BT 2003 Annual Report Download - page 145

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Demerger of mmO
2
– capital gains tax calculation
The confirmed official opening prices for BT Group and mmO
2
shares on 19 November 2001 following the
demerger were 285.75p and 82.75p, respectively. This means that, of the total (combined) value of 368.50p,
77.544% is attributable to BT Group and 22.456% to mmO
2
. Accordingly, for CGT calculations, the base cost
of your BT Group shares and mmO
2
shares is calculated by multiplying the acquisition cost of your
BT shareholding by 77.544% and 22.456%, respectively.
Analysis of shareholdings Ordinary shares
of 5p each
Range
Number of
holdings
Percentage
of total
Number of shares
held
(millions)
Percentage
of total
1–399 676,885 40.9 143 1.6
400 – 799 486,283 29.4 270 3.1
800 – 1,599 301,526 18.2 335 3.9
1,600 – 9,999 182,742 11.1 516 6.0
10,000 – 99,999 5,281 0.3 111 1.3
100,000 – 999,999 1,153 0.1 428 4.9
1,000,000 – 4,999,999 424 0.0 948 10.9
5,000,000 and above
a,b,c,d
236 0.0 5,920 68.3
Total 1,654,530 100.0 8,671 100.0
e
a
32 million shares were held in trust by Ilford Trustees (Jersey) Limited for allocation to employees under the employee share schemes.
b
Under the BT Employee Share Ownership Scheme and the BT Group Employee Share Investment Plan, 15 million and 12 million shares respectively were
held in trust on behalf of 115,757 and 89,529 participants respectively who were beneficially entitled to the shares. 137 million shares were held in the
corporate nominee BT Group EasyShare on behalf of 122,628 beneficial owners.
c
185 million shares were represented by ADSs. Analysis by size of holding is not available for this holding.
d
16 million shares were held in trust by The Royal Bank of Scotland Trust Company (Jersey) Limited for allocation to employees under the employee
share schemes.
e
14.5% of the shares were in 1,618,274 individual holdings, of which 142,206 were joint holdings, and 85.5% of the shares were in 36,256
institutional holdings.
So far as the company is aware, the company is not directly or indirectly owned or controlled by another
corporation or by the UK Government or any other foreign government or by any other natural or legal person
severally or jointly. There are no arrangements known to the company the operation of which may at a subsequent
date result in a change in control of the company.
At 15 May 2003, there were 8,670,849,554 ordinary shares outstanding. At the same date, approximately
18.5 million ADSs (equivalent to 185.2 million ordinary shares, or approximately 2.1% of the total number
of ordinary shares outstanding on that date) were outstanding and were held by 2,346 record holders of ADRs.
At 31 March 2003, there were 3,460 shareholders with a US address on the register of shareholders.
Dividends
Since shortly after its incorporation in 1984, British Telecommunications plc paid interim dividends annually
in February and final dividends in September. However, as part of BT’s debt reduction and restructuring plans,
neither a final dividend for the year ended 31 March 2001 nor an interim dividend for the year ended 31 March
2002 was paid to shareholders.
A final dividend in respect of the year ended 31 March 2002, was paid on 9 September 2002 to shareholders
on the register on 9 August 2002, and an interim dividend in respect of the year ended 31 March 2003 was paid
on 10 February 2003 to shareholders on the register on 31 December 2002.
The dividends paid or payable on BT shares and ADSs for the last five years are shown in the following table.
The dividends on the ordinary shares exclude the associated tax credit. The amounts shown are not those that
were actually paid to holders of ADSs. For the tax treatment of dividends paid on or after 6 April 1999 see
Taxation of dividends below. The dividends on the ADSs paid before 5 April 1999 include the associated UK
tax credit available to certain beneficial owners who are resident in the United States or Canada for tax purposes,
but before deduction of UK withholding taxes. Dividends have been translated from pounds sterling into US dollars
using exchange rates prevailing on the date the ordinary dividends were paid.
Additional information for shareholders
144 BT Annual Report and Form 20-F 2003