RC No. 13215 - Frigoglass

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36 Annual Report 2011 Beta Glass PLC Notes to the financial statements 17 Revaluation reserve 2011 2010 N'000 N'000 At 31 December 898,957 898,957 18 Furnace rebuilt reserve 2011 2010 N'000 N'000 At 31 December 2,429,942 2,429,942 19 Revenue reserve 2011 2010 Note N'000 N'000 At 1 January 5,925,073 4,632,619 Prior year dividend (Note 8) 8 (189,989) (179,990) Retained profit for the year 1,545,780 1,472,444 At 31 December 7,280,864 5,925,073 In respect of the current year, the Directors propose that a dividend of 40 kobo per ordinary share be paid to shareholders. The dividend of N199,988,800 is subject to approval by shareholders at the Annual General Meeting. Withholding tax at the appropriate rate will be deducted at source from the dividend. Consequently, the dividend has not been included as a liability in these financial statements. 20 Information relating to directors and employees 20.1 Directors 2011 2010 N'000 N'000 Directors' emoluments comprise: Fees Chairman 235 150 Non-executives 930 643 Other emoluments 7,221 1,285 The number of Directors excluding the Chairman with gross fee within the bands stated below were: 8,386 2,078 2011 2010 Naira Number Number 100,001 - 155,000 8 8 155,001 - 235,000 - -
Beta Glass PLC Annual Report 2011 37 20.2 Employees 2011 2010 Number Number Number of persons employed as at year end: Management 280 279 Factory 384 340 Sales and administartion 12 28 676 647 The total employee benefit expenses in the year comprise the following: Salaries and wages 1,221,826 1,090,153 Other employee costs and benefits 90,690 102,265 Retirement benefits cost 433,384 307,498 1,745,900 1,499,916 The following items are included within retirement benefits costs: - Defined contribution scheme 64,710 47,772 - Defined benefit scheme 368,674 259,726 433,384 307,498 The number of the employees in Nigeria with gross emoluments excluding retirement benefits within the bands stated below were: 2011 2010 Naira Number Number 400,001 - 600,000 125 127 600,001 - 800,000 80 150 800,001 - 1,000,000 131 131 1,000,001 - 1,200,000 107 57 1,200,001 - 1,400,000 62 56 1,400,001 - 1,600,000 42 32 1,600,001 - 1,800,000 26 14 1,800,001 - 2,000,000 13 18 2,000,001 - 2,500,000 30 24 2,500,001 - 3,000,000 20 11 3,000,000 and above 40 27 21 Commitments Capital expenditure contracted for at the balance sheet date but not recognised in the financial statements is as follows: 676 647 2011 2010 N'000 N'000 Authorised and contracted - - Authorised but not contracted - - - -
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Page 35: Beta Glass PLC 13 Other creditors a
Page 43 and 44: Proxy form I/We* (BLOCK CAPITALS) b
Page 45: Electronic Delivery Mandate Form I,
Page 49: e-Dividend form It is our pleasure
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RC No. 13215 - Frigoglass

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