Financial Statements
Notes to the Group financial statements
for the year ended 31 March 2006
29. Share capital and share premium
| Number | Share | Share | ||
| of | capital | premium | ||
| shares | ||||
| Year ended 31 March 2006 | Notes | m | £m | £m |
| At 1 April 2005 | 1,017.2 | 254 | 69 | |
| Allotted under share option schemes | 31 | 4.8 | 2 | 28 |
| Share consolidation | (142.8) | – | – | |
| Balance at 31 March 2006 | 879.2 | 256 | 97 | |
| Number | Share | Share | ||
| of | capital | premium | ||
| shares | ||||
| Year ended 31 March 2005 | Notes | m | £m | £m |
| At 1 April 2004 | 1,014.0 | 254 | 35 | |
| Allotted under share option schemes | 31 | 6.7 | 1 | 34 |
| Shares cancelled on purchase | (3.5) | (1) | – | |
| Balance at 31 March 2005 | 1,017.2 | 254 | 69 |
Authorised share capital
At 31 March 2006 and 31 March 2005 the authorised share capital of the Company
amounted to £313m. At 31 March 2006 this comprised 1,075,000,000 Ordinary
shares of 29 3/43p (2005: 1,250,000,000 Ordinary shares of 25p). At 31 March
2006, 879,240,912 Ordinary shares of 29 3/43p each had been allotted, called
up and fully paid. At 31 March 2005, 1,017,236,451 Ordinary shares of 25p
each had been allotted, called up and fully paid. The change in the par value
of the Company’s shares was in connection with the share consolidation.
At an Extraordinary General Meeting on 13 December 2005, the shareholders of GUS plc approved a consolidation of GUS shares, replacing 1,023m Ordinary shares of 25p each with 880m Ordinary shares of 29 3/43p each. The share consolidation was designed to keep the GUS share price at approximately the same level, subject to normal market movements, before and after the demerger of the Group’s remaining interest in Burberry Group plc. For every 1,000 Ordinary shares of 25p each held immediately prior to the demerger, shareholders received 305 Ordinary shares of 0.05p each in Burberry Group plc and 860 Ordinary shares of 29 3/43p each in GUS plc.
