Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Tate & Lyle PLC (TATE)

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Friday 07 December, 2012

Tate & Lyle PLC

Tate & Lyle Group Pension Scheme agrees £3...

Tate & Lyle Group Pension Scheme agrees £347 million partial pensioner buy-in

Tate & Lyle PLC

7 December 2012 – Tate & Lyle PLC

Tate & Lyle Group Pension Scheme agrees £347 million partial pensioner buy-in

Tate & Lyle PLC ("Tate & Lyle") announces that the Trustee of the Tate & Lyle Group Pension Scheme, Tate & Lyle's principal UK defined benefit scheme ("the Group Scheme") has agreed a £347 million partial pensioner buy-in of approximately 43% of total pensioner liabilities with Legal & General plc ("L&G"), which effectively hedges these liabilities in full.

Tim Lodge, Tate & Lyle’s Chief Financial Officer, said "Tate & Lyle is committed to meeting our pension commitments to existing and former colleagues. We are delighted the Group Scheme Trustee has secured this agreement with L&G, well known as a high-quality long-standing annuity provider. This transaction is an important step in our strategy to work with our schemes’ trustees and fiduciaries to reduce pension risk on a phased basis over time.”

The buy-in effectively covers around 43% of the Group Scheme’s total pensioner liabilities and represents approximately 30% of the Scheme’s total liabilities based on the ‘Technical Provisions’ assumptions agreed with the Trustee at the last triennial valuation updated for current market conditions.

The buy-in involves the purchase of a bulk annuity policy under which L&G will pay to the Trustee amounts equivalent to the benefits payable to three out of every seven of the Group Scheme’s pensioner members (“the Buy-In Members”). The premium for the annuity policy is £347 million and will be paid by the Trustee in a combination of assets and cash from the Group Scheme. It is anticipated that there will be no material impact on the Group’s cash flows or adjusted (note 1) earnings as a result of the partial buy-in.

The pension liabilities for the Buy-In Members remain with the Group Scheme, and the matching L&G annuity policy will be held within the Group Scheme as an investment of the Trustee, so the benefits of Group Scheme members are unaffected by this transaction and members will not see any changes in the way their pensions are paid.

Note 1 adjusted earnings exclude exceptional items, post-retirement benefit interest and amortisation of intangible assets acquired through business combinations


For more information contact Tate & Lyle PLC:

Mathew Wootton, Group VP, Investor and Media Relations

Tel: +44 (0) 20 7257 2110 or Mobile: +44 (0) 7500 100 320


Andrew Lorenz (FTI Consulting), Media Relations

Tel: +44 (0) 20 7269 7113 or Mobile: +44 (0) 7775 641 807

Note to editors

As at 30 September 2012, Tate & Lyle had recognised a total gross retirement benefit asset of £1,375 million and total gross liabilities of £1,592 million under the IFRS accounting rules, of which £932 million and £828 million related to the Group Scheme.

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