Marks and Spencer 2005 Annual Report Download - page 42

40 MARKS AND SPENCER GROUP PLC
Notes to the financial statements continued
10 EMPLOYEES continued
B Average number of employees
The average number of employees of the Group during the year was: 2005 2004
UK stores Management and supervisory categories 4,863 4,901
Other 56,269 55,526
UK head office Management and supervisory categories 2,525 2,755
Other 807 919
Acquired operations 173 –
Overseas 4,399 4,381
Discontinued operations 1,514 1,619
70,550 70,101
If the number of hours worked was converted on the basis of a normal working week, the equivalent average number of full-time
employees for continuing operations would have been 46,962 (last year 45,222) and for discontinued operations 1,340 (last year 1,432).
Comparatives for UK store staffing have been recategorised to reflect the reclassification of divisional staff.
C United Kingdom Share Incentive Plan
The Company adopted the free share element of the new all-employee Share Incentive Plan, which is approved by the Inland Revenue.
This is a discretionary plan and the Company decides each year whether an award is to be made, depending upon the year-end profits.
No award will be made in July 2005 in respect of the financial year ended 2 April 2005. The last award under this scheme was made in
July 2003.
D United Kingdom Employees’ Save As You Earn Share Option Scheme
Under the terms of the Scheme, the Board may offer options to purchase ordinary shares in the Company once in each financial year to
those employees who enter into an Inland Revenue approved Save As You Earn (SAYE) savings contract. The price at which options may
be offered is 80% of the market price for three consecutive dealing days preceding the date of offer. The options may normally be
exercised during the period of six months after the completion of the SAYE contract, either three, five or seven years after entering the
Scheme.
Outstanding options granted under the United Kingdom Employees’ Save As You Earn Share Option Scheme are as follows:
Number of shares Option
Options granted 2005 2004 price
January 1997 Expired 1,499,213 389p
January 1998 1,038,090 1,160,288 467p
January 1999 1,594,114 3,832,848 324p
January 2000 4,398,817 11,292,814 223p
January 2001 13,572,339 15,825,503 156p
January 2002 4,702,766 8,720,985 250p
January 2003 7,988,919 9,729,981 283p
January 2004 10,812,290 12,811,587 228p
January 2005 8,080,928 – 280p
E Executive Share Option Schemes
Under the terms of the current Scheme, approved by shareholders in 2002, the Board may offer options to purchase ordinary shares in
the Company to executive directors and senior employees at the market price on a date to be determined prior to the date of the offer.
No further options may be granted under the 1984, 1987 and 1997 Schemes (further details are set out in the Remuneration report on
page 18). Outstanding options granted under all executive share option schemes are as follows:
Number of shares Option
Options granted 2005 2004 price Option dates
(1984 Scheme)
May 1994 –1,071,186 404p May 1997 – May 2004
October 1994 –21,541 402p Oct 1997 – Oct 2004
May 1995 1,025,065 1,060,075 414p May 1998 – May 2005
May 1996 39,376 45,850 458p May 1999 – May 2006
November 1996 6,172 6,172 486p Nov 1999 – Nov 2006
June 1997 11,384 17,076 527p Jun 2000 – Jun 2007
(1987 Scheme)
June 1997 –1,269,006 527p Jun 2000 – Jun 2004