Notes to the accounts
for the year ended 31 December 2007
6. Directors
(a) Total emoluments
The aggregate emoluments of the Directors amounted to £10.1 million (2006: £7.4 million). The aggregate of employer contributions to defined contribution arrangements in respect of the Directors during the year was £0.1 million (2006: £0.2 million). Details of retirement benefits accruing under defined contribution arrangements and under the defined benefit section of the Scheme are provided in the remuneration report. The emoluments of the highest paid Director during the year amounted to £3.3 million (2006: £2.5 million). There were 230,063 (2006: 156,185) market value share options exercised during 2007 resulting in a gain of £1.1million (2006: £0.5 million). There were 16,294 (2006: 64,826) nil cost options exercised during 2007, resulting in a gain of £0.2 million (2006: £0.7 million). There are no severance payments included in the emoluments for 2007 (2006: £nil). Further details relating to emoluments paid to Directors are given in the remuneration report.
(b) Rights to deferred cash and shares
Details of Directors' rights to deferred cash and shares are provided in the remuneration report.
(c) Directors' loans
Under the Companies Act 1985, Schroder & Co. Limited is permitted as a banking company to make loans to Directors of the Company. There were no loans outstanding at 31 December 2007 (2006: nil) to Directors which need to be disclosed pursuant to the Act.