Directors’ remuneration report
Introduction
This is the directors’ remuneration report of International Personal Finance plc (‘the Company’) which has been prepared pursuant to, and in accordance with, section 234B of the Companies Act 1985 (‘the Companies Act’). In accordance with section 241 of the Companies Act, a resolution to approve this report will be proposed at the annual general meeting (‘AGM’) of the Company to be held on 13 May 2009.
Unaudited information
The following information, comprising details of the remuneration committee and its work, the statement of the Company’s policy on directors’ remuneration, the directors’ service agreements and the performance graph, is unaudited.
The remuneration committee
Members and attendance
The members and their attendance at committee meetings in 2008 were as follows:
| Name | Number of meetings | Number attended |
|---|---|---|
| Ray Miles (Chairman) | 7 | 7 |
| Tony Hales | 7 | 7 |
| Nick Page | 7 | 7 |
Remit
Its remit is:
- to consider the framework of executive remuneration and make recommendations to the board;
- to determine the specific remuneration packages and conditions of service of the Chairman, the executive directors and the Company Secretary, including their service agreements; and
- to monitor the level and structure of the remuneration of the most senior management below board level within the Group.
Other matters
The committee has appointed Kepler Associates (‘Kepler’) as remuneration consultant. Kepler is independent and does not provide any other services to the Group. The Chairman of the Company and the Chief Executive Officer each normally attends and speaks at meetings of the committee (other than when his own remuneration or any matter relating to him is being considered). No director is involved in determining his own remuneration. The Company Secretary, Rosamond Marshall Smith, is secretary to the committee and attended the meetings of the committee in 2008; as a solicitor she provides legal and technical support to the committee.