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B Shares
Movements in the B Shares during the year were as follows:
| B Shares of 0.01p |
Nominal value £m |
|
|---|---|---|
| Authorised | ||
| At January 1, and December 31, 2005 | 1,000,000,000,000 | 1,000 |
| Issued and fully paid | ||
| At January 1, 20051 | 4,600,710,064 | 5 |
| Shares issued | 141,013,817,330 | 141 |
| Shares converted into ordinary shares | (87,425,228,890) | (87) |
| Shares redeemed | (51,638,258,304) | (52) |
| At December 31, 2005 | 6,551,040,200 | 7 |
- The adoption of FRS 25 and FRS 26 from January 1, 2005 has led to the reclassification of B Shares from equity to other creditors.