Notes 6-9
- 6 Reconciliation of movement in shareholders’ funds
- 7 Share capital
- 8 Commitments and contingent liabilities
- 9 Statutory and other information
7 SHARE CAPITAL
| Authorised | Allotted, called-up and fully paid | ||
|---|---|---|---|
| 2007 $m |
2007 $m |
2006 $m |
|
| Issued Ordinary Shares ($0.25 each) | 364 | 364 | 383 |
| Unissued Ordinary Shares ($0.25 each) | 236 | – | – |
| Redeemable Preference Shares (£1 each – £50,000) | – | – | – |
| 600 | 364 | 383 | |
The total authorised number of Ordinary Shares at 31 December 2007 was 2,400,000,000, of which 1,457,000,853 Ordinary Shares were in issue.
The Redeemable Preference Shares carry limited class voting rights and no dividend rights. This class of shares is capable of redemption at par at the option of the Company on the giving of seven days’ written notice to the registered holder of the shares.
The movements in share capital during the year can be summarised as follows:
| No. of shares (million) | $m | |
|---|---|---|
| At 1 January 2007 | 1,532 | 383 |
| Issues of shares | 5 | 1 |
| Re-purchase of shares | (80) | (20) |
| At 31 December 2007 | 1,457 | 364 |
Share re-purchases
During the year the Company re-purchased, and subsequently cancelled, 79,927,377 Ordinary Shares at an average price of 2593 pence per share. The total consideration, including expenses, was $4,170m. The consideration has been charged against the profit and loss account reserve.
Share schemes
A total of 4,682,622 Ordinary Shares were issued during the year in respect of share schemes. Details of movements in the number of Ordinary Shares under option are shown in Note 26 to the Group Financial Statements; details of options granted to Directors are shown in the Directors’ Remuneration Report.
Shares held by subsidiaries
No shares in the Company are held by subsidiaries.
