GPG Group and Coats plc
Download Full Year Results Presentation PDF - Coats plc
Download Full Year Results Presentation PDF - Coats plc
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Overhead analysis <strong>and</strong> progressO V E R H E A D A N A LY S I S & P R O G R E S S• Headcount at 31 December 2012 - 15 executivemanagement <strong>and</strong> administration employees:– 3 dedicated investment professionals– 9 finance, legal <strong>and</strong> administrative staff– 3 support staff• Other staff incentives represent cost of staffretention <strong>and</strong> reward programmes <strong>and</strong> futureredundancies• Costs being spread over period that services areprovided• Certain incentives dependent on outcome of assetrealisation exercise• Following the October 2012 announcement of thetransition to New <strong>Coats</strong>, work streams have beenestablished to ensure the efficient rundown of<strong>GPG</strong>’s corporate offices <strong>and</strong> the migration ofadministration responsibility to the <strong>Coats</strong>management teamOne-off advisors' fees relating to thestrategic review <strong>and</strong> return of capitalCost of redundancies arising in theperiodYear ended31 Dec 2012£mYear ended31 Dec 2011£m- 91 2Other staff incentives 6 6Regular staff costs 5 7NED fees 1 1Legal & professional 3 4Bank facility fees 1 2Property costs 2 2Legacy & other costs 2 2Total £m 21 35Total NZ$m 41 69© <strong>GPG</strong> <strong>Group</strong> <strong>and</strong> <strong>Coats</strong> <strong>plc</strong> | Financial results for year ending 31 December 2012 Page 12
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