Simon Boddie

Guinness Peat Group plc is an investment holding company with a diversified range of strategic interests in a number of businesses, mainly in Europe and Australasia. GPG is listed on the London, Australian and New Zealand Stock Exchanges. As at 31 December 2011, it had a market capitalisation of approximately £462 million. Shareholders’ Funds at the same date were £602 million. GPG’s investments in various sectors include financial services, food processing, building materials, property development and pub operators and GPG also owns Coats plc (www.coats.com), the world market leader in industrial yarns and threads and textile consumer crafts. On 11 February 2011 the Company announced its intention to undertake an orderly value realisation of its investment portfolio over time. Since that time the Board and management have devoted their efforts to the implementation of a strategy directed towards turning assets held into cash at values reasonably commensurate with their underlying value given risk and timing considerations. The Board has signalled that the working assumption is that Coats will be a substantial residual asset which is left in shareholders’ hands at the conclusion of the divestment process. The Board will, however, continue to adopt a flexible approach to the principal objective of cash realisation and return. In relation to substantial assets where realisation at an acceptable value proves unachievable within a reasonable timeframe, the Board will consider alternatives which give shareholders direct access to the assets concerned.

Electrocomponents Plc is a multi-channel distributor, which engages in the provision of end-to-end solutions offering products from industrial to electronics. Its brands include RS PRO and components, OKdo, DesignSpark, Monition, IESA and Allied Electronics and Automation. The company was founded by J. H. Waring and P. M. Sebestyen in 1937 and is headquartered in London, the United Kingdom.

Diageo Plc engages in the production and distribution of alcoholic beverages. Its brands include Johnnie Walker, Crown Royal, JeB, Buchanan's, Windsor and Bushmills whiskies, Smirnoff, Ciroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness. It operates through the following geographical segments: North America; Europe and Turkey; Africa; Latin America and Caribbean; Asia Pacific; ISC; and Corporate and Other.