The way ahead? - Vodafone

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82 Vodafone has been advised that for non-executive directors who are based overseas, any travel expenses in relation to attending board meetings should be included as a benefit. The table on page 81 now includes these travel expenses for both the 2012 and 2013 financial years. Beneficial interests The beneficial interests of directors and their connected persons in the ordinary shares of the Company, which includes interests in the Vodafone Share Incentive Plan, but which excludes interests in the Vodafone Group share option schemes, and the Vodafone Group short-term or long-term incentives, are shown below: 20 May 2013 31 March 2013 1 April 2012 or date of appointment Vittorio Colao 6,813,283 6,813,283 3,354,896 Andy Halford 2,174,686 2,174,426 2,527,649 Stephen Pusey 1,132,019 1,132,019 698,264 Renee James 50,000 50,000 50,000 Alan Jebson 82,340 82,340 82,340 Samuel Jonah 55,350 55,350 55,350 Gerard Kleisterlee 109,552 109,552 100,000 Omid Kordestani 1 – – – Nick Land 35,000 35,000 35,000 Anne Lauvergeon 29,922 29,922 28,936 Luc Vandevelde 91,563 91,563 90,478 Anthony Watson 115,000 115,000 115,000 Philip Yea 61,249 61,249 61,249 Note: 1 Omid Kordestani was appointed to the Board on 1 March 2013. At 31 March 2013 and during the period from 1 April 2013 to 20 May 2013, no director had any interest in the shares of any subsidiary company. Other than those individuals included in the table above who were Board members at 31 March 2013, members of the Group’s Executive Committee at 31 March 2013 had an aggregate beneficial interest in 7,728,527 ordinary shares of the Company. At 20 May 2013 the directors had an aggregate beneficial interest in 10,749,964 ordinary shares of the Company and the Executive Committee members had an aggregate beneficial interest in 7,925,243 ordinary shares of the Company, which includes the addition of a new Executive Committee member appointed after 31 March 2013. None of the directors or the Executive Committee members had an individual beneficial interest amounting to greater than 1% of the Company’s ordinary shares. Interests in share options of the Company At 20 May 2013 there had been no change to the directors’ interests in share options from 31 March 2013 (see page 81). Other than those individuals included in the table above, at 20 May 2013 members of the Group’s Executive Committee held options for 2,592,271 ordinary shares at prices ranging from 115.3 pence to 167.8 pence per ordinary share, with a weighted average exercise price of 162.2 pence per ordinary share exercisable at dates ranging from July 2008 to July 2017. Renee James, Alan Jebson, Samuel Jonah, Gerard Kleisterlee, Omid Kordestani, Nick Land, Anne Lauvergeon, Luc Vandevelde, Anthony Watson and Philip Yea held no options at 20 May 2013. Directors’ interests in contracts None of the current directors had a material interest in any contract of significance to which the Company or any of its subsidiaries was a party during the financial year. Luc Vandevelde On behalf of the Board 21 May 2013 Vodafone Group Plc Annual Report 2013 Directors’ remuneration (continued)
Overview Contents Business review Performance Governance Financials Page 84 Directors’ statement of responsibility 85 Audit report on internal control over financial reporting 86 Critical accounting estimates 88 Audit report on the consolidated financial statements 90 Consolidated financial statements and financial commentary † 90 Consolidated income statement 90 Consolidated statement of comprehensive income 92 Consolidated statement of financial position 94 Consolidated statement of changes in equity 96 Consolidated statement of cash flows 98 Notes to the consolidated financial statements: 98 1. Basis of preparation 98 2. Significant accounting policies 100 3. Operating profit 101 4. Directors and key management compensation 102 5. Employees 103 6. Investment income and financing costs 104 7. Taxation 107 8. Earnings per share 107 9. Equity dividends 108 10. Intangible assets 109 11. Acquisitions and disposals 111 12. Impairment review 115 13. Property, plant and equipment 116 14. Investments in joint ventures 117 15. Investments in associates 117 16. Other investments 118 17. Trade and other receivables 119 18. Trade and other payables 120 19. Provisions 121 20. Commitments 121 21. Contingent liabilities 123 22. Reconciliation of net cash flow from operating activities 123 23. Cash and cash equivalents 124 24. Borrowings 128 25. Called up share capital 128 26. Subsequent events Page 129 Financial statement note appendices: 129 A1. Significant accounting policies 136 A2. Segment analysis 140 A3. Inventory 140 A4. Share-based payments 142 A5. Post employment benefits 144 A6. Capital and financial risk management 148 A7. Related party transactions 149 A8. Principal subsidiaries 150 A9. Subsidiaries exempt from audit 151 Other unaudited financial information: 151 Prior year operating results 155 Liquidity and capital resources 159 Audit report on the Company financial statements 160 Company financial statements of Vodafone Group Plc 161 Notes to the Company financial statements: 161 1. Basis of preparation 161 2. Significant accounting policies 163 3. Fixed assets 163 4. Debtors 163 5. Other investments 163 6. Creditors 164 7. Share capital 164 8. Share-based payments 164 9. Reserves and reconciliation of movements in equity shareholders’ funds 165 10. Equity dividends 165 11. Contingent liabilities Additional information 83 Vodafone Group Plc Annual Report 2013 Reporting our financial performance This year we have changed the format of our consolidated financial statements, with the aim of making them clear and easier to follow. On pages 90 to 97 we have created an integrated financial review, combining a commentary on items within the primary financial statements. We have changed the order of the footnotes to help with the flow of information, focusing on areas that we feel are key to understanding our business. Additional information that we are required to disclose by accounting standard or regulation has been moved to appendices. In addition, each footnote now begins with a simple introduction outlining the purpose of the note. We hope this format makes it easier for you to navigate to the information that is important to you. † The financial commentary on pages 91, 93, 95 and 97 form part of the business review and are unaudited.
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Vodafone Group Plc Annual Report fo
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The way ahead? - Vodafone

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