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The Sage Group plc | Annual Report & Accounts 2015 149
FINANCIAL STATEMENTSGOVERNANCESTRATEGIC REPORT
A reconciliation of award movements over the year is shown below:
2015 2014
’000s
ge
exercise
price
£
Number
’000s
Weighted
average
exercise
price
£
Outstanding at 1 October 1,451 – 720 –
Awarded 363 – 1,151 –
Forfeited (296) – (420) –
Exercised (350) – ––
Outstanding at 30 September 1,168 – 1,451 –
Exercisable at 30 September – – ––
2015 2014
Weighted average
remaining life years
Weighted average
remaining life years
Range of exercise prices Expected Contractual Expected Contractual
N/A 1.1 1.0 1.9 1.9
The Sage Gr Savings-related Share Option Plan (the “SAYE Plan”)
The Group operates an approved savings-related share option scheme for UK employees. The fair value is expensed over the service
period of three, five or seven years on the assumption that 20% of options will lapse over the service period as employees leave the Group.
In the year, 1,241,905 (2014: 1,532,520) options were granted under the terms of the Savings-related Share Option Scheme.
14.3 Other reserves
Translation
reserve
£m
Merger
reserve
£m
Other
reserve
£m
Total
other
reserves
£m
At 30 September 2013 (restated) 67.1 61.1 (68.0) 60.2
Exchange differences on translating foreign operations (restated) (38.1) – – (38.1)
Purchase of non-controlling interest – – 68.0 68.0
At 30 September 2014 (restated) 29.0 61.1 – 90.1
Exchange differences on translating foreign operations (23.2) – – (23.2)
At 30 September 2015 5.8 61.1 – 66.9
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.
Merger reserve
Merger reserve brought forward relates to the merger reserve which was present under UK GAAP and frozen on transition to IFRS.
Other reserve
Other reserve relates to the recognition of a put and call arrangement to acquire the remaining non-controlling interest’s 25% share in
Folhamatic. This was acquired in 2014. See note 13.4.