Vodafone 2005 Annual Report Download - page 110

Notes to the Consolidated Financial Statements continued
108 |Financials
22.Called up share capital continued
Restricted Share Plans
Under the Vodafone Group Short Term Incentive Plan, introduced in 1998, shares are conditionally awarded to directors(1) based on achievement of one year performance
targets. Release of the shares is deferred for a further two years and is subject to continued employment. Additional shares are released at this time if a further performance
condition has been satisfied over the two year period.
Under the Vodafone Long Term Incentive Plan and the Vodafone Group Plc 1999 Long Term Stock Incentive Plan referred to above, awards of performance shares are granted
to directors(1) and certain employees. The release of these shares is conditional upon achievement of performance targets measured over a three year period.
Under these restricted share plans, the maximum aggregate number of ordinary shares which may be issued in respect of options or awards will not (without shareholder
approval) exceed:
•10% of the ordinary share capital of the Company in issue immediately prior to the date of grant, when aggregated with the total number of ordinary shares which have been
allocated in the preceding ten year period under all plans; and
•5% of the ordinary share capital of the Company in issue immediately prior to the date of grant, when aggregated with the total number of ordinary shares which have been
allocated in the preceding ten year period under all plans other than the Sharesave Scheme.
Note:
(1) The term “directors”here refers to directors of the Company and directors of the Group’s subsidiaries.
Share options
A summary of the options outstanding at 31 March 2005 to subscribe for shares in the Company is provided in the following table.
Weighted
average Exercisable
Total period shares
shares remaining Weighted average Weighted Exercisable weighted
under to full remaining average shares at average
option vesting contractual life exercise 31 March 2005 exercise
Range of exercise prices (millions) (months) (months) price (millions) price
Ordinary shares:
Vodafone Group Savings Related and Sharesave Schemes
£0.01 – £1.00 39.9 20 26 £0.79 1.1 £0.76
£1.01 – £2.00 0.8 16 23 £1.27 0.1 £1.27
£2.01 – £3.00 0.2 5 11 £2.25 – £2.19
40.9 1.2
Vodafone Group Executive Schemes
£0.01 – £1.00 50.6 3 85 £0.89 8.5 £0.85
£1.01 – £2.00 64.2 – 56 £1.56 64.2 £1.56
£2.01 – £3.00 40.3 – 61 £2.75 40.3 £2.75
155.1 113.0
Vodafone Group 1999 Long Term Stock Incentive Plan
£0.01 – £1.00 462.3 3 87 £0.91 27.4 £0.90
£1.01 – £2.00 423.2 9 89 £1.38 189.9 £1.55
£2.01 – £3.00 15.8 – 3 £2.92 5.8 £2.92
901.3 223.1
Vodafone Netherlands options
£0.01 – £1.00 9.5 3 27 £0.73 ––
£1.01 – £2.00 11.9 – 8 £1.43 11.9 £1.43
£2.01 – £3.00 ––––––
21.4 11.9
Vodafone Pacific options (Australia)
AUD 0.01 – AUD 10.00 2.4 – 71 AUD 4.85 2.4 AUD 4.85
Vodafone Pacific options (New Zealand)
NZD 0.01 – NZD 10.00 1.5 – 74 NZD 5.64 1.5 NZD 5.64