- Financial Statements
Notes to the Company Financial Statements
for the year to 31 December 2007
16. Own shares
| 2007 £m |
2006 £m |
|
| Own shares | (281.9) | (44.8) |
| These comprise ordinary shares of the company: | Number | Number |
| Treasury shares | 102.7 | 12.2 |
| Shares held in trust for bonus, options and performance award plans | 4.5 | 5.0 |
The market value of the shares at 31 December 2007 was £218.1m (2006: £73.6) and their nominal value was £26.8m (2006: £4.3m).
Dividends on these shares have been waived except for 0.01p per share in respect of the shares held in trust.
Employee Share Ownership Trusts (‘ESOTs’) are used to hold the company’s shares (‘shares’) which are either acquired on the market or (during 2007) transferred out of the company’s holding of shares in Treasury. These shares are used to meet the valid exercise and/or vesting of conditional awards (under the DBP and PSP) and options (under the Savings-Related, Executive Share Option, George Wimpey LTIP and Executive Bonus Plans) over shares, and the matching award of shares under the Share Purchase Plan.
During 2007, 4.3m shares were transferred out of the company’s Treasury holding to the ESOTs for this purpose.
The ESOTs’ entire holding of shares at 31 December 2007, aggregating 4.5m shares, was covered by outstanding options and conditional awards over shares at that date.