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Part of www.page. com We are one of the world’s best known and most respected specialist recruitment consultancies. We deliver recruitment services to clients through a network of 140 offices the interests of spouses, civil partners, of the number of Directors (the (e) notification is received by the Strategic Report across 36 countries. Our vision is to be the leading specialist recruiter in the markets in children, companies and trusts. “Relevant Proportion”) provided that: Company from that person that he is resigning or retiring from his office Borrowing powers of the Directors (i) the provisions of this paragraph which we operate. (b) shall only apply if the as director, and such resignation The Directors shall restrict the number of Directors retiring or retirement has taken effect in borrowings of the Company and under paragraph (a) above accordance with its terms Contents Highlights exercise all powers of control exercisable is less than the Relevant (f) in the case of an Executive by the Company in relation to its Proportion Director, his appointment as such Strategic Report subsidiary undertakings so as to secure (ii) subject to the provisions of is terminated or expires and the Gross profit increase (as regards subsidiary undertakings so Directors resolve that he should 1 Chairman’s Introduction the Act and to the relevant far as by such exercise they can secure) provisions of the Articles of cease to be a Director 3 Overview +3.0%* (up 11.7% in reported rates) that the aggregate principal amount Association, the Directors to (g) that person is absent from 4 Business Model (including any premium payable on final retire under this paragraph Directors’ meetings for more than 7 Strategic Review repayment) outstanding of all money (b) shall be those who have six consecutive months (without Revenue Ordinary and Special Dividend 13 Latin America and the UK borrowed by the Group (excluding been longest in office since permission of the other Directors) 15 KPIs amounts borrowed by any member of their last appointment or and the Directors resolve that he reappointment, but as between should cease to be a Director 18 Q&A with Steve Ingham, CEO £1,196.1m 18.44p the Group from any other member of the Group), shall not at any time, save persons who became or were (h) a notice in writing is served on him 19 Corporate Social Responsibility Corporate Governance 2015: £1,064.9m +3.6%* 2015: 27.5p with the previous sanction of an ordinary last reappointed Directors on signed by all the Directors stating 23 Regional Perspectives resolution of the Company, exceed the same day those to retire that that person shall cease to be 25 Risk Management Structure Gross Profit % Non-UK an amount equal to three times the shall (unless they otherwise a Director with immediate effect agree among themselves) be 27 Principal Risks and Uncertainties aggregate of: determined by lot There is no requirement of share 32 Review of the Year (a) the amount paid up on the share ownership for a Director’s qualification. £621.0m 76.4% capital of the Company If the Company, at the meeting at which Amendments to the articles of Corporate Governance 2015: £556.1m +3.0%* 2015: 72.7% (b) the total of the capital and revenue a director retires by rotation, does not fill association 37 Chairman’s Introduction to reserves of the Group, including the vacancy the retiring Director shall, if Corporate Governance Operating Profit % Non-Accounting and Financial Services any share premium account, willing to act, be deemed to have been Subject to the Act, the Articles of reappointed unless a resolution not to 38 Our Board of Directors capital redemption reserve, capital Association of the Company can be contribution reserve and credit fill the vacancy or not to reappoint that 41 The Executive Board altered by special resolution of the £101.0m 61.6% balance on the profit and loss Director is passed. members. 42 Corporate Governance Report account, but excluding sums set In addition to any power of removal 46 Nomination Committee Report 2015: £90.1m +1.4%* 2015: 60.4% aside for taxation and amounts Winding-up under the Act, the Company may, by attributable to outside shareholders 48 Audit Committee Report special resolution, remove a director If the Company is wound up, the Basic Earnings Per Share Conversion rate in subsidiary undertakings of the 53 Directors’ Remuneration Report – before the expiration of his period of liquidator may, with the sanction of a Annnual Statement Company and deducting any debit special resolution of the Company and balance on the profit and loss office (without prejudice to any claim for any other sanction required by law: 55 Directors’ Remuneration 23.1p 16.3% account, all as shown in the latest damages for breach of any contract of Policy Report (a) divide among the members in kind Financial Statements 2015: 21.3p -1.7%* 2015: 16.2% audited consolidated balance sheet service between the director and the 60 Directors’ Remuneration Report and profit and loss account of the Company) and, subject to the Articles of the whole or any part of the assets of 73 Directors’ Report * In constant currency at prior year rates Group, but adjusted as may be Association, may by ordinary resolution, the Company and, for that purpose, 75 Directors’ Statements necessary in respect of any variation appoint another person who is willing to set such values as he deems fair of Responsibility in the paid up share capital or share act as a director, and is permitted by law upon any property to be divided and Our strategy Business model premium account of the Company to do so, to be a director instead of him. determine how the division shall be since the date of that balance sheet The newly appointed person shall be carried out between the members Financial Statements We have established three categories into PageGroup’s business model has proved itself and further adjusted as may be treated, for the purposes of determining (b) vest the whole or any part of the 76 Independent Auditor’s Report which we have grouped each of our markets both through economic cycles and as the necessary to reflect any change the time at which he or any other assets in trustees upon such 81 Consolidated Income Statement based on criteria including the size of the business has expanded into a global enterprise. since that date in the companies director is to retire as if he had become a trusts for the benefit of members 81 Consolidated Statement of opportunity and the potential for future growth. At its core is a focus on organic growth. comprising the Group director on the day on which the director as the liquidator shall think fit, but no member shall be compelled to Comprehensive Income Director’s appointment, retirement in whose place he is appointed was last accept any assets upon which there 82 Consolidated and Parent and removal appointed or reappointed as a Director. Typically under-developed is a liability Company Balance Sheets Large, markets, but where we have At each annual general meeting, there A Director shall be disqualified from 83 Consolidated Statement of Changes High a successful track record and holding office as soon as: Potential confidence in our ability to scale shall retire from office by rotation: in Equity Agile and (a) that person ceases to be a director our operations substantially. Career responsive (a) all Directors of the Company who 84 Statement of Changes in Equity – development structure held office at the time of the two under the provisions of the Act or Parent Company is prohibited by law from being a preceding annual general meetings Additional Information 85 Consolidated and Parent These are large markets where Director Team and who did not retire by rotation at Company Cash Flow Large, we are already proven with profit-led either of them (b) a bankruptcy order is made against Organic compensation Statements Proven a strong track record and a Global that person significant presence. management Growth (b) such additional number of Directors 86 Notes to the Financial mobility as shall, when aggregated with the (c) a composition is made with that Statements number of Directors retiring under person’s creditors generally in Markets which are, or could be, paragraph (a) above, equal either satisfaction of that person’s debts significant profit contributors Productivity-led Additional Information Small Experienced expansion one third of the number of Directors, (d) by reason of that person’s mental with attractive conversion management pool 113 Shareholder information and and Medium, in circumstances where the number health, a court makes an order which High Margin margins, but are unlikely (or not of Directors is three or a multiple of wholly or partly prevents that person advisers yet proven) to be able to grow to three, or in all other circumstances, from personally exercising any more than 300 fee earners. the whole number which is nearest powers or rights which that person to but does not exceed one-third would otherwise have PageGroup Annual Report 2016 PageGroup Annual Report 2016 116 Where we operate UK Strategic Report Countries across 27 Offices the world NORTH 1,411 36 AMERICA employees 10 Offices Headcount 389 EMEA employees 63 Offices 2,553 6,099 employees ASIA 17 Offices 865 EMEA (44% of Group) employees LATIN AMERICA 15 Offices £272m 541 AUSTRALASIA employees Gross Profit 8 Offices Page 23 for EMEA Performance Review 340 Corporate Governance employees Corporate Governance UK (24% of Group) £146m Gross profit Sustainability Gross Profit by discipline Being a responsible corporate citizen is not Page 23 for the UK Performance Review only the right thing to do, it is good for the long-term health of our business.

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