Notes to the Company Financial Statements
Notes 6-10
- 6. Share capital
- 7. Share-based payments
- 8. Reserves and reconciliation of movements in equity shareholders’ funds
- 9. Equity dividends
- 10. Contingent liabilities
6. Share capital
| 2008 | 2007 | |||
|---|---|---|---|---|
| Number | £m | Number | £m | |
| Authorised: | ||||
| Ordinary shares of 11 3/7 US cents each (2007: 11 3/7 US cents) | 68,250,000,000 | 4,875 | 68,250,000,000 | 4,875 |
| B shares of 15 pence each | 38,563,935,574 | 5,784 | 38,563,935,574 | 5,784 |
| Deferred shares of 15 pence each | 28,036,064,426 | 4,206 | 28,036,064,426 | 4,206 |
| Ordinary shares allotted, issued and fully paid(1): | ||||
| 1 April | 58,085,695,298 | 4,172 | 66,251,332,784 | 4,165 |
| Allotted during the year | 169,360,427 | 10 | 118,241,919 | 7 |
| Consolidated during the year | – | – | (8,283,879,405) | – |
| 31 March | 58,255,055,725 | 4,182 | 58,085,695,298 | 4,172 |
| B shares allotted, issued and fully paid(2): | ||||
| 1 April | 132,001,365 | 20 | – | – |
| Issued during the year | – | – | 66,271,035,240 | 9,941 |
| Redeemed during the year | (44,572,227) | (7) | (38,102,969,449) | (5,715) |
| Converted to deferred shares and subsequently cancelled during the year | – | – | (28,036,064,426) | (4,206) |
| 31 March | 87,429,138 | 13 | 132,001,365 | 20 |
| Notes: | |
|---|---|
| (1) | At 31 March 2008, the Company held 5,127,457,690 (2007: 5,245,547,674) treasury shares with a nominal value of £368 million (2007: £377 million) and 50,000 (2007: 50,000) 7% cumulative fixed rate shares of £1 each were authorised, allotted, issued and fully paid by the Company. |
| (2) | On 31 July 2006, Vodafone Group Plc undertook a return of capital to shareholders via a B share scheme and associated share consolidation. A total of 66,271,035,240 B shares were issued on that day, and 66,271,035,240 existing ordinary shares of 10 US cents each were consolidated into 57,987,155,835 new ordinary shares of 11 3/7 cents each. B shareholders were given the alternatives of initial redemption or future redemption at 15 pence per share or the payment of an initial dividend of 15 pence per share. The initial redemption took place on 4 August 2006 with future redemption dates on 5 February and 5 August each year until 5 August 2008 when the Company expects to exercise its right to redeem all B shares still in issue at their nominal value of 15 pence. B shareholders that chose future redemption are entitled to receive a continuing non-cumulative dividend of 75 per cent of sterling LIBOR payable semi-annually in arrear until they are redeemed. B shareholders are only entitled to receive notice of (or attend, speak or vote at) any general meeting if the business includes a resolution for the winding up of the Company. If the Company is wound up, the holders of the B shares are entitled, before any payment to the ordinary shareholders, to repayment of the amount paid up on each B share together with any outstanding entitlement to the B share continuing dividend. By 31 March 2008, total capital of £9,011 million had been returned to shareholders, £5,720 million by way of capital redemption and £3,291 million by way of initial dividend (note 8). The outstanding B share liability at 31 March 2008 has been classified as a financial liability and is disclosed within other creditors falling due within one year (note 5). During the period, a transfer of £7 million (2007: £9,004 million) in respect of the B shares has been made from the profit and loss account reserve (note 8) to the capital redemption reserve (note 8). |
Allotted during the year
| Number | Nominal value £m |
Net proceeds £m |
|
|---|---|---|---|
| UK share awards and option scheme awards | 152,400,497 | 9 | 249 |
| US share awards and option scheme awards | 16,959,930 | 1 | 24 |
| Total for share awards and option scheme awards | 169,360,427 | 10 | 273 |