Mr John Ritblat has an effective 1.26% equity interest and is non executive chairman of Colliers CRE PLC, who are amongst the Group’s managing agents and as such receive fees for their services. During the year, fees of £nil (2004: £5,000) were paid to Olswang, fees of £nil (2004: £72,656) were paid to Hammonds and fees of £nil (2004: £27,088) were paid to D J Freeman, firms in which Michael Cassidy was a partner during the year, for legal advice on property transactions.
Details of transactions with joint ventures including debt guarantees by the Company are given in notes 13 and 27. During the year the Group received management fees of £1.2m (2004: £0.9m) from joint ventures.