Holiday Inn 2008 Annual Report Download - page 100

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5 Creditors: amounts falling due within one year
2008 2007
£m £m
Amounts due to subsidiary undertakings 2,526 2,631
6 Share capital
Number
of shares
Note millions £m
Authorised (ordinary shares)
At 1 January 2008 and 31 December 2008 (1,175,000,000 shares of 13 29⁄47p each) 1,175 160
Authorised (preference shares)
At 1 January 2008 and 31 December 2008:
One redeemable preference share (£50,000) – –
Allotted, called up and fully paid (ordinary shares of 13 29⁄47p each)
At 31 December 2007 295 40
Repurchase of shares a(9) (1)
At 31 December 2008 286 39
a During the year, 9,219,325 (2007 7,724,844) ordinary shares were repurchased and cancelled under the authorities granted by shareholders at an Extraordinary
General Meeting held on 1 June 2007 and at the Annual General Meeting held on 30 May 2008.
The aggregate consideration in respect of ordinary shares issued under option schemes during the year was £1m (2007 £16m).
Thousands
Options to subscribe for ordinary shares
At 31 December 2007 8,251
Exercised* (356)
Lapsed or cancelled (211)
At 31 December 2008 7,684
Option exercise price per ordinary share (pence) 308.5-619.8
Final exercise date 4 April 2015
* The weighted average option price was 543.6p for shares exercised under the Executive Share Option Plan and 420.5p for shares exercised under
the Sharesave Plan.
The authority given to the Company at the Annual General Meeting on 30 May 2008 to purchase its own shares was still valid at
31 December 2008. A resolution to renew the authority will be put to shareholders at the Annual General Meeting on 29 May 2009.
7 Movements in reserves
Share Capital Share-based
premium redemption payments Profit and
account reserve reserve loss account
£m £m £m £m
At 1 January as previously reported 41 5 – 257
Impact of adopting UITF 44 (note 1) – – 84 –
At 1 January 2008 as restated 41 5 84 257
Premium on allotment of ordinary shares 1 – – –
Repurchase of shares – – – (70)
Transfer to capital redemption reserve – 1 – (1)
Profit after tax – – – 186
Share-based payments capital contribution – – 27 –
Dividends – – – (62)
At 31 December 2008 42 6 111 310
Notes to the parent company financial statements continued
98 IHG Annual Report and Financial Statements 2008