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Relevant.AnnualReviewThissummarygivesshareholdersaconciseandeasytounderstandoverviewoftheGroupsremunerationoutcomesforthe2011nancialyearandincludesinformationontheactualvalueofremunerationreceivedbyseniorexecutives.ThedetailedstatutoryremunerationdisclosuresarecontainedintheRemunerationReport.TheBoardonrecommendationoftheGovernanceHRCommitteeapprovedthe2011remunerationarrangementsforseniorexecutivesandtheshorttermincentivearrangementfortheManagingDirectorinAugust2010.TheManagingDirectorsxedandlongtermincentivearrangementsweresetin2009.InAugust2011theBoardonrecommendationoftheGovernanceHRCommitteeapprovedthegroupbonuspoolestablishedforthepaymentofshorttermincentivesandbonuspaymentstostaffincludingtheManagingDirectorandseniorexecutives.TheamountsetasideforthebonuspooltookintoaccountkeynancialandriskmeasuresasexplainedintheRemunerationReport.TherewerenochangestotheCompanysremunerationpolicyorframeworkduringtheyear.Thebasenon-executivedirectorfeewasincreasedby3.5from125000perannumto129375perannum.Therewerenoadditionalfeepaymentsforboardcommitteememberships.Inadditionthenon-executivedirectorsagaincontributed5000oftheirannualfeepaymenttofundaboardscholarshipfordisadvantagedstudents.Thepayfreezehasbeenliftedforthe2011nancialyearinlightofimprovedtradingperformanceandoutlookfortheCompany.TheBoardapprovedchangestoseniorexecutiveremunerationarrangementsinAugust2010toreectchangesinseniorexecutiverolesresponsibilitiesmarketrelativitiesandtore-alignthemixofvariablepaybetweenshortandlongterm.TheoverallincreaseinxedremunerationforallseniorexecutivesandotherdirectreportstotheManagingDirectorwas6.1.TheCompanysoverallperformancefortheyearsubstantiallyachievedthetargetssetbytheBoard.TheCompanyannouncedastatutoryafter-taxprotof342.1millionfortheyear.TheCompanyscashearningsresultwas336.2milliona10.8increaseonthepreviousnancialyear.Thecashearningsresultequatedto92.3centspershareandrepresentsa15.5increaseonthepreviousnancialyear.TheCompanyssharepriceimprovedby68cents8andtheCompanysannualdividendincreasedby2cents3to60cents.InlinewiththeaboveimprovedperformanceandtakingintoaccountthepooloffundsapprovedbytheBoardforthepaymentofstaffbonusesandindividualexecutiveperformanceseniorexecutivesreceivedtheannualcashbonusallocationsassetoutinthebelowtable.Athirdofthesepaymentswillbedeferredintoequityinthecompanyforatwoyearrestrictionperiod.ShareholdersapprovedanissueofveequalannualparcelsofperformancesharestotheManagingDirectoratthe2009AnnualGeneralMeetingAGMwithaveyearperformanceperiod.Nofurthergrantsareproposedduringtheperformanceperiod.TheBoardalsoapprovedanissueofthreeequalannualparcelsofperformancesharestootherexecutivesfollowingthe2009AGMwithathreeyearperformanceperiod.Thesharesaresubjecttoafurthertwoyeartradingrestriction.DuringtheyeartheBoardapprovedasupplementarygranttoseniorexecutivestoreectchangesinseniorexecutiverolesmarketrelativitiesandtore-alignthemixofshortandlongtermincentivecomponents.HalfofeachannualparcelofperformancesharesissubjecttoearningspershareandtotalshareholderreturnTSRtests.TheTSRtestforthe2011parcelwaspartiallymetand65ofthoseperformancesharesvested.Theremainingallocationwillbere-testedaspartofthe2012allocation.TheotherhalfofeachannualparcelofperformancesharesissubjecttotheexecutivescontinuedemploymentwiththeCompany.Therelevantemploymentdateunderthegrantwas30June2011andaccordinglythe2011parcelvestedforexecutiveswhoreceivedthegrantandwereemployedbytheCompanyon30June2011.Theexecutiveincentiveplanestablishedin2006underwhichexecutiveswereissuedperformancesharesandoptionswithathreeyearperformanceperiodhasbeendiscontinuedforfuturegrants.Grantsweremadeinthe20072008and2009nancialyears.Onthebasisoftheachievementoftheperformancemeasuresnoneofthe2007grantvestedsomeofthe2008performancerightsvestedbutnoneofthe2008optionsvested.Noneofthe2009granthasvested.302011RemunerationReviewSummaryoremunerationoutcomes2011201011OutcomesRemunerationoversightapprovalRemunerationpolicyNonexecutivedirectoreesSeniorexecutivesalariesCompanyperormanceShorttermincentiveLongtermincentiveSalarySacrifceDeerredSharePerormanceSharePlanExecutiveIncentivePlandiscontinued