Ryanair 2011 Annual Report Download - page 169

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167
The present value of the net pension obligation before tax is 14.9 million (2010: 110.3 million; 2009:
110.1 million) in Ryanair Limited. See Note 21 to the consolidated financial statements for further details.
14 Other creditors
This consists of deferred gains arising from the sale and leaseback of aircraft. During fiscal year 2011,
Ryanair returned 10 sale-and-leaseback aircraft and entered into sale-and-leaseback arrangements for six (2010:
12; 2009: 8) new Boeing 737-800 “next generation” aircraft, bringing total sale-and-leaseback aircraft to 51 as
at March 31, 2011.
15 Issued share capital, share premium account and share options
(a) Share capital
At March 31,
2011 2010 2009
1M 1M 1M
Authorised:
1,680,000,000 ordinary equity shares of 0.635 euro cent each
................................
10.7 10.7 10.7
Allotted, called-up and fully paid:
1,489,574,915 ordinary equity shares of 0.635 euro cent each
................................
9.5 - -
1,478,935,935 ordinary equity shares of 0.635 euro cent each
................................
- 9.4 -
1,473,356,159 ordinary equity shares of 0.635 euro cent each
................................
- - 9.4
The movement in the share capital balance year on year principally relates to 10.6 million (2010: 5.6
million; 2009: 0.7 million) new shares issued due to the exercise of share options. For the 2011 fiscal year there
were no cancellations of shares relating to any share buy-backs (2010: nil; 2009: 18.1 million).
The share capital of Ryanair consists of one class of stock, the ordinary equity shares. The ordinary
equity shares do not confer on the holders thereof the specific right to be paid a dividend out of profits.
(b) Share premium account
At March 31,
2011 2010 2009
1M 1M 1M
Balance at beginning of year ................................................................
.........................
631.9 617.4 615.8
Share premium arising from the exercise of 10.6 million options in
fiscal 2011, 5.6 million options in fiscal 2010 and 0.7 million
options in fiscal 2009 ................................................................
.............................
27.4 14.5 1.6
Balance at end of year................................................................
................................
659.3 631.9 617.4
(c) Share options and share purchase arrangements
The Company has adopted a number of share option plans, which allow current or future employees or
executive directors to purchase shares in the Company up to an aggregate of approximately 5% (when
aggregated with other ordinary shares over which options are granted and which have not yet been exercised) of
the outstanding ordinary shares of Ryanair Holdings plc, subject to certain conditions. All grants are subject to
approval by the Remuneration Committee. These are exercisable at a price equal to the market price of the
ordinary shares at the time options are granted. The key terms of these option plans include the requirement that
certain employees remain in employment with the Company for a specified period of time.