Peachtree 2012 Annual Report Download - page 118

Download and view the complete annual report

Please find page 118 of the 2012 Peachtree annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

Net debt and capital structure continued
14 Equity continued
14.2 Share-based payments continued
A reconciliation of option movements over the year is shown below:
2012 2011
Number
’000s
Weighted
average
price
£
Number
’000s
Weighted
average
price
£
Outstanding at 1 October 3,099 1.81 3,147 1.68
Awarded 1,438 2.01 757 2.34
Forfeited (394) 2.08 (328) 1.76
Exercised (1,062) 1.54 (477) 1.78
Outstanding at 30 September 3,081 1.96 3,099 1.81
Exercisable at 30 September 102 1.51 83 1.78
2012 2011
Weighted
average
exercise
price
£
Number
of shares
’000s
Weighted average
remaining life years
Weighted
average
exercise
price
£
Number
of shares
’000s
Weighted average
remaining life years
Range of exercise prices
£ Expected Contractual Expected Contractual
1.49 – 2.34 1.96 3,081 2.3 2.8 1.81 3,099 2.0 2.5
14.3 Share premium
£m
At 1 October 2010 499.8
Premium on shares issued during the year under share option schemes 13.4
A
t 1 October 2011 513.2
Premium on shares issued during the year under share option schemes 11.3
At 30 September 2012 524.5
14.4 Other reserves
Translation
reserve
£m
Hedge
reserve
£m
Merger
reserve
£m
Other
reserve
£m
Total
other
reserves
£m
At 1 October 2010 199.2 (1.0) 61.1 – 259.3
Exchange differences on translating foreign operations 6.5 – – – 6.5
Cash flow hedges: Fair value losses in the year – 1.0 – – 1.0
At 30 September 2011 205.7 – 61.1 – 266.8
Exchange differences on translating foreign operations (66.6) – – – (66.6)
Exchange differences recycled to the income statement in respect of the
disposal of foreign operations (55.7) –
– – (55.7)
Put and call arrangement – – – (68.0) (68.0)
At 30 September 2012 83.4 – 61.1 (68.0) 76.5
Translation reserve
The translation reserve represents the accumulated exchange differences arising since the transition to IFRS from the following sources:
the impact of the translation of subsidiaries with a functional currency other than Sterling; and
exchange differences arising on hedging instruments that are designated hedges of a net investment in foreign operations, net of tax where applicable.
Exchange differences arising prior to the IFRS transition were offset against retained earnings.
Hedge reserve
The hedge reserve records movements on derivative financial instruments designated as cash flow hedges.
116