Vodafone 2005 Annual Report Download - page 109

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Financials |107
22.Called up share capital
2005 2004
Number £m Number £m
Authorised:
Ordinary shares of $0.10 each 78,000,000,000 4,875 78,000,000,000 4,875
7% cumulative fixed rate shares of £1 each 50,000 – 50,000 –
78,000,050,000 4,875 78,000,050,000 4,875
Allotted, issued and fully paid:
Ordinary shares of $0.10 each(1):
1 April 68,263,933,048 4,280 68,179,382,971 4,275
During the year 116,933,491 6 84,550,077 5
31 March 68,380,866,539 4,286 68,263,933,048 4,280
7% cumulative fixed rate shares of £1 each: 50,000 – 50,000 –
31 March 68,380,916,539 4,286 68,263,983,048 4,280
Notes:
(1) At 31 March 2005 the Company held 3,785,000,000 (2004: 800,000,000; 2003: nil) treasury shares with a nominal value of £205 million (2004: £44 million; 2003: £nil).
Allotted during the year Nominal
Number value Proceeds
£m £m
UK share awards and option scheme awards 64,931,201 3 82
US share awards and option scheme awards 52,002,290 3 54
Total for share option scheme awards 116,933,491 6 136
Share plans
The Company currently uses a number of share plans to grant options and awards to its directors and employees.
Sharesave Scheme
The Vodafone Group 1998 Sharesave Scheme (the “Sharesave Scheme”) enables UK staff to acquire shares in the Company through monthly savings of up to £250 a year
over a three or five year period, at the end of which they also receive a tax free bonus. The savings and bonus may then be used to purchase shares at the option price,
which is set at the beginning of the savings contract and usually at a discount of 20% to the then prevailing market price of the Company’s shares. Invitations to participate
in this scheme are usually made annually.
Discretionary share option plans
The Company has two discretionary share option plans, the Vodafone Group 1998 Company Share Option Scheme (which is UK Inland Revenue approved) and the Vodafone
Group 1998 Executive Share Option Scheme (which is unapproved). Options under the discretionary schemes are subject to performance conditions. Options are normally
exercisable between three and ten years from the date of grant.
Long Term Stock Incentive Plan
The Vodafone Group Plc 1999 Long Term Stock Incentive Plan is a discretionary plan under which both share option grants and share awards may be made. For some
grants to US employees, the options have phased vesting over a four year period and are exercisable in respect of ADSs. For all other grants, options are normally exercisable
between three and ten years from the date of grant, subject to the satisfaction of predetermined performance conditions, and are exercisable in respect of ordinary shares
listed on the London Stock Exchange or ADSs for US employees.
In addition to the above, all permanent employees at 1 April 2004 received an award of 350 shares (known as “AllShares”) in Vodafone Group Plc on 5 July 2004, under the
Vodafone Group Plc Global All Employee Share Plan. The awards vest after two years and are not subject to performance conditions.
Share option plans belonging to subsidiaries
Share option schemes are also operated by certain of the Group’s subsidiary and associated undertakings, under which options are only issued to key personnel.
Share Incentive Plan
The Share Incentive Plan enables UK staff to acquire shares in the Company through monthly purchases of up to £125 per month or 5% of salary, whichever is lower. For
each share purchased by the employee, the Company provides a free matching share.