Tesco 2007 Annual Report Download - page 109

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107
PARENT COMPANY
FINANCIAL STATEMENTS
Note 11 Share-based payments continued
For the year ended 25 February 2006
Savings-related Approved Unapproved Nil cost
share option scheme share option scheme share option scheme share options
Options WAEP Options WAEP Options WAEP Options WAEP
Outstanding at
26 February 2005 43,206 194.83 278,079 114.42 10,667,969 230.95 1,126,257 0.00
Granted 7,788 248.00 28,776 312.75 2,405,116 312.75 2,333,201 0.00
Exercised (8,520) 198.00 (262,890) 109.62 (1,005,058) 248.02 – –
Outstanding at
25 February 2006 42,474 203.95 43,965 272.93 12,068,027 245.83 3,459,458 0.00
Exercisable as at
25 February 2006 ––––4,185,280–––
Exercise price range (pence) –––––164.00 to – Nil
259.00
Weighted average remaining
contractual life (years) –––––5.36 – –
Note 12 Pensions
The total cost of the Pension scheme to the Group was £167m (2006 – £292m). Further disclosure relating to the Tesco PLC Pension
Scheme can be found in note 23 of the Group financial statements.
Note 13 Called up share capital
2007 2006
Ordinary shares of 5p each Ordinary shares of 5p each
Number £m Number £m
Authorised:
At beginning of year 10,700,000,000 535 10,600,000,000 530
Authorised during the year 158,000,000 8 100,000,000 5
At end of year 10,858,000,000 543 10,700,000,000 535
Allotted, called up and fully paid:
At beginning of year 7,894,476,917 395 7,783,169,542 389
Scrip dividend election 75,205,082 3 53,639,219 3
Share options 75,994,892 4 57,668,156 3
Share buyback (98,327,333) (5) – –
At end of year 7,947,349,558 397 7,894,476,917 395
During the financial year, 151 million (2006 – 111 million) shares of 5p each were issued for aggregate consideration of £395m
(2006 – £290m), which comprised £239m (2006 – £167m) for scrip dividend and £156m (2006 – £123m) for share options.
During the year, the Company purchased and subsequently cancelled 98,327,333 shares of 5p each (representing 1% of the
called up share capital) at an average price of £3.89 per share. The total consideration, including expenses, was £385m. The
excess of the consideration over the nominal value has been charged to retained earnings.
Between 25 February 2007 and 16 April 2007, options over 3,263,739 ordinary shares have been exercised under the terms of
the savings-related share option scheme (1981) and the Irish savings-related option scheme (2000). Between 25 February 2007
and 16 April 2007, options over 2,242,269 ordinary shares have been exercised under the terms of the executive share option
schemes (1994 and 1996) and the discretionary share option plan (2004).
As at 24 February 2007, the Directors were authorised to purchase up to a maximum in aggregate of 790.5 million
(2006 – 778.7 million) ordinary shares.
The holders of ordinary shares are entitled to received dividends as declared from time-to-time and are entitled to one vote
per share at the meetings of the Company.