Notes to the Consolidated Financial Statements
Notes 16-20
- 16. Inventory
- 17. Trade and other receivables
- 18. Cash and cash equivalents
- 19. Called up share capital
- 20. Share-based payments
19. Called up share capital
2008 | 2007 | ||||
---|---|---|---|---|---|
Number | £m | Number | £m | ||
Authorised: | |||||
Ordinary shares of 113/7 US cents each (2007: 113/7 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 Group held 5,132,496,335 (2007: 5,250,617,951) treasury shares with a nominal value of £368 million (2007: £377 million). The market value of shares held was £7,745 million (2007: £7,115 million). During the year, 101,466,161 treasury shares (2007: 91,595,624 treasury shares) were reissued under Group share option schemes. |
(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. The continuing B share dividend is shown within financing costs in the income statement. 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 21). The outstanding B share liability at 31 March 2008 has been classified as a financial liability. During the period, a transfer of £7 million (2007: £9,004 million) in respect of the B shares has been made from retained losses (note 23) to the capital redemption reserve (note 21). The redemptions and initial dividend are shown within cash flows from financing activities in the cash flow statement. |
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 |