RBS 2009 Annual Report Download - page 215

213RBS Group Annual Report and Accounts 2009
Governance
Charitable contributions
In 2009 the Group’s overall community contribution was £63.9 million
(2008 – £66.3 million). The total amount given for charitable purposes by
the company and its subsidiary undertakings during the year ended
31 December 2009 was £34.7 million (2008 – £24.8 million).
To ensure it makes its community investments as effective as possible,
the Group’s policy is to focus its resources on a small number of
substantial strategic programmes. These are issues most relevant to a
financial institution and relate broadly to financial education, supporting
enterprise and microfinance and the charitable endeavours of
employees.
Political donations
At the Annual General Meeting in 2006, shareholders gave authority, for
a period of four years, 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, the provisions of which
are largely restated in the Companies Act 2006. This authority has not
been used and will be refreshed at the forthcoming Annual General
Meeting.
No EU political donations were made, nor EU political expenditure
incurred, 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 2009, the Group’s trade creditors represented 30 days
(2008 – 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 auditors
will be proposed at the forthcoming Annual General Meeting.
By order of the Board
Miller McLean
Secretary
24 February 2010
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 2009.
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 39,644,835,194 70.33 Bassett-Patrick Securities Limited (1) 46,255 11.56
B shares E M Behrens Charitable Trust 20,000 5.00
Solicitor For The Affairs of Trustees of The Stephen Cockburn
Her Majesty’s Treasury Limited Pension Scheme 19,879 4.97
As Nominee for Mrs Gina Wild 19,800 4.95
Her Majesty’s Treasury 51,000,000,000 100.00 Miss Elizabeth Hill 16,124 4.03
11% cumulative preference shares Mr W T Hardison Jr. 13,532 3.38
Guardian Royal Exchange Assurance plc 129,830 25.97
Windsor Life Assurance Company Limited 51,510 10.30
Cleaning Tokens Limited 25,500 5.10
Mr S J and Mrs J A Cockburn 15,520 3.10
Mr Stephen J Cockburn 15,290 3.06
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.