RBS 2009 Annual Report Download - page 271

Financial statements
Notes on the accounts
269RBS Group Annual Report and Accounts 2009
10 Earnings per ordinary and B share
Earnings per ordinary and B share have been calculated based on the following:
Group
2009 2008 2007
£m £m £m
Earnings:
(Loss)/earnings attributable to ordinary and B shareholders (3,607) (24,306) 7,303
Add back loss from discontinued operations attributable to ordinary and B shareholders 72 86 —
Gain on redemption of paid-in equity 200 ——
(Loss)/earnings from continuing operations attributable to ordinary and B shareholders (3,335) (24,220) 7,303
Add back finance cost on dilutive convertible securities — —60
Diluted (loss)/earnings from continuing operations attributable to ordinary and B shareholders (3,335) (24,220) 7,363
Weighted average number of shares (millions):
Ordinary shares in issue during the year 51,494 16,563 11,413
B shares in issue during the year 1,397 ——
Weighted average number of ordinary and B shares in issue during the year 52,891 16,563 11,413
Effect of dilutive share options and convertible securities 438 — 198
Diluted weighted average number of ordinary and B shares in issue during the year 53,329 16,563 11,611
The numbers of shares in issue in prior years were adjusted retrospectively for the bonus element of the rights issue completed in June 2008 and the
capitalisation issue in September 2008. The contingent agreement with HM Treasury enabling it to place up to 16 billion new B shares at 50p each
had a dilutive effect in 2009. None of the convertible securities had a dilutive effect in 2009 or 2008. All convertible securities had a dilutive effect in
2007 and have been included in the computation of diluted earnings per share.