Barclays 2009 Annual Report Download - page 245

www.barclays.com/annualreport09 Barclays PLC Annual Report 2009 243
31 Ordinary shares, share premium, and other equity continued
The authorised share capital of Barclays PLC is £5,290m, US$77.5m, €40m and Japanese Yen (¥)4,000m (31st December 2008: £3,540m, US$77.5m,
€40m and ¥4,000m) comprising 20,996 million (31st December 2008: 13,996 million) ordinary shares of 25p each, 0.4 million (31st December 2008:
0.4 million) Sterling preference shares of £100 each, 0.4 million (31st December 2008: 0.4 million) US Dollar preference shares of $100 each, 150 million
(31st December 2008: 150 million) US Dollar preference shares of $0.25 each, 0.4 million (31st December 2008: 0.4 million) Euro preference shares of
€100 each, 0.4 million (31st December 2008: 0.4 million) Yen preference shares of ¥10,000 each and 1 million (31st December 2008: 1 million) staff
shares of £1 each.
Called up share capital, allotted and fully paid 2009 2008
£m £m
Ordinary shares:
At beginning of year 2,093 1,650
Issued to staff under the Sharesave Share Option Scheme –1
Issued to staff under the Share Incentive Plan 5–
Issue of new ordinary shares 94 451
Conversion of Mandatorily Convertible Notes 661 –
Repurchase of shares –(9)
At end of year 2,853 2,093
Staff shares:
At beginning of year –1
Repurchase of shares –(1)
At end of year ––
Total 2,853 2,093
Issue of new ordinary shares
During the year, the following share issues took place:
Conversion of Mandatorily Convertible Notes
The Mandatorily Convertible Notes (MCNs), issued by Barclays Bank PLC on 27th November 2008, were converted into 2,642 million ordinary shares in
Barclays PLC by 30th June 2009 at the conversion price of £1.53276. £661m was credited to share capital and the remaining £3,221m (net of issuance
costs) was credited to the share premium account.
Warrants
On 31st October 2008 Barclays PLC issued, in conjunction with a simultaneous issue of Reserve Capital Instruments issued by Barclays Bank PLC, warrants
to subscribe for up to 1,516.9 million new ordinary shares at a price of £1.97775 to Qatar Holding LLC and HH Sheikh Mansour Bin Zayed Nahyan.
On 28th October 2009, Qatar Holding LLC exercised 379.2 million warrants to subscribe for new Barclays PLC Shares. £94m was credited to share
capital and the remaining £655m was credited to the share premium account.
Share repurchase
No share repurchases were made during the year. In 2008, Barclays PLC repurchased shares at a cost of £173m.
At the 2009 AGM on 23rd April 2009, Barclays PLC was authorised to repurchase 837,620,130 of its ordinary shares of 25p. The authorisation is effective
until the AGM in 2010.
Shares under option
The Group has four schemes that give employees rights to subscribe for new shares in Barclays PLC. A summary of the key terms of each scheme are
included in Note 44.
At 31st December 2009, 91.3 million (2008: 94.1 million) options were outstanding under the terms of the Sharesave Share Option Scheme (Sharesave),
no options were outstanding under the terms of the Executive Share Option Scheme (ESOS) (2008: 0.5 million), 0.1 million (2008: 0.4 million) options
were outstanding under the terms of the Woolwich Executive Share Option Plan (Woolwich ESOP) and 12.6 million (2008: 20.5 million) options were
outstanding under the terms of the Incentive Share Option Plan (ISOP) enabling certain Directors and members of staff to subscribe for ordinary shares
between 2009 and 2017 at prices ranging from 144p to 547p.
In addition to the above, the independent trustee of the Barclays Group (ESAS) Employees’ Benefit Trust (ESAS Trust), established by Barclays Bank PLC in
1996, operates the Executive Share Award Scheme (ESAS). ESAS is a deferred share bonus plan for employees of the Group. The key terms of the ESAS are
described in Note 44. The independent trustees of the ESAS Trust make awards of Barclays shares and grant options over Barclays shares to beneficiaries of
the ESAS Trust. Beneficiaries of the ESAS Trust include employees and former employees of the Barclays Group.