Barclays 2006 Annual Report Download - page 213

Barclays PLC
Annual Report 2006 209
Financial statements
3
36 Ordinary shares and share premium
Number of Ordinary Share
shares shares premium Total
m£m£m£m
At 1st January 2006 6,490 1,623 5,650 7,273
Issued to staff under the Sharesave Share Option Scheme 18 5 67 72
Issued under the Incentive Share Option Plan 25 6 96 102
Issued under the Executive Share Option Scheme(a) 1–33
Issued under the Woolwich Executive Share Option Plan(a) 1–22
At 31st December 2006 6,535 1,634 5,818 7,452
At 1st January 2005 6,454 1,614 5,524 7,138
Issued to staff under the Sharesave Share Option Scheme 26 6 79 85
Issued under the Incentive Share Option Plan 8 2 39 41
Issued under the Executive Share Option Scheme 2189
At 31st December 2005 6,490 1,623 5,650 7,273
The authorised share capital of Barclays PLC is £2,500m (2005: £2,500m), comprising 9,996 million (2005: 9,996 million) ordinary shares of 25p
each and 1 million (2005: 1 million) staff shares of £1 each. All issued shares are fully paid.
2006 2005
Called up share capital, allotted and fully paid £m £m
Ordinary shares:
At beginning of year 1,622 1,613
Issued to staff under the Sharesave Share Option Scheme 56
Issued under Incentive Share Option Plan 62
Issued under Woolwich Executive Share Option Plan –1
At end of year 1,633 1,622
Staff shares 11
Total 1,634 1,623
Share repurchase
No share repurchases were made during the year (2005: £nil).
At the 2006 AGM on 27th April, Barclays PLC was authorised to repurchase 968,600,000 of its ordinary shares of 25p. The authorisation is effective
until the AGM in 2007.
Shares under option
The Group has four schemes that give employees rights to subscribe for shares in Barclays PLC. A summary of the key terms of each scheme are
included in Note 51.
At 31st December 2006, 78.9 million (2005: 85.7 million) options were outstanding under the terms of the Sharesave Share Option Scheme
(Sharesave), 1.7 million (2005: 2.6 million) options were outstanding under the terms of the Executive Share Option Scheme (ESOS), 0.7 million
(2005: 1.3 million) options were outstanding under the terms of the Woolwich Executive Share Option Plan (Woolwich ESOP) and 77.5 million
(2005: 105.1 million) options were outstanding under the terms of the Incentive Share Option Plan (ISOP), enabling certain Directors and members
of staff to subscribe for ordinary shares between 2006 and 2015 at prices ranging from 176p to 562p.
In addition to the above, the independent trustee of the Barclays Group (ESAS) Employees’ Benefit Trust (ESAS Trust), established by Barclays Bank
PLC in 1996, operates the Executive Share Award Scheme (ESAS). ESAS is a deferred share bonus plan for employees of the Group. The key terms of
the ESAS are described in Note 51. The independent trustees of the ESAS Trust make awards of Barclays shares and grant options over Barclays
shares to beneficiaries of the ESAS Trust. Beneficiaries of the ESAS Trust include employees and former employees of the Barclays Group.
The independent trustee of the Barclays Group (PSP and ESOS) Employees’ Benefit Trust (PSP Trust), established by Barclays Bank PLC in 1996,
operates the Performance Share Plan (PSP) and may satisfy awards under the ESOS. No awards have been made under this trust since 1999.
All awards are in the form of options over Barclays shares.
The Sharepurchase scheme which was established in 2002 is open to all eligible UK employees, including executive Directors. The key terms of the
Sharepurchase scheme are described in Note 51.
The total number of Barclays shares held in Group employee benefit trusts at 31st December 2006 was 168 million (2005: 148 million). Dividend
rights have been waived on nil (2005: nil) of these shares. The total market value of the shares held in trust based on the year-end share price of
£7.30 (2005: £6.11) was £1,227m (2005: £904m). As at 31st December 2006, options over 9.6 million (2005: 9.5 million) of the total shares held in
the trusts were exercisable.
Note
(a) The nominal value for share options issued during 2006 for the Executive Share Option Scheme and Woolwich ESOP was less than £500,000 in each case.