Vodafone 2008 Annual Report Download - page 139

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5. Creditors
2008 2007
£m £m
Amounts falling due within one year:
Bank loans and other loans 4,442 3,656
Amounts owed to subsidiary undertakings 93,891 72,568
Group relief payable 42 101
Other creditors 393 82
Accruals and deferred income 16 8
98,784 76,415
Amounts falling due after more than one year:
Other loans 14,409 14,216
Other creditors 173 172
14,582 14,388
Included in amounts falling due after more than one year are other loans of £8,279 million, which are due in more than five years from 1 April 2008 and are payable
otherwise than by instalments. Interest payable on this debt ranges from 3.625% to 7.875%.
6. Share capital
2008 2007
Number £m Number £m
Authorised:
Ordinary shares of 113/7 US cents each (2007: 113/7 US cents) 68,250,000,000 4,875 68,250,000,000 4,875
B shares of 15 pence each 38,563,935,574 5,784 38,563,935,574 5,784
Deferred shares of 15 pence each 28,036,064,426 4,206 28,036,064,426 4,206
Ordinary shares allotted, issued and fully paid(1):
1 April 58,085,695,298 4,172 66,251,332,784 4,165
Allotted during the year 169,360,427 10 118,241,919 7
Consolidated during the year – – (8,283,879,405) –
31 March 58,255,055,725 4,182 58,085,695,298 4,172
B shares allotted, issued and fully paid(2):
1 April 132,0 01, 365 20 – –
Issued during the year – – 66,271,035,240 9,941
Redeemed during the year (44,572,227) (7) (38,102,969,449) (5,715)
Converted to deferred shares and subsequently cancelled during the year – – (28,036,064,426) (4,206)
31 March 87,429,138 13 132,001,365 20
Notes:
(1) At 31 March 2008, the Company held 5,127,457,690 (2007: 5,245,547,674) treasury shares with a nominal value of £368 million (2007: £377 million) and 50,000 (2007: 50,000) 7% cumulative
fixed rate shares of £1 each were authorised, allotted, issued and fully paid by the Company.
(2) On 31 July 2006, Vodafone Group Plc undertook a return of capital to shareholders via a B share scheme and associated share consolidation. A total of 66,271,035,240 B shares were issued on that
day, and 66,271,035,240 existing ordinary shares of 10 US cents each were consolidated into 57,987,155,835 new ordinary shares of 113/7 cents each. B shareholders were given the alternatives of
initial redemption or future redemption at 15 pence per share or the payment of an initial dividend of 15 pence per share. The initial redemption took place on 4 August 2006 with future
redemption dates on 5 February and 5 August each year until 5 August 2008 when the Company expects to exercise its right to redeem all B shares still in issue at their nominal value of 15 pence.
B shareholders that chose future redemption are entitled to receive a continuing non-cumulative dividend of 75 per cent of sterling LIBOR payable semi-annually in arrear until they are
redeemed. B shareholders are only entitled to receive notice of (or attend, speak or vote at) any general meeting if the business includes a resolution for the winding up of the Company. If the
Company is wound up, the holders of the B shares are entitled, before any payment to the ordinary shareholders, to repayment of the amount paid up on each B share together with any
outstanding entitlement to the B share continuing dividend.
By 31 March 2008, total capital of £9,011 million had been returned to shareholders, £5,720 million by way of capital redemption and £3,291 million by way of initial dividend (note 8). The outstanding
B share liability at 31 March 2008 has been classified as a financial liability and is disclosed within other creditors falling due within one year (note 5). During the period, a transfer of £7 million
(2007: £9,004 million) in respect of the B shares has been made from the profit and loss account reserve (note 8) to the capital redemption reserve (note 8).
Allotted during the year
Nominal Net
value proceeds
Number £m £m
UK share awards and option scheme awards 152,400,497 9 249
US share awards and option scheme awards 16,959,930 1 24
Total for share awards and option scheme awards 169,360,427 10 273
Vodafone Group Plc Annual Report 2008 137