Correction: 2013 Annual Report & Accounts

RNS Number : 6681F

Phoenix Group Holdings

28 April 2014

 



Phoenix Group Holdings - Directors' Remuneration Report Update

Phoenix Group Holdings publishes a correction to the Benefits section of the Directors Remuneration Report. Relocation expenses due to Jim McConville as part of his total remuneration were not recorded correctly.

The figure on p71 of the 2013 Annual Report and Accounts should be £83,418. The correct figure for benefits in the single figure table on p83 should be £99,418 for 2013 and £69,142 for  2012.  Note 1 to the single figure table should state " …..for James McConville, an allowance in respect of relocation assistance was payable of £2,000 per month until May 2013, together with on-going reimbursement of travel and accommodation costs (plus associated tax costs)  until 5 April 2014 the total value of which was £73,418 in 2013."

The figure on page 73 of the 2012 Annual Reports and Accounts relating to the benefits received by Mr McConville in 2012 should be £69,142 and Note 1 to that table should state:

 " … for Jim McConville, an allowance in respect of relocation assistance payable until May 2013 of £2,000 per month together with on-going reimbursement of travel and accommodation costs (plus associated tax costs)  until 5 April 2014, the total value of which was £47,142 in 2012."

Further disclosure will be made in the Directors' Remuneration Report in the 2014 Annual Report and Accounts of amounts paid to Mr McConville by way of reimbursement of travel and accommodation costs from 1 January to 5 April 2014 which, together with associated tax costs, were no more than £21,100.

Enquiries

Investors / analysts
Sam Perowne Head of Investor Relations, Phoenix Group	[phone]
Media
Neil Bennett, Peter Ogden, Tom Eckersley, Maitland	[phone]

 

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