Tesco 2012 Annual Report Download - page 154
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Note 13 Called up share capital continued
Between 26 February 2012 and 13 April 2012, options over 2,779,741 ordinary shares have been exercised under the terms of the Savings-related
Share Option Scheme (1981) and the Irish Savings-related Share Option Scheme (2000). Between 26 February 2012 and 13 April 2012, options over
937,548 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 25 February 2012, the Directors were authorised to purchase up to a maximum in aggregate of 803.6 million (2011: 802.1 million) ordinary shares.
The owners 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.
Capital redemption reserve
Upon cancellation of the shares purchased as part of the share buy-back, a capital redemption reserve is created representing the nominal value of the
shares cancelled. This is a non-distributable reserve. Details of the capital redemption reserve are set out in the Group Statement of Changes in Equity.
Note 14 Reserves
2012
£m
2011
£m
Share premium
At beginning of the year 4,896 4,801
Premium on issue of shares less costs 68 95
At end of the year 4,964 4,896
Profit and loss reserve
At beginning of the year 2,621 2,731
Share-based payments 111 161
Shares purchased for cancellation – profit and loss reserve (290) –
Shares purchased for cancellation – capital redemption reserve 3–
Dividends authorised in the year (1,180) (1,081)
Losses on cash flow hedges 79 (6)
Profit after tax for the year 1,498 816
At end of the year 2,842 2,621
Notes to the Parent Company financial statements
150 Tesco PLC Annual Report and Financial Statements 2012