The information to be disclosed in the directors report/Financial Statements on interests in shares or debentures in the company or any other group undertakings is detailed in S.329 Companies Act 2014.
Disclosure required of interests in shares or debentures under S.329 Companies Act 2014 is disclosure of:
- Each person interests who at the end of the year and the comparative period end was a director or secretary (including shadow and de-facto directors).
- The interest in shares or debentures including the number, share type and the amount at the start of the period, the end of the period or at the date the person became a director if this was after the start of the period. The same disclosures should be provided for the comparative financial period presented.
- Include interests in other group companies and detail the name of the other group companies disclosing the number, share type and the amount at the start of the period, the end of the period or at the date the person became a director if this was after the start of the period. The same disclosures should be provided for the comparative financial period presented.
- This interests include disclosure of share options granted to a director or secretary and shares acquired through the exercise of share options.
- This disclosure is only required where the directors and secretary have a disclosable interest which is defined as an interest in shares or share options of that company or any group company provided the interest is in voting shares and comprises more than 1% of the nominal value of a class of share (S.260(f) Companies Act 2014). This 1% rule is new under Companies Act 2014 as previously there was no such relief instead the interest had to be disclosed.