Remuneration Report

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The market price of the ordinary shares at 31 December 2007 was 203.25 pence and the range during the year was 182 pence to 518.5 pence.

Directors’ interests in shares of the Company

Directors’ interests in 25 pence ordinary shares held (fully paid):

at 1.1.07
25p ordinary
at 31.12.07
25p ordinary
Executive Directors’
share interests at
31 December 07
expressed as a
percentage of
basic salary
Norman Askew 9,974 15,674
Pete Redfern 57,526 92,705 27%
Peter Johnson 94,407* 322,443* 149%
Ian Sutcliffe 0 5,341 3%
Mike Davies 5,000 15,000
Brenda Dean 8,348 8,348
Andrew Dougal 5,000 5,000
Katherine Innes Ker 1,000 1,000
Anthony Reading 14,107 20,000
David Williams 8,269 8,269

† or date of appointment and after applying the Merger ratio of 1.3914 Taylor Wimpey shares for each George Wimpey share.
* Includes 1,250 ordinary shares held by Halifax Corporate Trustees Limited under the Taylor Wimpey 2004 Share Purchase Plan.

Directors’ pension entitlements

Defined benefit schemes

George Wimpey Staff Pension Scheme

Pete Redfern is a member of the George Wimpey Staff Pension Scheme. The following table sets out the transfer value of his accrued benefits under the Scheme calculated in a manner consistent with ‘Retirement Benefit Schemes – Transfer Values (GN11)’ published by the Institute of Actuaries and the Faculty of Actuaries.

Table: George Wimpey Staff Pension Scheme


  1. Pension accrual shown is the amount which would be paid annually on retirement based on service to 31 December 2007.
  2. Transfer values have been calculated in accordance with version 9.2 of the actuarial guidance note GN11.
  3. The increase in the transfer value includes the effect of fluctuations in the transfer value due to factors beyond the control of the Company and Directors, such as stock market movements.
  4. The transfer value of accrued pension increase less Director’s contribution represents the incremental value to the Director of his service during the period, calculated on the assumption service terminated at the year end. It is based on the increase in accrued pension (less inflation) after deducting the Director’s contribution

Money purchase schemes

Peter Johnson is a member of a money purchase scheme, to which contributions were paid by the Company as follows:

Peter Johnson 146,395 98,833

Non-Group Pension Arrangements

Ian Sutcliffe has non-Group pension arrangements, to which contributions were paid by the Company as follows:

Ian Sutcliffe 104,265


This Remuneration Report was approved by the Board of Directors on 5 March 2008 and signed on its behalf by the Remuneration Committee Chairman:

Anthony Reading

5 March 2008

Remuneration Report