Vodafone 2007 Annual Report Download - page 149

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Vodafone Group Plc Annual Report 2007 147
Financials
7. Share based payments
The Company currently uses a number of equity settled share plans to grant options and shares to the directors and employees of its subsidiary undertakings,
as listed below.
Share option schemes
Vodafone Group savings related and Sharesave schemes
Vodafone Group executive schemes
Vodafone Group 1999 Long Term Stock Incentive Plan and ADSs
Other share option plans
Share plans
Share Incentive Plan
Restricted share plans
As at 31 March 2007, the Company had 584 million ordinary share options outstanding (2006: 787 million) and 3 million ADS options outstanding
(2006: 8 million).
The Company has made a capital contribution to its subsidiary undertakings in relation to share based payments. At 31 March 2007, the cumulative capital
contribution net of payments received from subsidiary undertakings was £397 million (31 March 2006: £383 million, 1 April 2005: £419 million). During the
year ended 31 March 2007, the capital contribution arising from share based payments was £93 million (2006: £114 million), with payments of £79 million
(2006: £150 million) received from subsidiary undertakings. The Company does not incur a profit and loss account charge in relation to share based payments.
Full details of share based payments, share option schemes and share plans are disclosed in note 20 to the Consolidated Financial Statements.
8. Reserves and reconciliation of movements in equity shareholders’ funds
Share Capital Own Profit Total equity
Share premium redemption Capital Other shares and loss shareholders’
capital account reserve reserve reserves held account funds
£m £m £m £m £m £m £m £m
1 April 2006 4,165 52,444 128 88 1,012 (8,186) 27,452 77,103
Allotments of shares 7 154 – – – – – 161
Own shares released on vesting of share awards – – – – – 142 – 142
Profit for the financial year – – – – – – 11,126 11,126
Dividends – – – – – – (3,566) (3,566)
Capital contribution given relating to share based payments – – – – 93 – – 93
Contribution received relating to share based payments – – – – (79) – – (79)
Share consolidation – (9,026) – – – – – (9,026)
B share capital redemption – – 5,713 – – – (5,713) –
B share preference dividend – – 3,291 – – – (3,291) –
Other movements – – – – – – 13 13
31 March 2007 4,172 43,572 9,132 88 1,026 (8,044) 26,021 75,967
In accordance with the exemption allowed by section 230 in the Companies Act 1985, no profit and loss account has been presented by the Company. The
profit for the financial year dealt with in the accounts of the Company is £11,126 million (2006: £12,671 million). Under English law, the amount available for
distribution to shareholders is based upon the profit and loss reserve of the Company and is reduced by the amount of own shares held and is limited by
statutory or other restrictions.
The auditor remuneration for audit services to the Company was £1 million (2006: £1 million). The Company paid no audit fees in relation to non audit
services to the Company for the years ended 31 March 2007 and 31 March 2006.
The directors are remunerated by Vodafone Group Plc for their services to the Group as a whole. No remuneration was paid to them specifically in respect of
their services to Vodafone Group Plc for either year. Full details of the directors’ remuneration are disclosed in the Directors’ Remuneration Report in the
Vodafone Group Plc Annual Report for the year ended 31 March 2007.
There were no employees other than directors of the Company throughout the current or the preceding year.