BT 2008 Annual Report Download - page 156

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BT Group plc Annual Report & Form 20-F 155
Stock exchange listings
The principal listing of BT Group’s ordinary shares is on the London Stock Exchange. American Depositary Shares (ADSs), each
representing 10 ordinary shares, have been issued by JPMorgan Chase Bank, as Depositary for the American Depositary Receipts
(ADRs) evidencing the ADSs, and are listed on the New York Stock Exchange. ADSs also trade, but are not listed, on the London
Stock Exchange. Trading on the New York Stock Exchange is under the symbol ‘BT’.
Share and ADS prices Pence per
ordinary share
US$ per
ADS
High
pence
Low
pence
High
US$
Low
US$
.....................................................................................................................................................................................................................................
Financial years ended 31 March
2004 206.75 162.00 34.97 25.65
2005 216.25 169.25 40.93 30.34
2006 235.00 196.50 41.71 35.34
2007 321.75 209.25 62.96 37.08
2008 336.75 205.50 68.55 40.86
Financial year ended 31 March 2007
1 April – 30 June 2006 239.25 209.25 44.75 37.08
1 July – 30 September 2006 268.00 226.75 50.57 41.58
1 October – 31 December 2006 316.50 262.25 62.25 49.09
1 January – 31 March 2007 321.75 290.00 62.96 55.37
Financial year ended 31 March 2008
1 April – 30 June 2007 333.00 306.25 66.58 60.58
1 July – 30 September 2007 336.75 295.00 68.55 59.92
1 October – 31 December 2007 327.75 272.75 68.09 53.92
1 January – 31 March 2008 280.25 205.50 54.55 40.46
Months
November 2007 321.00 276.50 67.10 56.72
December 2007 296.75 273.25 60.13 53.92
January 2008 280.25 245.75 54.55 49.35
February 2008 264.50 226.00 52.40 44.66
March 2008 222.75 205.50 44.42 40.46
April 2008 233.25 212.50 45.90 42.23
1 May to 9 May 2008 225.50 220.75 44.28 43.36
The prices are the highest and lowest closing middle market prices for BT ordinary shares, as derived from the Daily Official List of
the London Stock Exchange and the highest and lowest closing sales prices of ADSs, as reported on the New York Stock Exchange
composite tape.
Fluctuations in the exchange rate between the pound Sterling and the US dollar affect the dollar equivalent of the pound Sterling
price of the company’s ordinary shares on the London Stock Exchange and, as a result, are likely to affect the market price of the
ADSs on the New York Stock Exchange.
Capital gains tax (CGT)
The rights issue in June 2001 and the demerger of O2 in November 2001 adjusted the value for capital gains tax purposes of
BT shares.
Rights issue
An explanatory note on the effects of the rights issue on the CGT position relating to BT shareholdings is available from the
Shareholder Helpline (see page 164).
Demerger of O2 – capital gains tax calculation
The confirmed official opening prices for BT Group and O2 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 O2. Accordingly, for CGT calculations, the base cost of BT Group shares and O2 shares is calculated by multiplying the acquisition
cost of a BT shareholding by 77.544% and 22.456%, respectively.
Additional information