Holiday Inn 2006 Annual Report Download - page 92

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Notes to the parent company financial statements
Number of shares
7 Share capital Note millions £m
Authorised (ordinary shares):
At 31 December 2005 (1,600,000,000 shares of 10p each) 1,600 160
Share capital consolidation a(200) –
At 31 December 2006 (1,400,000,000 shares of 113⁄7p each) 1,400 160
Authorised (preference shares):
One redeemable preference share (£50,000) ––
Allotted, called up and fully paid (ordinary shares):
At 31 December 2005 (10p each) 433 43
Share capital consolidation a(53) –
Issued under option schemes 41
Repurchase of shares (28) (3)
At 31 December 2006 (113⁄7p each) 356 41
a On 1 June 2006, shareholders approved a share capital consolidation on the basis of seven new ordinary shares for every eight existing ordinary shares. This
provided for all the authorised ordinary shares of 10p each (whether issued or unissued) to be consolidated into new ordinary shares of 113⁄7p each. The share
capital consolidation became effective on 12 June 2006.
The aggregate consideration in respect of ordinary shares issued under option schemes during the year was £20m (2005 £6m).
Options to subscribe for ordinary shares thousands
At 31 December 2005 23,483
Exercised (8,754)
Lapsed or cancelled (485)
At 31 December 2006 14,244
Option exercise price per ordinary share (pence) 308.5-619.8
Final exercise date 4 April 2015
The authority given to the Company at the Annual General Meeting on 1 June 2006 to purchase its own shares was still valid at
31 December 2006. A resolution to renew the authority will be put to shareholders at the Annual General Meeting on 1 June 2007.
Share Capital
premium redemption Profit and
account reserve loss account
8 Movements in reserves £m £m £m
At 31 December 2005 6 1 1,768
Premium on allotment of ordinary shares 19 – –
Repurchase of shares – – (257)
Transfer to capital redemption reserve – 3 (3)
Profit after tax ––53
Dividends – – (561)
At 31 December 2006 25 4 1,000
90 IHG Annual report and financial statements 2006