Singapore Airlines 2009 Annual Report Download - page 146
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144
14 Treasury Shares (in $ million)
The Group and the Company
31 March
2009 2008
Balance at 1 April (33.2) -
Purchase of treasury shares (64.1) (33.2)
Treasury shares reissued pursuant to equity compensation plans:
- For cash on exercise of employee share options 39.2 -
- Transferred from share-based compensation reserve 10.0 -
- Loss on reissuance of treasury shares 3.7 -
52.9 -
Balance at 31 March (44.4) (33.2)
Treasury shares relate to ordinary shares of the Company that are held by the Company. Pursuant to the
share buyback mandate approved by shareholders, the Company purchased 5,177,000 (2008: 2,301,000)
of its ordinary shares by way of on-market purchases at share prices ranging from $9.48 to $16.07 (2007-
08: $13.92 to $15.24). The total amount paid to purchase the shares was $64.1 million (2008: $33.2
million) and this is presented as a component within equity attributable to equity holders of the Company.
The Company reissued 3,417,833 (2008: nil) treasury shares pursuant to its employee share option plans at
a weighted average exercise price of $11.49 (2008: nil) each. In addition, 152,969 (2008: nil) shares were
transferred to the Company’s employees upon vesting of the share awards under the RSP. The number of
treasury shares as at 31 March 2009 was 3,907,198 (2008: 2,301,000).
Where the consideration paid by the Company for the purchase or acquisition of treasury shares is made
out of revenue reserves, such consideration will correspondingly reduce the amount available for the
distribution of cash dividend by the Company. This amounted to $44.4 million (2008: $33.2 million) as at
31 March 2009.
15 Other Reserves (in $ million)
(a) Capital reserve
Capital reserve mainly arises from the revaluation of land and buildings owned by RCMS Properties
Private Limited, an associated company and the gains or losses on the reissuance of treasury shares.
NOTES TO THE FINANCIAL STATEMENTS
31 March 2009