HSBC 2004 Annual Report Download - page 295

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Options outstanding over HSBC Holdings ordinary shares under the Bank of Bermuda share plans are as follows:
Number of
HSBC Holdings
ordinary shares Period of exercise Exercise price
31 December 2004 .............................................. 4,569,967 2005 to 2013 US$3.86 – US$18.35
The total obligation at 31 December 2004 to deliver HSBC Holdings ordinary shares under all of the above
arrangements and under the HSBC Holdings Restricted Share Plan was 514,846,111 (2003: 496,414,669). The total
number of shares at 31 December 2004 held by employee benefit trusts that may be used to satisfy such obligations
to deliver HSBC Holdings ordinary shares is 123,108,967 (2003: 110,770,974).
35 Reserves
HSBC
HSBC
Holdings Associates
US$m US$m US$m
Share premium account
At 1 January 2004 ...................................................................................... 4,406 4,406 –
Shares issued to QUEST ............................................................................ 17 17 –
Shares issued under other employee option schemes ................................. 525 525 –
Shares issued in lieu of dividends .............................................................. (80) (80) –
On redemption of the equity component of HSBC Finance Corporation
8.875 per cent Adjustable Conversion-Rate Equity Security Units ........ 15 15 –
Scrip dividend expenses ............................................................................. (2) (2) –
At 31 December 2004 ............................................................................... 4,881 4,881 –
Other reserves
Reserve in respect of obligations under subsidiary share options:
At 1 January 2004 .................................................................................. 485 485 –
Reserve in respect of obligations under Bank of Bermuda share options 22 22 –
On exercise of CCF share options ......................................................... (81) (81) –
On exercise of HSBC Finance Corporation share options ..................... (19) (19) –
On exercise of Bank of Bermuda share options ..................................... (7) (7) –
On redemption of the equity component of HSBC Finance Corporation
8.875 per cent Adjustable Conversion-Rate Equity Security Units .... (1) (1) –
At 31 December 2004 ........................................................................... 399 399 –
Merger reserve:
At 1 January 2004 and 31 December 2004 ............................................. 21,058––
Total other reserves ........................................................................................ 21,457 399 –
Revaluation reserves
Investment property revaluation reserve:
At 1 January 2004 .................................................................................. 207 – 34
Unrealised surplus on revaluation of land and buildings ....................... 64 – 12
Transfer to revaluation reserve .............................................................. 11––
Realisation on disposal of properties ..................................................... (11) – –
Exchange and other movements ............................................................ 2––
At 31 December 2004 ........................................................................... 273 – 46
Revaluation reserve:
At 1 January 2004 .................................................................................. 1,408 57,041 8
Realisation on disposal of properties ..................................................... (75) ––
Transfer from investment property revaluation reserve ......................... (11) ––
Unrealised surplus on revaluation of properties ..................................... 1,093 ––
Transfer of depreciation from profit and loss account reserve ............... (42) ––
Net increase in attributable net assets of subsidiary undertakings
(Note 25 (a))....................................................................................... –11,955 –
Exchange and other movements ............................................................ 14 (33) 1
At 31 December 2004 ........................................................................... 2,387 68,963 9
Total revaluation reserves .......................................................................... 2,660 68,963 55