Experian 2008 Annual Report Download - page 142

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140 Experian Annual Report 2008
L. Reserves (continued)
During the year ended 31 March 2008, a total of 509,518 (2007: 6,670,514) ordinary shares were purchased by the trusts at
a cost of £3.2m (2007: £33.6m). During the period ended 31 March 2007, a total of 15,090,260 shares were transferred from
GUS plc to Experian Group Limited on the novation of GUS plc’s interest in the GUS plc ESOP Trust for a fair value of £63.1m.
Subsequently a number of these shares were transferred into the Experian Group Limited Employee Share Trust. During the
year ended 31 March 2008, 4,289,949 (2007: 5,564,520) ordinary shares were transferred from the trusts to beneficiaries of the
Group’s share incentive plans. The GUS plc ESOP Trust ceased to operate during the year with the balance of the shares
held therein at 31 March 2007 either transferred to beneficiaries of the Group’s share incentive plans or transferred to the
Experian Group Limited Employee Share Trust during the year ended 31 March 2008.
As indicated in note F, during the year ended 31 March 2008 equity dividends of £30.9m (2007: £20.4m) were paid by the Company
to those Experian Group Limited shareholders who did not elect to receive dividends under the Income Access Share (‘IAS’)
arrangements. In total, dividends of £91.4m (2007: £28.5m in the post demerger period) were paid in the year of which £60.5m
(2007: £8.1m in the post demerger period) were paid by Experian Finance plc under the IAS arrangements. Further details of
the IAS arrangements are given in note 14 to the Group financial statements.
M. Reconciliation of movements in total equity shareholders’ funds
2008 2007
£m £m
Loss for the financial year (15.2) (4.2)
Equity dividends paid during the financial year (30.9) (20.4)
Dividend in specie relating to the demerger of Home Retail Group – (3,497.5)
Transfer of own shares at fair value – (63.1)
Purchase of own shares by employee trusts (3.2) (33.6)
Share issues on demerger of Home Retail Group – 8,675.6
Share issues by way of Global Offer – 777.2
Exercise of share options 21.2 32.1
Credit in respect of share incentive schemes 33.0 23.6
Net increase in total equity shareholders’ funds 4.9 5,889.7
Opening total equity shareholders’ funds 5,889.7 –
Closing total equity shareholders’ funds 5,894.6 5,889.7
N. Commitments
(i) Capital commitments
There are no significant capital commitments relating to the Company.
(ii) Operating lease commitments
The Company has an annual commitment of £0.3m (2007: £0.3m) in respect of a property lease and this commitment expires
in more than five years.
O. Contingencies
At 31 March 2008 and 31 March 2007, the Company was the guarantor for the retirement benefit obligations of the Group
companies that participate in the Experian Pension Scheme.
Notes to the parent company financial statements continued