Tesco 2011 Annual Report Download - page 159

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NOTE 13 CALLED UP SHARE CAPITAL CONTINUED
Between 27 February 2011 and 15 April 2011, options over 2,137,647 ordinary shares have been exercised under the terms of the Savings-related
Share Option Scheme (1981) and the Irish Savings-related Share Option Scheme (2000). Between 27 February 2011 and 15 April 2011, options over
1,020,924 ordinary shares have been exercised under the terms of the Executive Share Option Schemes (1994 and 1996) and the Discretionary Share
Option Plan (2004).
As at 26 February 2011, the Directors were authorised to purchase up to a maximum in aggregate of 802.1 million (2010 – 790.1 million) ordinary shares.
The owners of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at the meetings
of the Company.
Capital redemption reserve
Upon cancellation of the shares purchased as part of the share buy-back, a capital redemption reserve is created representing the nominal value of
the shares cancelled. This is a non-distributable reserve. Details of the capital redemption reserve are out in the Group Statement of Changes in Equity.
NOTE 14 RESERVES
2011
£m
2010
£m
Share premium account
At beginning of year 4,801 4,638
Premium on issue of shares less costs 95 163
At end of year 4,896 4,801
Profit and loss reserve
At beginning of year 2,731 2,624
Share-based payments 161 234
Dividend (1,081) (968)
Losses on cash flow hedges (6) (82)
Profit after tax for the year 816 923
At end of year 2,621 2,731
NOTE 15 CONTINGENT LIABILITIES
The Company has irrevocably guaranteed the liabilities, as defined by Section 5(c) of the Republic of Ireland (Amendment Act) 1986, of various
subsidiary undertakings incorporated in the Republic of Ireland.
TESCO PLC Annual Report and Financial Statements 2011
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155
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