Experian 2008 Annual Report Download - page 141

139Experian Annual Report 2008
Introduction 2 – 5
Business review 6 – 37
Governance 38 – 64
Financial statements Company financial statements Financial statements Company financial statements
K. Share capital and share premium (continued)
At 31 March 2008, 1,023,419,769 (2007: 1,022,281,806) ordinary shares and 20 (2007: 20) deferred shares each had been allotted, called
up and fully paid. During the year ended 31 March 2008, 1,137,963 ordinary shares were allotted on the exercise of share options.
Since 31 March 2008, 31,636 ordinary shares in the Company have been issued in connection with the exercise of share options.
On 10 October 2006, the Company issued 877,444,999 ordinary shares in connection with the transfer of GUS plc and its
subsidiaries to the Company as part of the demerger process at a fair value of £8,675.6m. On 11 October 2006 the Company
issued a further 142,857,143 ordinary shares of 10 US cents each by way of a Global Offer. A further 1,979,664 ordinary shares
were allotted between 11 October 2006 and 31 March 2007 on the exercise of share options.
Share premium
Share premium of £3.7m was created in the year ended 31 March 2008 when ordinary shares were allotted under share
option schemes.
Share premium of £8,628.7m arose in the period ended 31 March 2007, in connection with the issue of 877,444,999 ordinary shares
as part of the demerger process, and comprised the excess of the fair value of the net assets of £8,675.6m acquired over the
nominal value of the shares issued of £46.9m.
On 10 October 2006, following the approval of the Jersey Court under Article 63 of the Companies (Jersey) Law 1991, the
Company reduced its share capital. This gave rise to a reduction of £8,628.7m in the share premium account and a corresponding
increase in the profit and loss account reserve.
As a result of the Company issuing 142,857,143 ordinary shares, by way of Global Offer, at a price of £5.60 per share, additional
share premium of £792.3m was created being the excess of the proceeds of the shares issued over their nominal value. Related
issue costs of £22.8m were charged against the share premium account. Additional share premium of £4.3m was created in the
balance of that period when ordinary shares were allotted under share option schemes.
The share premium account is not available for distribution.
L. Reserves
Total profit
Profit and loss
Own and loss account
shares account reserve
Year ended 31 March 2008 £m £m £m
At 1 April 2007 (86.0) 5,147.2 5,061.2
Loss for the financial year – (15.2) (15.2)
Equity dividends paid during the year – (30.9) (30.9)
Purchase of own shares by employee trusts (3.2) – (3.2)
Exercise of share options 22.7 (5.2) 17.5
Credit in respect of share incentive schemes – 33.0 33.0
At 31 March 2008 (66.5) 5,128.9 5,062.4
Period ended 31 March 2007
Loss for the financial period – (4.2) (4.2)
Transfer to profit and loss account on reduction in share capital – 8,628.7 8,628.7
Equity dividends paid during the year – (20.4) (20.4)
Dividend in specie relating to the demerger of Home Retail Group – (3,497.5) (3,497.5)
Transfer of own shares at fair value (80.1) 17.0 (63.1)
Purchase of own shares by employee trusts (33.6) – (33.6)
Exercise of share options 27.7 – 27.7
Credit in respect of share incentive schemes – 23.6 23.6
At 31 March 2007 (86.0) 5,147.2 5,061.2
Own shares represent the cost of shares in the Company held by the following trusts to satisfy the Group’s obligations under
its share incentive plans:
2008 2007
Number of Number of
shares shares
Experian Group Limited Employee Share Trust 11,970,952 13,419,683
Experian UK Approved All Employee Share Plan 834,965 926,565
GUS plc ESOP Trust – 2,340,100
12,805,917 16,686,348