- Financial Statements
Notes to the Consolidated Financial Statements
for the year to 31 December 2007
25. Share capital
| 2007 £m |
2006 £m |
|
| Authorised: | ||
| 2,000,000,000 (2006: 780,000,000) ordinary shares of 25p each | 500.0 | 195.0 |
| Number of shares | £m | |
|---|---|---|
| Issued and fully paid: | ||
| 1 January 06 | 591,891,384 | 148.0 |
| Options exercised | 2,227,950 | 0.5 |
| US Employee Stock Purchase Plan | 30,573 | – |
| Long service awards | 189 | – |
| 31 December 06 | 594,150,096 | 148.5 |
| Acquisition of George Wimpey Plc | 563,919,759 | 141.0 |
| Options exercised | 194,175 | 0.1 |
| US Employee Stock Purchase Plan | 30,678.0 | – |
| 31 December 07 | 1,158,294,708 | 289.6 |
During the year, options were exercised on 4,347,240 (2006: 8,562,360) ordinary shares of which 194,175 (2006: 2,227,950) were new issues with the balance coming from Treasury/ESOT at varying prices from 125.2p to 278.8p and shares were issued for a total consideration of £4.2m (2006: £1.6m). Additionally nil (2006: 189) ordinary shares were issued and awarded to employees for twenty-five or forty years’ long service. Under the Group’s senior executives’ share option scheme and executive share option plan, employees held options at 31 December 2007 to purchase 855,810 shares (2006:1,821,306 ) at prices between 153.0p and 252.8p per share exercisable up to 8 October 2013. Under the Group’s savings related share option schemes, employees held options at 31 December 2007 to purchase 7,043,437 shares (2006: 5,135,009) at prices between 127.2p and 278.8p per share exercisable up to 31 May 2013. Under the Group’s cash bonus deferral plan and executive bonus plan, employees held options at 31 December 2007 in respect of 716,604 shares (2006: 991,217) at nil p per share exercisable up to 1 April 2014. Under the Group’s performance share plan employees held conditional awards at 31 December 2007 in respect of 4,512,837 shares (2006: 6,750,224) at nil p per share exercisable up to 30 June 2010. Under the Group’s share purchase plan employees held conditional awards at 31 December 2007 in respect of 871,812 shares (2006: 687,045) at nil p per share. The former George Wimpey plans were acquired as part of the merger. The awards were adjusted by the merger ratio of 1.3914 shares for each George Wimpey share. Under the George Wimpey Sharesave Scheme, employees held options at 31 December 2007 to purchase 3,378,282 shares at prices between 164.2p and 277.0p per share exercisable up to 31 May 2012. Under the George Wimpey Executive Option Scheme, employees held awards at 31 December 2007 in respect of 4,182,473 shares at prices between 212.6p and 456.7p per share exercisable up to 2 April 2017. Under the George Wimpey Long Term Incentive plan, employees held awards at 31 December 2007 in respect of 3,990,182 shares at nil p per share exercisable up to 2 April 2017.