The 2013 annual general meeting resolved to change the basis
of future contributions to H IP. T he contribution is no longer l inked to
the increase in dividend; instead, contributions to HIP are based on
10 percent of the increase in the company’s profit after tax between
two consecutive financial years. The increase in profit is calculated on
profit a fter t ax before a ny contribution to H IP. T hus when calculating
the contribution to HIP for year 2, the year’s profit after tax is compared
w ith year 1’s profit a fter t ax before a ny contribution to H IP.
This ensures that the two years are compared on a like-for-like basis;
in other words, profit a fter t ax before a ny contribution to H IP. T he
first contribution to HIP based on an increase in profit was made for
the financial year which ended on 30 November 2013.