RBS 2007 Annual Report Download - page 100

RBS Group • Annual Report and Accounts 2007
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Report of the directors continued
Governance
Charitable contributions
In 2007 the contribution to the Group’s Community Investment
programmes was £57.7 million (2006 – £58.6 million).
The total amount given for charitable purposes by the company
and its subsidiary undertakings during the year ended
31 December 2007 was £32.1 million (2006 – £25.4 million).
Political donations
At the Annual General Meeting in 2006, shareholders gave
authority for the company to make political donations and incur
political expenditure up to a maximum aggregate sum of
£500,000 as a precautionary measure in light of the wide
definitions in The Political Parties, Elections and Referendums
Act 2000, for a period of four years. These authorities have not
been used.
No political donations were made during the year and it is not
proposed that the Group’s longstanding policy of not making
contributions to any political party be changed.
Policy and practice on payment of creditors
The Group is committed to maintaining a sound commercial
relationship with its suppliers. Consequently, it is the Group’s
policy to negotiate and agree terms and conditions with its
suppliers, which includes the giving of an undertaking to pay
suppliers within 30 days of receipt of a correctly prepared
invoice submitted in accordance with the terms of the contract
or such other payment period as may be agreed.
At 31 December 2007, the Group’s trade creditors represented
30 days (2006 – 28 days) of amounts invoiced by suppliers.
Auditors
The auditors, Deloitte & Touche LLP, have indicated their
willingness to continue in office. A resolution to re-appoint
Deloitte & Touche LLP as the company’s auditor will be
proposed at the forthcoming Annual General Meeting.
By order of the Board.
Miller McLean
Secretary
27 February 2008
The Royal Bank of Scotland Group plc
is registered in Scotland No. 45551.
Shareholdings
The table below shows the shareholders that have notified us that they hold more than 3% of the voting rights in the undernoted classes
of shares.
Number of shares % held Number of shares % held
Ordinary shares: 51⁄2% cumulative preference shares:
Legal & General Group plc 504,686,799 5.04 Mr P S and Mrs J M Allen;
11% cumulative preference shares: Miss C L Allen, and Miss J C Allen 451,796 28.23
Guardian Royal Exchange Assurance plc 129,830 25.97 Commercial Union Assurance plc 91,429 22.86
Windsor Life Assurance Company Limited 51,510 10.30 Bassett-Patrick Securities Limited* 46,255 11.56
Mr S. J. and Mrs J. A. Cockburn 15,520 3.10 E M Behrens Charitable Trust 20,000 5.00
Mr Stephen J Cockburn 15,290 3.06 Mrs Gina Wild 19,800 4.95
Cleaning Tokens Limited 25,500 5.10 Trustees of The Stephen Cockburn
Limited Pension Scheme 19,879 4.97
Miss Elizabeth Hill 16,124 4.03
Mr W. T. Hardison Jr. 13,532 3.38
*Notification has been received on behalf of Mr A. W. R. Medlock and Mrs H. M. Medlock that they each have an interest in the holding
of 51⁄2% cumulative preference shares registered in the name of Bassett-Patrick Securities Limited noted above and that there are
further holdings of 5,300 and 5,000 shares, respectively, of that class registered in each of their names.