Directors’ report

Directors' interests

The beneficial interests of the directors, together with non-beneficial interests in Home Retail Group shares, are shown below:

	Number of ordinary shares at 1 March 2008
Terry Duddy	684,924
Richard Ashton	214,051
Oliver Stocken	78,604
John Coombe	34,844
Andy Hornby	13,686
Penny Hughes	2,500

There were no changes to the above interests as at 30 April 2008.

Substantial shareholdings

As at 30 April 2008, the Company had been notified of the following interests in its total voting rights and share capital in issue:

	Total number of voting rights (ordinary shares)	Percentage of total voting rights (%)	Nature of holding
AXA Investment Managers UK Ltd	154,550,260	17.61	Direct and Indirect
Barclays plc	44,313,816	5.05	Indirect
Aviva plc	43,211,654	4.93	Direct and Indirect
Legal & General Group plc	38,743,818	4.42	Direct
Citibank N.A.	34,819,282	3.97	Direct and Indirect

Save for the above, no person has reported any notifiable interest of 3% or more, or a 1% fall or rise above that 3%, or any non-material interest equal to/or more than 10% of the nominal value of the voting and share capital in issue of the Company.

Share capital and control

As at 30 April 2008, the Company’s issued share capital comprised a single class of shares referred to as ordinary shares. Details of the ordinary share capital can be found in note 28 to the financial statements.

The rights and obligations attaching to the shares are more fully set out in the Articles of Association of the Company. There are no restrictions on the transfer of ordinary shares in the Company other than the following:

• certain restrictions may from time to time be imposed by laws and regulations (such as insider trading laws); and
• pursuant to the Listing Rules of the Financial Services Authority, the Company requires certain employees to seek the Company’s permission to deal in the Company’s ordinary shares.