Report of the Directors
The Directors present herewith their Annual Report, together with the audited Financial statements of the Group for the year ended 30 June 2024. Principal activities and business review Brooks Macdonald specialises in providing investment management services in the UK and internationally. The Company is a public limited company whose shares are traded on the Alternative Investment Market (“AIM”) of the London Stock Exchange. A review of the business, together with its strategic outlook and future developments is set out in the Strategic report on pages 8 to 58, which is incorporated by reference in this Report. Section 172, employee and other stakeholder engagement When making decisions and setting the Company’s strategy, the Directors of Brooks Macdonald consider the long-term interests of the Group. In doing so, they weigh the competing interests of the Company’s stakeholders and the effect their decisions may have on the Company’s reputation. Further information on how the Company considers the interests of its stakeholders can be found on pages 21 to 25 and more details of how the Company seeks to limit its impact on the environment are provided in the Responsible business report starting on page 44.
Results and dividends
Directors and their interests
statements. Our Employee Sharesave Scheme is administered by Computershare. Our share-based long-term incentive plans are administered by Investec. Employee Benefit Trust In 2010, the Group established an Employee Benefit Trust (“EBT”) to acquire shares in the Company to satisfy awards made under the Group’s share-based incentive schemes. JTC Employer Solutions Trustee Limited acts as the trustee of the EBT. During the year, the EBT purchased 123,918 shares and sold or transferred out 254,613 shares.
The Group’s statutory profit before taxation for the year ended 30 June 2024 was £11,618,000 (FY23: £22,239,000) and the statutory profit after taxation was £6,457,000 (FY23: £18,149,000). The Directors recommend a final dividend of 49.0p (FY23: 47.0p) per share subject to approval by the shareholders at the AGM on 24 October 2024. Once approved, this will be paid on 1 November 2024 to shareholders on the Company’s register at close of business on 20 September 2024. An interim dividend of 29.0p (FY23: 28.0p) per share was paid on 16 April 2024. This results in total dividends for the year ended 30 June 2024 of 78.0p (FY23: 75.0p) per share, representing a total estimated distribution to shareholders of £7,865,000 (FY23: £7,448,000). Share capital Details of the Company’s authorised and issued share capital, and movements thereof, are set out in Note 28 of the Consolidated financial statements. The Company has no preference shares in issue and has one class of ordinary shares, which carry no right to fixed income. There are no specific restrictions on the size of a holding nor on the transfer of shares, which are both governed by the general provisions of the Articles of Association and prevailing legislation. The Directors are not aware of any agreements between holders of the Company’s shares that may result in restrictions on the transfer of securities or on voting rights.
The Directors of the Company, who were in office during the year and up to the date of signing the Financial statements, are listed below, together with their beneficial interests in the share capital of the Company. Details of share options held by the Directors at the beginning and end of the year can be found in the Remuneration Committee report on pages 78 to 96. Employee share plans Details of employee share plans are outlined in Note 30 to the Consolidated financial
At 30 June 2024
At 30 June 2023
Number of shares
Chair Maarten Slendebroek 1
–
N/A
Acting Chair Richard Price 2
N/A
1,450
Executives Andrew Shepherd 3 Andrea Montague 4 Non-Executives John Linwood Dagmar Kershaw Robert Burgess James Rawlingson
39,733
51,997
–
N/A
300 840
300 840
3,044
3,044
500
500
1 Maarten Slendebroek was appointed on 27 November 2023. 2 Resigned as Acting Chair and as a Director on 12 March 2024.
3 As at 30 June 2024, Andrew Shepherd held 20,254 share options that had vested, but had not yet been exercised, net of tax.
4 Andrea Montague was appointed on 1 August 2023.
100 Brooks Macdonald Group plc Annual Report and Accounts 2024
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