Barclays 2006 Annual Report Download - page 290

Barclays PLC
Annual Report 2006
286
Barclays Bank PLC data
Notes to the accounts
(e) Called up share capital (continued)
the preference shares would rank equally with the holders of such TONs and RCIs on such a winding-up of Barclays Bank PLC (unless one or more
classes of shares of Barclays Bank PLC ranking in priority to the preference shares are in issue at the time of such winding-up, in which event the
holders of such TONs and RCIs would rank equally with the holders of such shares and in priority to the holders of the preference shares).
Subject to such ranking, in such event, holders of the preference shares will be entitled to receive out of assets of Barclays Bank PLC available for
distributions to shareholders, liquidating distributions in the amount of ¤10,000 per 4.875% Preference Share, ¤10,000 per 4.75% Preference Share,
£10,000 per 6.0% Preference Share, US$10,000 per 6.278% Preference Share and US$25 per 6.625% Preference Share plus, in each case, an amount
equal to the accrued dividend for the then current dividend period to the date of the commencement of the winding-up or other such return of
capital. If a dividend is not paid in full on any preference shares on any dividend payment date, then a dividend restriction shall apply.
This dividend restriction will mean that neither Barclays Bank PLC nor Barclays PLC may (a) declare or pay a dividend (other than payment by
Barclays PLC of a final dividend declared by its shareholders prior to the relevant dividend payment date, or a dividend paid by Barclays Bank PLC
to Barclays PLC or to a wholly owned subsidiary) on any of their respective ordinary shares, other preference shares or other share capital or (b)
redeem, purchase, reduce or otherwise acquire any of their respective share capital, other than shares of Barclays Bank PLC held by Barclays PLC or
a wholly owned subsidiary, until the earlier of (1) the date on which Barclays Bank PLC next declares and pays in full a preference dividend and (2) the
date on or by which all the preference shares are redeemed in full or purchased by Barclays Bank PLC.
Holders of the preference shares are not entitled to receive notice of, or to attend, or vote at, any general meeting of Barclays Bank PLC. Barclays
Bank PLC is not permitted to create a class of shares ranking as regards participation in the profits or assets of Barclays Bank PLC in priority to the
preference shares, save with the sanction of a special resolution of a separate general meeting of the holders of the preference shares (requiring a
majority of not less than three-fourths of the holders of the preference shares voting at the separate general meeting), or with the consent in writing
of the holders of three-fourths of the preference shares.
Except as described above, the holders of the preference shares have no right to participate in the surplus assets of Barclays Bank PLC.
(f) Revaluation reserves, retained earnings and other reserves
Revaluation reserves
Available Cash flow
for sale hedging Translation
reserve reserve reserve Total
£m £m £m £m
At 1st January 2006 257 70 156 483
Net gains/(losses) from changes in fair value 91 (421) – (330)
Net gains transferred to net profit (308) (51) – (359)
Currency translation differences arising during the year – – (464) (464)
Changes in insurance liabilities 23 – – 23
Net losses transferred to net profit due to fair value hedging 13 – – 13
Tax 22 172 (130) 64
Losses transferred to net profit due to impairment 86 – – 86
At 31st December 2006 184 (230) (438) (484)
Retained earnings
Retained
earnings
£m
At 1st January 2006 8,462
Profit attributable to equity holders 4,914
Equity-settled share schemes 663
Tax on equity-settled shares schemes 96
Vesting of Barclays PLC shares under share-based payment schemes (394)
Dividends paid (1,964)
Dividends on preference shares and other shareholders’ equity (329)
Other movements 108
At 31st December 2006 11,556
At 1st January 2005 6,657
Profit attributable to equity holders 3,695
Equity-settled share schemes 346
Tax on equity-settled share schemes 101
Vesting of Barclays PLC shares under share-based payment schemes (78)
Dividends paid (2,012)
Dividends on preference shares and other shareholders’ equity (217)
Other (30)
At 31st December 2005 8,462