Carphone Warehouse 2005 Annual Report Download - page 57

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24Share capital continued
b) Employee share option schemes
Exercise Number of options outstanding
price per share Exercisable Expiry
Date options granted £ from date 2005 2004
31/12/99 – 01/01/01 31/12/09 320,550 335,800
05/06/00 1.50 01/01/02 05/06/10 429,900 430,200
750,450 766,000
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 2 April 2005:
Exercise Number of options outstanding
price per share Exercisable Expiry
Date options granted £ from date 2005 2004
30/05/01 1.00 30/05/04 30/11/04 –618,330
30/05/01 1.00 30/05/06 30/11/06 435,738 454,862
03/07/02 0.67 03/07/05 03/01/06 1,036,256 1,133,510
03/07/02 0.67 03/07/07 03/01/08 402,125 440,658
01/06/03 0.73 01/06/06 01/12/06 1,690,915 1,909,465
01/06/03 0.73 01/06/08 01/12/08 441,978 483,864
01/08/04 1.15 01/08/07 01/02/08 2,519,274 –
01/08/04 1.15 01/08/09 01/02/10 518,014 –
7,044,300 5,040,689
25Reserves
Profit Capital
and loss Share redemption
account premium reserve Total
£’000 £’000 £’000 £’000
Group
At 27 March 2004 73,677 397,262 30 470,969
Retained profit for the financial period 33,182 – – 33,182
Currency translation 804 – – 804
Issue of share capital (2,127) 4,874 – 2,747
Employee share option schemes (see below) 2,427 – – 2,427
Purchase of own shares (see below) (8,064) – – (8,064)
At 2 April 2005 99,899 402,136 30 502,065
Company
At 27 March 2004 120,529 397,262 – 517,791
Retained loss for the financial period (16,632) – – (16,632)
Issue of share capital – 4,874 – 4,874
Employee share option schemes (see below) 2,427 – – 2,427
At 2 April 2005 106,324 402,136 – 508,460
In accordance with the exemption permitted by section 230 of the Companies Act 1985, the profit and loss account of the Company is not separately presented.
The loss attributable to the shareholders of the Company for the period is £0.9m (2004 – profit £116.4m).
Employee share option schemes
The cost of employee share option schemes relates to the grant of Performance Shares as described in the Remuneration Report on pages 26 to 31.
Purchase of own shares
As described in note 12, the Group has an Employee Share Ownership Trust which holds 7.5m shares (2004 – 2.0m) in the Company for the benefit of the Group’s
employees. The Trust has not waived its right to receive dividends and none of the shares has been allocated to specific schemes. During the period, the Trust
purchased in the market 5.6m shares in the Company at an average price of £1.45 per share. At 2 April 2005 the shares had a carrying value of £12.0m and a
market value of £12.5m (2004 – carrying value £3.9m, market value £2.8m).
Notes to the Financial Statements continued www.cpwplc.com 53