National Grid 2008 Annual Report Download - page 669

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 22996
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 142
Description: EXHIBIT 15.1
0/6338.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/338/6*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 22996
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 142 Description: EXHIBIT 15.1
0/6338.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/338/6*
Table of Contents
150
Notes to the consolidated financial statements continued
National Grid plc
25. Share capital continued
Additional information in respect of share capital
For details in respect of share options and reward plans, refer to note 36.
26. Reconciliation of movements in total equity
2008 2008 2007 2007 2006 2006
millions £m millions £m millions £m
Consideration received in respect of ordinary shares
issued durin
g
the
y
ear 823 4 16 8 28
Authorised share ca
p
ital
Ordinar
y
shares
(
i
)
4,392 501 4,388 500 4,388 500
Non-cumulative B shares
–
–
3,150 315 3,150 315
4,392 501 7,538 815 7,538 815
(i) On 28 September 2007, the Company increased its authorised ordinary share capital by 3,705,183 ordinary shares to 4,391,705,193 ordinary shares of 11
17
/
43
pence each.
Called-up Share Other Total
share premium Retained equity shareholders’ Minority Total
capital account earnings reserves equity interests equity
£m £m £m £m £m £m £m
At 1 April 2005 309 1,289 5,559 (5,089) 2,068 10 2,078
Total reco
g
nised income and ex
p
ense for the
y
ear
–
–
3,969 128 4,097 3 4,100
E
q
uit
y
dividends
–
–
(
745
)
–
(
745
)
–
(
745
)
Return of capital to shareholders through B share
scheme – – (2,009) – (2,009) – (2,009)
Issue of ordinar
y
share ca
p
ital 1 27
–
–
28
–
28
Other movements in minorit
y
interests
–
–
–
–
–
(
2
)
(
2
)
Movement in shares held in em
p
lo
y
ee share trusts
–
–
19
–
19
–
19
Share-based payment – – 17 – 17 – 17
Tax on share-based
p
a
y
ment
–
–
7
–
7
–
7
At 31 March 2006 310 1,316 6,817
(
4,961
)
3,482 11 3,493
Total recognised income and expense for the year – – 1,689 (191) 1,498 1 1,499
E
q
uit
y
dividends
–
–
(
730
)
–
(
730
)
–
(
730
)
Issue of ordinar
y
share ca
p
ital
–
16
–
–
16
–
16
Re
p
urchase of shares
(
2
)
–
(
169
)
2
(
169
)
–
(
169
)
Other movements in minority interests – – – – – (1) (1)
Share-based
p
a
y
ment
–
–
15
–
15
–
15
Tax on share-based
p
a
y
ment
–
–
13
–
13
–
13
At 31 March 2007 308 1,332 7,635 (5,150) 4,125 11 4,136
Total reco
g
nised income and ex
p
ense for the
y
ear
–
–
3,530
(
54
)
3,476 3 3,479
E
q
uit
y
dividends
–
–
(
780
)
–
(
780
)
–
(
780
)
Issue of ordinar
y
share ca
p
ital 1 12
–
–
13
–
13
B shares converted to ordinary shares – 27 – – 27 – 27
Repurchase of share capital and purchase of
treasur
y
shares
(
i
)
(
15
)
–
(
1,522
)
15
(
1,522
)
–
(
1,522
)
Other movements in minorit
y
interests
–
–
–
–
–
4 4
Share-based payment – – 18 – 18 – 18
Transfer between reserves
–
–
63
(
63
)
–
–
–
Issue of treasur
y
shares
–
–
10
–
10
–
10
Tax on share-based
p
a
y
ment
–
–
(
5
)
–
(
5
)
–
(
5
)
At 31 March 2008 294 1,371 8,949
(
5,252
)
5,362 18 5,380
(i) From 30 May 2007 to 31 March 2008, the Company repurchased under its share repurchase programme 200.1m ordinary shares for aggregate consideration of £1,516m including
transaction costs. The shares repurchased have a nominal value of 11
17
/
43
pence each and represented 8% of the ordinary shares in issue as at 31 March 2008. Included within total
equity is a deduction of £570m for treasury shares (31 March 2007: £nil). Further purchases of shares relating to employee share schemes were made for an aggregate consideration of
£6m.