REFS is
a mine of invaluable information for the private investor.
Selecting shares without its help is like trying to
clap with one hand tied behind your back.
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Listing
of diectors' holdings
Space permitting,
the list of directors’ holdings includes all notifiable beneficial
holdings in the first share class shown. Directors’ beneficial
holdings of more than 3.00% appear as directors’ holdings, and
not as major shareholders.
Directors’
holdings can appear either as the number of shares held or,
as with major shareholders, be shown as a percentage. If a director
has reported an increased or decreased holding within the past
six months, an indicator (e.g. ‘5+’) is shown alongside the
number or percentage held showing the nature and timing of the
last transaction. Interpretation of this indicator is covered
under the heading ‘
Last significant dealing transaction’.
Full details
of the last transaction, together with any others which have
occurred within the past six months, are provided separately
in the schedule of Directors’ Share Dealings which is found
in the companion Tables Volume.
(NOTE:
Dealings of less than £2,500 in value are ignored, as are ‘bed
& breakfast’ deals and shares issued in lieu of dividends.)
Directors
and their holdings are selected and listed according to the
following hierarchy:
- Executive
Chairman (ch)
- Managing
Director (md) or Chief Executive (ce)
- Finance
Director (fd)
- Non-executive
Chairman *(ch)
- Executive
Directors (in annual report order)
- Non-executive
Directors (in annual report order)
A non-executive
chairman or director is identified with an asterisk. Titles
are abbreviated as above, and qualified by the following prefixes:
vice (v), deputy (d), group (g), and joint (j). Dual roles are
linked with ‘&’, e.g. chairman and joint managing director
(ch & jmd). Other abbreviated titles include:
President (p)
Company Secretary (cs)
Chief Executive Officer (ceo)
Chief Operating Officer (coo)
Sales (s)
Marketing (mkt)
The size
of shareholding is indicated as follows:
under 1,000:
n number of shares
- 000
or more k thousands of shares
- 000,000
or more: m millions of shares
(up to 1.00%)
- 00%
or more % percentage of shares in issue
The listing
of directors’ holdings includes beneficial holdings only. Directors’
non-beneficial holdings are shown only where they are large
(i.e. more than 3.00%), and appear not as directors’ holdings
but as major shareholders under the name of the actual beneficial
holder.
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