Carphone Warehouse 2004 Annual Report Download - page 45

The Carphone Warehouse Group PLC Annual Report 2004
43
24Share capital
2004 2003 2004 2003
Group and Company million million £’000 £’000
Authorised
Ordinary shares of 0.1p each 1,000 1,000 1,000 1,000
Allotted, called-up and fully paid
Ordinary shares of 0.1p each 874 873 874 873
Movements in share capital in the period arose from the exercise of share options.
Share options
The Group has issued the following options to purchase ordinary shares in the Company:
a) Executive share option schemes
Exercise Number of options outstanding
price per share Exercisable Expiry
Date options granted £ from date 2004 2003
01/04/99 0.25 14/07/00 01/04/09 950,000 1,435,000
02/04/99 0.80 20/01/01 02/04/09 666,660 666,660
25/07/99 0.25 14/07/00 25/07/09 10,000 10,000
01/04/99 0.50 14/07/00 01/04/09 540,000 890,000
25/07/99 0.50 14/07/00 25/07/09 319,000 329,000
06/10/99 0.50 14/07/00 06/10/09 200,000 200,000
06/10/99 0.50 30/06/01 06/10/09 120,000 120,000
01/02/00 0.80 14/07/00 01/02/10 500,000 500,000
01/02/00 0.80 30/06/02 01/02/10 200,000 200,000
02/04/99 1.00 21/07/02 02/04/09 166,665 166,665
02/04/99 1.00 21/07/03 02/04/09 166,665 166,665
01/02/00 1.00 14/07/00 01/02/10 1,000,000 1,000,000
01/02/00 1.00 30/06/03 01/02/10 200,000 200,000
24/06/00 1.50 24/06/02 24/06/10 4,000,000 4,000,000
19/05/00 1.50 19/05/02 19/05/10 5,992,900 9,107,200
19/05/00 2.00 19/05/02 19/05/10 600,000 600,000
21/05/01 1.25 21/05/04 21/05/11 6,201,391 6,977,809
01/12/01 1.30 01/12/04 01/12/11 430,648 430,648
25/03/02 0.80 25/03/05 25/03/12 1,000,000 1,000,000
11/06/02 0.83 11/06/05 11/06/12 7,430,034 7,949,761
11/06/02 0.83 11/06/05 11/06/12 (i) 7,430,034 7,949,761
28/11/02 0.86 28/11/05 28/11/12 126,744 181,977
06/06/03 0.90 06/06/06 06/06/13 6,958,221 –
06/06/03 0.90 06/06/06 06/06/13 (i) 6,958,221 –
07/11/03 1.35 07/11/06 07/11/13 165,000 –
07/11/03 1.35 07/11/06 07/11/03 (i) 165,000 –
20/01/04 1.44 20/01/07 20/01/14 (ii) 5,950,000 –
58,447,183 44,081,146
(i) Options granted from April 2002 are subject to the same performance conditions as described in the Remuneration Report on pages 20 to 23.
These options will only be exercisable in full if the Group’s performance is in the upper quartile at the end of the relevant period.
(ii) Exercises of these options are conditional upon the achievement of performance targets specific to the Distribution business.
b) Employee share option schemes
Exercise Number of options outstanding
price per share Exercisable Expiry
Date options granted £ from date 2004 2003
31/12/99 – 01/01/01 31/12/09 335,800 343,600
05/06/00 1.50 01/01/02 05/06/10 430,200 430,200
766,000 773,800
The savings-related share option scheme permits the grant to employees of options linked to a bank save-as-you-earn contract for a term of three
or five years with contributions from employees of an amount between £5 and £250 per month. Options may be exercised at the end of the three or
five year period at a subscription price not less than 80% of the middle market quotation of an ordinary share immediately prior to the date of grant.
The following options were outstanding at 27 March 2004:
Exercise Number of options outstanding
price per share Exercisable Expiry
Date options granted £ from date 2004 2003
30/05/01 1.00 30/05/04 30/11/04 618,330 777,654
30/05/01 1.00 30/05/06 30/11/06 454,862 526,486
03/07/02 0.67 03/07/05 03/01/06 1,133,510 1,331,480
03/07/02 0.67 03/07/07 03/01/08 440,658 555,169
01/06/03 0.73 01/06/06 01/12/06 1,909,465 –
01/06/03 0.73 01/06/08 01/12/08 483,864 –
5,040,689 3,190,789