| Non-equity | Equity | |||||||
|---|---|---|---|---|---|---|---|---|
| Special share of £1 |
B Shares of 0.1p each |
Nominal value £m |
Preference shares of £1 each |
Nominal value £m |
Ordinary shares of 20p each |
Nominal value £m |
||
| Authorised | ||||||||
| At January 1, 2004 and December 31, 2005 |
1 | 50,000 | — | 2,499,999,998 | 500 | |||
| Upon approval of B Share scheme at the 2004 AGM |
1,000,000,000,000 | 1,000 | ||||||
| Issued and fully paid | ||||||||
| At January 1, 2004 | 1 | — | — | — | — | 1,666,619,843 | 333 | |
| Issued for B Share scheme | — | 83,922,435,550 | 84 | — | — | — | — | |
| Exercise of share options | — | — | — | — | — | 2,654,484 | 1 | |
| In lieu of paying dividends in cash | — | — | — | — | — | 10,671,927 | 2 | |
| B Share conversion into ordinary shares |
— | (52,631,193,754) | (52) | — | — | 24,826,034 | 5 | |
| Redemption of B Shares | — | (26,690,531,732) | (27) | — | — | — | — | |
| At January 1, 2005 | 1 | 4,600,710,064 | 5 | — | — | 1,704,772,288 | 341 | |
| B Shares reclassified on adoption of FRS 25 and FRS 26 |
— | (4,600,710,064) | (5) | |||||
| At January 1, 2005 (restated) | 1 | — | — | 1,704,772,288 | 341 | |||
| Exercise of share options | — | — | — | 19,174,767 | 4 | |||
| B Share conversion into ordinary shares |
— | — | — | 34,754,246 | 7 | |||
| At December 31, 2005 | 1 | — | — | 1,758,701,301 | 352 | |||
Certain rights, set out in the Company's Articles of Association, attach to the special rights redeemable preference share (special share) issued to HM Government. Subject to the provisions of the Companies Act 1985, the special share may be redeemed by the Treasury Solicitor at par at any time. The special share confers no rights to dividends or to vote at general meetings but in the event of a winding-up it shall be repaid at its nominal value in priority to any other shares.