and SOP awardsDirectorM J LambD M HurtR M TwiteI W WhitingPerformanceSchemeconditionUKSAYEPSP c)d)e)f)g)UKSAYEPSP c)d)e)f)g)UKSAYEPSP c)d)e)f)g)USSAYEDate ofgrant/awardAwardprice*a) 09.04.09 201.36pb) 10.04.12 890.01pAs at01.01.12(or dateof appointmentif later) Granted4,544Nil 1,011During the yearAs at31.12.12Datefrom which(or at exercisable/Vested Exercised Lapsed 22.08.12) vesting date4,544 4,544 Nil1,011ExpirydateDate ofexerciseMidmarketprice atdate ofexercise01.08.12 31.01.13 01.08.12 833.00p01.08.15 31.01.1611.03.19 03.05.1211.03.19 09.05.1222.03.2010.03.2104.05.2211.03.09 229.50p 285,800 285,800 69,564 216,236 11.03.1204.05.1207.05.1010.03.1104.05.12949.50p679.00p956.17p949.50pNil96,60075,300Nil41,86775,45036,987 1,347 4,880 35,64096,60075,30075,45004.05.1222.03.1310.03.1404.05.15a) 09.04.09 201.36p 7,772 7,772 01.08.14 31.01.1511.03.0904.05.1207.05.1010.03.1104.05.12229.50p949.50p679.00p956.17p949.50pa) 09.04.09 201.36pb) 10.04.12 890.01p156,800Nil53,00041,300Nil22,96941,2504,544Nil 1,011156,80019,553 3,416156,80019,55353,00041,30041,2504,544 4,544 Nil1,011980.50p906.50p11.03.12 11.03.1904.05.12 11.03.1922.03.13 22.03.2010.03.14 10.03.2104.05.15 04.05.2201.08.12 31.01.13 01.08.12 833.00p01.08.15 31.01.1611.03.19 03.05.1211.03.19 09.05.1222.03.2010.03.2104.05.2211.03.09 229.50p 148,100 148,100 148,100Nil 11.03.1204.05.1207.05.1010.03.1104.05.12949.50p679.00p956.17p949.50pNil50,10039,000Nil21,69541,25021,695 21,695Nil50,10039,00041,25004.05.1222.03.1310.03.1404.05.15a) 19.12.11 631.85p 977 977 25.08.13 18.03.14PSP f) 10.03.11g) 04.05.12956.17p949.50pSOP h) 03.09.09 440.93pi) 22.03.10 645.00pS Toomes PSP f) 10.03.11 956.17pg) 04.05.12 949.50pSOP h) 03.09.09 440.93pi) 22.03.10 645.00p36,000Nil 17,550120,00075,00021,100Nil 33,65090,00057,500120,00036,00017,55075,000NilNil120,000Nil21,10033,65090,000 90,00057,50010.03.14 10.03.2104.05.15 04.05.2203.09.12 03.09.1922.03.13 22.03.2010.03.14 10.03.2104.05.15 04.05.2203.09.12 03.09.1922.03.13 22.03.20980.50p906.50pBUSINESS OVERVIEW GROUP OPERATING REVIEW RESPONSIBLE BUSINESS BOARD REPORTSFINANCIAL STATEMENTSIMI plc Annual Report 201265
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ENGINEERINGADVANTAGEIMI plc annual
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IMI is a global engineering group f
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RetailDispense22%FluidControls78%Fa
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UKWesternEuropeEmergingMarketsNorth
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ENGINEERINGADVANTAGELeadership in o
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ENGINEERINGADVANTAGEOUR PERFORMANCE
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ENGINEERINGADVANTAGECHAIRMAN ANDCHI
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ENGINEERINGADVANTAGENOTES TO THE FI
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ENGINEERINGADVANTAGECOMPANY BALANCE
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ENGINEERINGADVANTAGECOMPANY NOTES T
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ENGINEERINGADVANTAGECOMPANY NOTES T
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ENGINEERINGADVANTAGESUBSIDIARY UNDE
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ENGINEERINGADVANTAGEFIVE YEAR SUMMA
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ENGINEERINGADVANTAGESHAREHOLDER INF
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ENGINEERINGADVANTAGEINDEXAccounting
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IMI plcLakesideSolihull ParkwayBirm
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IMI plc annual report 2012

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