Vodafone 2013 Annual Report Download - page 130

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24. Borrowings (continued)
Borrowing facilities
Committed facilities expiry
2013 2012
DrawnUndrawn Drawn Undrawn
£m £m £m £m
Within one year 2,518 837 2,130451
In one to two years 1,546 50 3,294592
In two to three years 1,288 3,569 1,746–
In three to four years 1,14 2 2,794 9043,527
In four to ve years – – 57123
In more than ve years 1,188 422 7943,272
31 March 7,682 7,672 9,4397,865
At 31 March the Group’s most signicant committed facilities comprised two revolving credit facilities which remain undrawn throughout the period
of €4,230 million (£3,569 million) and US$4,245 million (£2,794 million) maturing in three and ve years respectively. Under the terms of these bank
facilities, lenders have the right, but not the obligation, to cancel their commitment 30 days from the date of notication of a change of control of the
Company and have outstanding advances repaid on the last day of the current interest period. The facility agreements provide for certain structural
changes that do not affect the obligations of the Company to be specically excluded from the denition of a change of control. This is in addition
to the rights of lenders to cancel their commitment if the Company has committed an event of default.
The terms and conditions of the drawn facilities in the Group’s Turkish and Italian operating companies of €400 million and €350 million respectively
and in the Group’s German, Turkish and Romanian xed line operations of €410 million, €150 million and €150 million respectively in addition
to the undrawn facilities in the Group’s xed line operations in Italy and Turkey of €400 million and €100 million respectively, are similar to those
of the US dollar and euro revolving credit facilities. In addition, should the Group’s Turkish operating company spend less than the equivalent
of US$800 million on capital expenditure the Group will be required to repay the drawn amount of the facility that exceeds 50% of the capital
expenditure and should the Group’s Italian operating company spend less than the equivalent of €1,500 million on capital expenditure, the Group
will be required to repay the drawn amount of the facility that exceeds 18% of the capital expenditure. Similarly should the Group’s German,
Italian or Romanian xed line operations spend less that the equivalent of €824 million, €1,252 million and €1,246 million on capital expenditure
respectively, the Group will be required to repay the drawn amount of the facility that exceeds 50% of the capital expenditure.
25. Called up share capital
Called up share capital is the number of shares in issue at their par value of 113/7 US cents each. A number
of shares were allotted during the year in relation to employee share option schemes.
2013 2012
Number £m Number £m
Ordinary shares of 113/7 US cents each allotted, issued and fully paid:1
1 April 5 3 , 815 , 0 07, 2 8 9 3,866 56,811,123,4294,082
Allotted during the year 5,379,020 – 3,883,860 –
Cancelled during the year – – (3,000,000,000) (216)
31 March 53,820,386,309 3,866 53,815,007,289 3,866
Note:
1 At 31 March 2013 the Group held 4,901,767,844 (2012: 4,169,067,107) treasury shares with a nominal value of £352 million (2012: £299 million). The market value of shares held was £9,147 million (2012: £7,179 million).
Duringthe year 161,289,620 (2012: 166,003,556) treasury shares were reissued under Group share option schemes.
Allotted during the year
Nominal Net
value proceeds
Number £m £m
UK share awards and option scheme awards 9,210 – –
US share awards and option scheme awards 5,369,810 – 8
Total for share awards and option scheme awards 5,379,020 – 8
26. Subsequent events
Detailed below are the signicant events that happened after our year end date of 31 March 2013 and before
the signing of this annual report on 21 May 2013.
On 13 May 2013 VZW declared a dividend of US$7.0 billion (£4.6 billion). As a 45% shareholder in VZW, Vodafone’s share of the dividend
is US$3.2billion (£2.1 billion). The dividend will be received by the end of June 2013.
Notes to the consolidated nancial statements (continued)
128 Vodafone Group Plc
Annual Report 2013