The Board encourages and seeks to build up a mutual understanding of objectives between the Group and its institutional shareholders. As part of this process, the Non-Executive Chairman, Chief Executive, Group Finance Director and Joint Chief Operating Officers make regular presentations and meet with institutional shareholders to discuss any issues of concern, to obtain feedback and to consider Corporate Governance issues. All the Non-Executive Directors are available to meet with shareholders to understand their views more fully. The Non-Executive Chairman and the Senior Non-Executive Director are personally available to the significant shareholders in the Group.

The Corporate Communications team has effective day-to-day responsibility for managing shareholder communications and always acts in close consultation with the Board. A Disclosure Committee consisting of the Corporate Communications Director, Chief Executive and Group Finance Director ensures all appropriate communications are made to the London Stock Exchange and shareholders. Shareholders can also access up-to-date information through the investor centre section of the Company’s website. A telephone helpline, 0870 162 3100, provides a contact point directly to the Group’s registrars.

All members of the Board, including Non-Executive Directors, receive a report on any significant discussions with shareholders and the feedback that follows the half yearly presentations to investment analysts and shareholders is also circulated. All brokers’ reports and analysts’ briefings are circulated to Directors.

The Board encourages shareholders to attend its Annual General Meeting.
Directors, including the chairmen of the various committees, are present to answer any questions from shareholders. The Group uses the Annual General Meeting to communicate with private investors and encourages their participation.