Singapore Airlines 2010 Annual Report Download - page 141
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ANNUAL REPORT 2009/10
139
14 Treasury Shares (in $ million)
The Group and the Company
31 March
2010 2009
Balance at 1 April (44.4) (33.2)
Purchase of treasury shares - (64.1)
Treasury shares reissued pursuant to equity compensation plans:
- For cash on exercise of employee share options 36.0 39.2
- Transferred from share-based compensation reserve 13.7 10.0
- (Gain)/Loss on reissuance of treasury shares (6.2) 3.7
43.5 52.9
Balance at 31 March (0.9) (44.4)
Treasury shares relate to ordinary shares of the Company that are held by the Company.
During the financial year, no shares were purchased for the purposes of fulfilling the Company’s obligations under the equity
compensation plans.
In the previous financial year, the Company purchased 5,177,000 of its ordinary shares by way of on-market purchases
at share prices ranging from $9.48 to $16.07. The total amount paid to purchase the shares was $64.1 million and this is
presented as a component within equity attributable to equity holders of the Company.
The Company reissued 3,368,356 (2009: 3,417,833) treasury shares pursuant to its employee share option plans at a
weighted average exercise price of $10.67 (2009: $11.49) each. In addition, 104,966 (2009: nil) shares and 357,392
(2009: 152,969) shares were reissued pursuant to the PSP and RSP respectively. The number of treasury shares as at
31 March 2010 was 76,484 (2009: 3,907,198).
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 dividends by the Company.