Vodafone 2000 Annual Report Download - page 46

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Vodafone AirTouch Plc Annual Report & Accounts for the year ended 31 March 2000
44
18 Called up share capital
2000 1999
Number £m Number £m
Authorised
Ordinary shares of US$0.10 each 78,000,000,000 4,875 – –
7% cumulative fixed rate shares of £1 each 50,000 – – –
Ordinary shares of 5p each – – 4,000,000,000 200
–––––––––––– ––––– –––––––––––– –––––
78,000,050,000 4,875 4,000,000,000 200
–––––––––––– ––––– –––––––––––– –––––
Ordinary shares allotted, issued and fully paid
1 April 3,099,406,734 155 3,085,587,323 154
Allotted and issued during the year 58,234,625,428 3,642 13,819,411 1
–––––––––––– ––––– –––––––––––– –––––
31 March 61,334,032,162 3,797 3,099,406,734 155
–––––––––––– ––––– –––––––––––– –––––
Allotted during the year Nominal
Number value Proceeds
£m £m
Savings related share option schemes 3,760,864 - 14
Executive share option schemes 9,019,353 1 10
US share option schemes 179,447,100 11 358
–––––––––––– –––––––– –––––
Total for share option schemes 192,227,317 12 382
Scrip dividends 20,973,986 1 –
Redenomination of share capital – 41 –
Shares issued as consideration for the merger with AirTouch
Communications, Inc. 3,046,345,743 193 –
Capitalisation issue 24,833,984,132 1,508 –
Shares issued as consideration for the acquisition of Mannesmann AG 30,141,094,250 1,887 –
–––––––––––– –––––––– –––––
58,234,625,428 3,642 382
–––––––––––– –––––––– –––––
Following approval at the Extraordinary General Meeting on 24 May 1999, the entire share capital at 30 June 1999, totalling 3,099,829,971
ordinary shares of 5p each, was redenominated to ordinary shares of $0.10 each. The equivalent sterling value of the redenominated shares
was calculated at that date and resulted in a transfer from the share premium account of a balance of £41m. On the same date, the Company
allotted 50,000 7% cumulative fixed rate shares of £1 each at par, fully paid.
Between 30 June 1999 and 30 September 1999, 3,046,345,743 ordinary shares were issued in connection with the Company’s merger with
AirTouch Communications, Inc., which completed on 30 June 1999.
On 30 September 1999 a capitalisation (bonus) issue of four shares for every one share held resulted in a transfer from the share premium
account to share capital of £1,508m.
At 31 March 2000, 30,141,094,250 ordinary shares of $0.10 each had been issued to shareholders of Mannesmann AG. This followed the
receipt of valid acceptances of the Company’s Offer to acquire Mannesmann AG in respect of a total of 499,970,377 Mannesmann shares,
representing approximately 98.62% of the issued share capital, and Euro 2,293,545,000 Mannesmann convertible bonds, representing
approximately 99.72% of the bonds in issue.
In February 1998, the Company established a Qualifying Employee Share Ownership Trust (‘QUEST’) to operate in connection with the
Company’s Savings Related Share Option Scheme. The trustee of the QUEST is Vodafone Group Share Trustee Limited, a wholly owned
subsidiary of the Company. At 31 March 2000 the trustee held 12,532,364 Vodafone AirTouch ordinary shares of which 3,695,995 shares
had been issued to the trustee during the year. The market value at 31 March 2000 for the total shareholding of the trustee was £44m.
The dividend rights in respect of these shares have been waived. During the year 5,580,186 shares (after adjustment for the capitalisation
issue) had been transferred to option holders exercising options under the Savings Related Share Option Scheme.
In July 1998, the Company established an Employee Benefit Trust (‘EBT’) to operate in connection with the Company’s Sharesave Scheme
and the executive share schemes. The trustee of the EBT is Vodafone Group Share Schemes Trustee Limited, a wholly owned subsidiary of the
Company. A total of 1,190,544 new ordinary shares (after adjustment for the capitalisation issue) have been allotted for use by the EBT during
the year, all of which have been transferred to employees exercising options under the relevant share option schemes.
The proceeds of share issues which have not been issued to parties outside the Group have been shown as deductions from the Group profit
and loss account reserves.
Notes to the Consolidated Financial Statements continued