BT 2006 Annual Report Download - page 136

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LISTINGS
The principal listing of BT Group’s ordinary shares is on the London Stock Exchange. American Depositary Shares (ADSs), each
representing 10 ordinary shares, have been issued by JPMorgan Chase Bank, as Depositary for the American Depositary Receipts
(ADRs) evidencing the ADSs, and are listed on the New York Stock Exchange. ADSs also trade, but are not listed, on the London
Stock Exchange. Trading on the New York Stock Exchange is under the symbol ‘BT’.
SHARE AND ADS PRICES
a
Pence per
ordinary share
US$ per
ADS
High
pence
Low
pence
High
$
Low
$
Years ended 31 March
2002 420.71 215.75 67.19 30.60
2003 286.25 141.00 41.95 23.16
2004 206.75 162.00 34.97 25.65
2005 216.25 169.25 40.93 30.34
2006 235.00 196.50 41.71 35.34
Year ended 31 March 2005
1 April – 30 June 2004 198.50 169.25 36.60 30.34
1 July – 30 September 2004 197.50 177.50 36.80 32.66
1 October – 31 December 2004 206.00 180.50 40.07 32.61
1 January – 31 March 2005 216.25 196.50 40.93 37.71
Year ended 31 March 2006
1 April – 30 June 2005 230.00 196.50 41.71 36.83
1 July – 30 September 2005 235.00 215.50 41.59 39.01
1 October – 31 December 2005 224.75 202.50 39.56 35.34
1 January – 31 March 2006 234.50 203.75 41.04 35.96
Month
November 2005 216.75 203.50 37.69 35.34
December 2005 224.75 212.00 39.29 37.05
January 2006 223.25 203.75 39.67 35.96
February 2006 214.50 204.15 37.54 36.23
March 2006 234.50 208.00 41.04 36.75
April 2006 221.25 211.00 40.03 37.08
1 May to 12 May 2006 220.50 210.50 41.28 39.87
aThe pre-19 November 2001 prices shown have been adjusted for the rights issue and demerger that occurred in the 2002 financial year.
The prices are the highest and lowest closing middle market prices for BT ordinary shares, as derived from the Daily Official List of
the London Stock Exchange and the highest and lowest closing sales prices of ADSs, as reported on the New York Stock Exchange
composite tape.
Fluctuations in the exchange rate between the pound sterling and the US dollar affect the dollar equivalent of the pound sterling
price of the company’s ordinary shares on the London Stock Exchange and, as a result, are likely to affect the market price of the
ADSs on the New York Stock Exchange.
CAPITAL GAINS TAX (CGT)
The rights issue in June 2001 and the demerger of O2 in November 2001 adjusted the value for capital gains tax purposes of
BT shares.
Rights issue
An explanatory note on the effects of the rights issue on the CGT position relating to BT shareholdings is available from the
Shareholder Helpline (see page 143).
Demerger of O2 – capital gains tax calculation
The confirmed official opening prices for BT Group and O2 shares on 19 November 2001 following the demerger were 285.75p
and 82.75p, respectively. This means that, of the total (combined) value of 368.50p, 77.544% is attributable to BT Group and
22.456% to O2. Accordingly, for CGT calculations, the base cost of BT Group shares and O2 shares is calculated by multiplying
the acquisition cost of a BT shareholding by 77.544% and 22.456%, respectively.
BT Group plc Annual Report and Form 20-F 2006 Additional information for shareholders134