RBS 2008 Annual Report Download - page 153

RBS Group Annual Report and Accounts 2008152
Report of the directors continued
Charitable contributions
In 2008 the contribution to the Group’s Community Investment
programmes was £66.3 million (2007 – £57.7 million). The total amount
given for charitable purposes by the company and its subsidiary
undertakings during the year ended 31 December 2008 was £24.8
million (2007 – £32.1 million).
The company’s community investment is focused on the issues most
relevant to it as a financial institution, including preventing exclusion
from banking services, promoting financial understanding and
supporting small businesses and entrepreneurs.
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 2008, the Group’s trade creditors represented 30 days
(2007 – 30 days) of amounts invoiced by suppliers.
Auditors
The auditors, Deloitte LLP, have indicated their willingness to continue in
office. A resolution to re-appoint Deloitte LLP as the company’s auditor
will be proposed at the forthcoming Annual General Meeting.
By order of the Board
Miller McLean
Secretary
25 February 2009
The Royal Bank of Scotland Group plc
is registered in Scotland No. 45551.
Shareholdings
The table below shows the shareholders that have notified the Group that they hold more than 3% of the voting rights in the undernoted classes of
shares as at 31 December 2008.
Number of shares % held Number of shares % held
Ordinary shares: 51⁄2% cumulative preference shares:
Solicitor For The Affairs of Mr P S and Mrs J M Allen;
Her Majesty’s Treasury Miss C L Allen, and Miss J C Allen 112,949 28.23
As Nominee for Commercial Union Assurance plc 91,429 22.86
Her Majesty’s Treasury 22,853,798,818 57.92 Bassett-Patrick Securities Limited (1) 46,255 11.56
11% cumulative preference shares: E M Behrens Charitable Trust 20,000 5.00
Guardian Royal Exchange Assurance plc 129,830 25.97 Trustees of The Stephen Cockburn
Windsor Life Assurance Company Limited 51,510 10.30 Limited Pension Scheme 19,879 4.97
Cleaning Tokens Limited 25,500 5.10 Mrs Gina Wild 19,800 4.95
Mr S J and Mrs J A Cockburn 15,520 3.10 Miss Elizabeth Hill 16,124 4.03
Mr Stephen J Cockburn 15,290 3.06 Mr W T Hardison Jr. 13,532 3.38
Note:
(1) 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.