REG - Carr's Group PLC - Directors' Remuneration Report - Correction

Carr'sAnnouncement

30/01/2025 18:00

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RNS Number : 3587V  Carr's Group PLC  30 January 2025

 

 

30 January 2025

Carr's Group plc

("Carr's", the "Company", or the "Group")

Directors' Remuneration Report - Correction

 

Further to the publication of the Company's Annual Report and Accounts for the
year ended 31 August 2024, the Company advises that the Remuneration Committee
Report contains errors regarding the CEO's pay.  There is no impact on the
Company's profit, balance sheet, earnings per share or other financial
information in the Accounts.

David White's bonus of £79,854.25 for FY24 was correctly stated on page 103,
however, the table on page 101 erroneously states that his bonus was £17,000,
and thus his total remuneration £327,000.  The corrected extract of the
table is below.

 

 £'000                                         Salary/Fees     Benefits      Pension     Total fixed pay     Bonus       LTIP        Total variable pay      Total remuneration

                                               FY24    FY23    FY24   FY23   FY24  FY23  FY24      FY23      FY24  FY23  FY24  FY23  FY24        FY23        FY24        FY23
 Executive Directors
 David White (#RANGE!#N/A) (1 (#RANGE!#N/A) )  290     142     9      1      12    10    311       153       80    22    -     -     80          22          391         175

 

Consequently, the information in the final table on page 107 (Assessing Pay
and Performance) has also been corrected as per the extract below, with
footnote 6 being replaced by the following: "As CEO from 17 November 2023.
Figures above represent tenure as CEO only.".

 

                                                                    FY15         FY16     FY17         FY18         FY19         FY20         FY21         FY21             FY22           FY22 Peter Page(3)  FY23            FY24            FY24

                                                                    Tim Davies   Tim      Tim Davies   Tim Davies   Tim Davies   Tim Davies   Tim Davies   Hugh Pelham(1)   Hugh Pelham2                       Peter Page(4)   Peter Page(5)   David White(6)

                                                                                 Davies
 Single figure of total remuneration                                911          531      308          861          764          508          259          244              210            312                 368             475             322
 Annual variable element (actual award versus maximum opportunity)  100%         55%      0%           100%         60.41%       15%          100%         0%               N/A            0%                  0%              0%              25%

 

In addition, the information in the first table on page 108 (Change in
Directors' Remuneration) has also been corrected as per the extracts below,
with footnote 1 being replaced by the following: "David White was CFO from 21
February 2023 until 17 November 2023 and CEO from 17 November 2023 (figures
are on an annualised basis). No comparatives exist in respect of CEO benefits
and bonus for FY24 as former CEO, Peter Page, did not receive any benefits or
bonus in FY23.".

 

                       Base pay/fees  Benefits  Annual bonus
 Current Directors*

 David White(1) (CFO)  5%             0%        180%
 David White(1) (CEO)  -13%           N/A       N/A

 

                     Base pay/fees  Benefits  Annual bonus
 Other UK employees  5%             N/A       -4%

 

An updated version of the Company's FY24 Annual Report and Accounts will be
available on the Company's website at  www.carrsgroup-ir.com
(http://www.carrsgroup-ir.com)   and will be submitted to the National
Storage Mechanism at  https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism)

Enquiries:

 Carr's Group plc                      01228 554 600

Justin Richards (Company Secretary)

 

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