home

Compliance with Section 430(2B) Companies Act 2006 - Anglo Pacific Group

In accordance with section 430(2B) of the Companies Act 2006 and further to the announcement of today’s date, Anglo Pacific Group PLC (the “Company”) confirms that John Theobald and Arthur Christopher Orchard will receive the payments set out below after ceasing to be directors.
Mr Theobald will receive an amount of £193,167 consisting of:· his annual salary as Chief Executive Officer of the Company of £190,000 per annum up to 30 November 2013 together with a pension contribution of 10% of salary up to that date; and· in accordance with his employment contract, a payment in lieu of notice and a termination payment equivalent to six months’ salary.
Mr Orchard will receive an amount of £163,767 consisting of:· his annual salary as Chief Investment Officer of the Company of £170,000 per annum up to 31 October 2013 together with an additional 10% of salary in lieu of pension contribution up to that date; and· in accordance with his employment contract, a payment in lieu of notice and a termination payment equivalent to six months’ salary.
Both Mr Theobald and Mr Orchard will also receive a payment of £2,400 each as a contribution to legal fees incurred by them in connection with their departures.  
All payments will be made after deduction of tax and national insurance contributions as required by law.