HSBC 2001 Annual Report Download - page 201

199
26 Investments
(a) HSBC Holdings
Shares in
H
SB
C
Undertakings
Loans to
HSBC
Undertakings
Other
investments
other than
loans Own shares Tota
l
US$m US$m US$m US$m US$m
At 1 January 2001.................... 46,395 5,406 289 564 52,654
Additions ................................. 3,396 150 389 17 3,952
Repayments and redemptions ..
–
(1,384) (237) (16) (1,637)
Amortisation ...........................
–
–
–
(10) (10)
Transfers to other HSBC
companies............................. (934) –
–
–
(934)
Write-up of subsidiary
undertakings to net asset
value, including attributable
goodwill (Note 36) ............... 496 –
–
–
496
At 31 December 2001 49,353 4,172 441 555 54,521
‘Loans to HSBC undertakings’ includes qualifying or regulatory capital and similar financing which can only be
repaid by the relevant HSBC undertaking with the consent of its local regulatory authority.
Included within ‘Own shares’ are:
(i) US$16 million, after amortisation, of HSBC Holdings’ own shares (2000: US$10 million) held in trust for
the purposes of conditional awards under the Restricted Share Plan, details of which are provided in the
‘Report of the Directors’ on pages 146 and 147. At 31 December 2001, the trust held 3,230,422 ordinary
shares (2000: 2,030,652 ordinary shares) of US$0.50 each with a market value at that date of
US$37,735,716 (2000: US$29,840,868) in respect of these conditional awards.
(ii) US$539 million of HSBC Holdings’ own shares (2000: US$554 million) held in trust which may be used
in respect of the exercise of share options. At 31 December 2001, the trust held 38,788,413 ordinary shares
(2000: 39,838,800 ordinary shares) of US$0.50 each with a market value of US$453,101,339 (2000: US$
585,439,731) in respect of these option holders.
In addition, HSBC Holdings’ own shares were held in trust by other HSBC group companies for the purposes of
conditional awards under the Restricted Share Plan. At 31 December 2001, such trusts held 3,455,821 shares
(2000: 1,890,733) of nominal value US$0.50 with a market value at that date of US$40,368,700 (2000:
US$27,784,727).
HSBC Holdings’ own shares are included within ‘Equity Shares’ (Note 20) in the Consolidated Balance Sheet.
2001 2000
US$m US$m
On the historical cost basis, shares in HSBC undertakings would have been
included as follows:
Cost less provisions of US$170 million (2000: US$170 million) ...................... 40,391 37,929