Section 430 (2B) Companies Act 2006 Statements


The following information is provided in accordance with section 430(2B) of the Companies Act 2006 and will remain available on the Company's website until the Company's next annual directors' remuneration report is published.

23 May 2019 - Ian Cormack

As announced on 12 March 2019, Ian Cormack stated his intention not to seek re-election as a non-executive director of the Company at its Annual General Meeting on 23 May 2019. Ian subsequently stepped down from the Board on that date (“Termination Date”).

Ian received his contractual entitlements, on a pro-rata basis up to, but not beyond, the Termination Date; he did not receive any additional payment for loss of office.

Full details of Ian Cormack’s remuneration as a non-executive director for the period 1 January to 23 May 2019 will be included in the directors' remuneration report in the Company’s Annual Report and Accounts for the year ending 31 December 2019.

10 May 2019 - Richard Hoskins

As announced on 11 January 2019, Richard Hoskins stated his intention to retire from office as the Company’s Chief Financial Officer. He subsequently stepped down as a director of the Company on 10 May 2019, although remained an employee of the Company until 31 May 2019 (“Termination Date”) to ensure a smooth handover of duties to his successor.

Richard received his contractual entitlements, on a pro-rata basis up to, but not beyond, the Termination Date; he did not receive any additional payment for loss of office. In addition, Richard will be eligible to be considered for a pro-rata annual performance bonus payment for 2019.

Share Awards
Richard Hoskins will be treated as a good leaver under the Hastings Long-Term Incentive Plan (“LTIP”) in accordance with plan rules, and his deferred bonus awards will vest in line with the plan rules.

LTIP Awards 1 Number of Shares
(adjusted pro-rata for period of service)
Vest Date
Conditional share award - 2017 241,554 March 2020
Conditional share award - 2018 120,941 March 2021

1 LTIP awards remain subject to performance conditions and the number of shares issued on vesting will be reduced if performance targets are not achieved.

Deferred Bonus Awards Number of Shares Vest Date
Conditional share award
(relating to 2016 financial year)
16,658 March 2020
Conditional share award
(relating to 2017 financial year)
17,109 March 2021
Conditional share award
(relating to 2018 financial year)
7,944 March 2021

Full details of Richard Hoskins’ remuneration as an executive director for the period 1 January to 10 May 2019 will be included in the directors' remuneration report in the Company’s Annual Report and Accounts for the year ending 31 December 2019.