This excerpt taken from the ICI 6-K filed Mar 14, 2006.
Notes relating to the Company accounts
The average number of persons employed by the Company (including Directors) during the year, was as follows:
Information covering Directors remuneration, interests in shares, debentures, share options and pension benefits is included in note 2 relating to the Group accounts and in the Remuneration Report on pages 42 to 52.
For details of ICIs employee share option schemes and other share-based plans refer to note 7 relating to the Group accounts.
The Company has applied the requirement of FRS 20 Share-based payment and has elected not to adopt the exemption to apply FRS 20 only to awards made after 7 November 2002, instead a full retrospective approach has been followed on all grants not fully vested at the date of transition in order to maintain consistency across the reporting periods.
The fair value of awards granted is determined using the Black-Scholes valuation model, refer to note 7 relating to the Group accounts for the fair value assumptions used.