Barclays 2012 Annual Report Download - page 291

The strategic report Governance Risk review Financial review Financial statements Risk management Shareholder information
31 Subordinated liabilities continued
Dated loan capital
Dated loan capital is issued by the Bank and respective subsidiaries for the development and expansion of their business and to strengthen their
respective capital bases. The principal terms of the dated loan capital are described below:
Subordination
All dated loan capital ranks behind the claims against the bank of depositors and other unsecured unsubordinated creditors but before the claims
of the undated loan capital and the holders of their equity. The dated loan capital issued by subsidiaries, are similarly subordinated.
Interest
Interest on the Floating Rate Notes are fixed periodically in advance, based on the related interbank or local central bank rates.
All other Non-Convertible Notes are generally fixed interest for the life of the issue, but some are reset to a floating rate after a fixed period, with
varying interest rate terms.
Repayment
Those Notes with a call date are repayable at the option of the issuer, on conditions governing the respective debt obligations, some in whole or in
part, and some only in whole. The remaining dated loan capital outstanding at 31 December 2012 is redeemable only on maturity, subject in
particular cases, to provisions allowing an early redemption in the event of certain changes in tax legislation or regulations.
Any repayments prior to maturity require, in the case of the Bank, the prior notification to the FSA, or in the case of the overseas issues, the
approval of the local regulator for that jurisdiction.
There are no committed facilities in existence at the balance sheet date which permit the refinancing of debt beyond the date of maturity.
The other capital issued by Barclays Kenya, Botswana and Zambia includes amounts of £15m (2011: £26m) issued by Barclays Botswana that are
convertible. These are repayable at the option of the issuer, prior to maturity, on conditions governing the respective debt obligations, some in
whole or in part and some only in whole.
Other
The 7.625% Contingent Capital Notes will be automatically transferred from investors to Barclays PLC (or another entity within the Group) for nil
consideration should the Core Tier 1 or Common Equity Tier 1 capital of the Group (as relevant at the time) fall below 7.0% on certain dates as
specified in the terms.
The 5.14% Lower Tier 2 Notes and the 7.625% Contingent Capital Notes were registered under the US Securities Act of 1933. All other issues of
dated loan capital have been made in the Euro currency market, local markets and/or under Rule 144A.
32 Ordinary shares, share premium, and other equity
Called up share capital, allotted and fully paid
Number of
shares
m
Ordinary
shares
£m
Share
premium
£m
Total
£m
As at 1 January 2012 12,199 3,050 9,330 12,380
Issued to staff under share incentive plans 44 11 86 97
As at 31 December 2012 12,243 3,061 9,416 12,477
As at 1 January 2011 12,182 3,045 9,294 12,339
Issued to staff under share incentive plans 17 5 36 41
As at 31 December 2011 12,199 3,050 9,330 12,380
Warrants
On 31 October 2008, Barclays PLC issued warrants to subscribe for up to 1,516.9 million new ordinary shares at a price of £1.97775, in conjunction
with a simultaneous issue by Barclays Bank PLC of Reserve Capital Instruments. No warrants were exercised during either 2012 or 2011. As at 31
December 2012, there were unexercised warrants to subscribe for 379.2 million shares (2011: 379.2 million), which were exercised on 13 February
2013. Refer to Note 47 Events after the balance sheet date for further details.
Share repurchase
At the 2012 AGM on 27 April 2012, Barclays PLC was authorised to repurchase 1,220,174,570 of its ordinary shares of 25p. The authorisation is
effective until the AGM in 2013 or the close of business on 30 June 2013, whichever is the earlier. No share repurchases were made during either
2012 or 2011.
barclays.com/annualreport Barclays PLC Annual Report 2012 I 289