Tesco 2015 Annual Report Download - page 146

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Share bonus schemes
The number and WAFV of share bonuses awarded during the financial year relating to the Company employees are:
2015 2014
Shares
number
WAFV
pence
Shares
number
WAFV
pence
Shares In Success 1,302 307.15 847 383.55
Executive Incentive Scheme – – – –
Performance Share Plan – – – –
Note 12 Pensions
The total cost of the pension scheme to the Company was £2.5m (2014 £2.3m). Further disclosure relating to the Tesco PLC Pension Scheme can be found
in Note 26 of the Group financial statements.
Note 13 Called up share capital
2015 2014
Ordinary shares of 5p each Ordinary shares of 5p each
Number £m Number £m
Allotted, called up and fully paid:
At beginning of the year 8,095,821,091 405 8,054,054,930 403
Share options 5,080,408 –19,662,145 1
Share bonus awards 22,090,000 122,104,016 1
At end of the year 8,122,991,499 406 8,095,821,091 405
During the financial year, 5 million (2014: 20 million) ordinary shares of 5p each were issued in relation to share options for an aggregate consideration
of £14m (2014: £61m).
During the financial year, 22 million (2014: 22 million) ordinary shares of 5p each were issued in relation to share bonus awards for an aggregate consideration
of £1.1m (2014: £1.1m).
Between 1 March 2015 and 17 April 2015, options over 5,533 ordinary shares were exercised under the terms of the Savings-related Share Option Scheme
(1981) and the Irish Savings-related Share Option Scheme (2000). Between 1 March 2015 and 17 April 2015, no options have been exercised under the
Discretionary Share Option Plan (2004).
As at 28 February 2015, the Directors were authorised to purchase up to a maximum in aggregate of 810.1 million (2014: 806.5 million) ordinary shares.
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at general meetings
of the Company.
Note 14 Reserves
2015
£m
2014
£m
Share premium account
At beginning of the year 5,080 5,020
Premium on issue of shares less costs 14 60
At end of the year 5,094 5,080
Profit and loss reserve
At beginning of the year 3,914 5,041
Share-based payments 116 54
Dividends (914) (1,189)
Net movement on cash flow hedges 15 (78)
Profit after tax for the year 3,819 86
At end of the year 6,950 3,914
Note 15 Post balance sheet events
On 20 March 2015 the Company entered into an agreement to sell its wholly owned subsidiary Tesco (Partnership) Limited, which is the holding company of the
joint venture Tesco British Land Property Partnership, and its investment in the joint venture Tesco BL Holdings Limited to British Land Co PLC (‘British Land’).
This formed part of the transaction in which the Group regained sole ownership of 21 stores which were previously held in a joint venture with British Land. The
Group received British Land’s share of 21 stores and cash of £96m. In exchange, British Land took sole ownership of three shopping centres, three retail parks and
three standalone stores which were held in the above two joint ventures between the two companies as at 28 Febuary 2015.
Note 11 Share-based payments continued
144 Tesco PLC Annual Report and Financial Statements 2015
Notes to the Parent Company financial statements
continued