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21. Transactions with equity shareholders<br />
Share Additional Capital<br />
premium Own shares paid-in redemption<br />
account held capital reserve<br />
£m £m £m £m<br />
1 April 2005 52,284 (5,121) 100,081 −<br />
Issue of new shares 152 − (44) −<br />
Purchase of own shares − (6,500) − −<br />
Own shares released on vesting of share awards 8 370 (8) −<br />
Cancellation of own shares held − 3,053 − 128<br />
Share-based payment charge, inclusive of tax credit of £9 million − − 123 −<br />
31 March 2006 52,444 (8,198) 100,152 128<br />
Issue of new shares 154 − (44) −<br />
Own shares released on vesting of share awards − 151 − −<br />
Share consolidation (9,026) − − −<br />
B share capital redemption − − − 5,713<br />
B share preference dividend − − − 3,291<br />
Share-based payment charge, inclusive of tax charge of £16 million – − 77 −<br />
31 March 2007 43,572 (8,047) 100,185 9,132<br />
Issue of new shares 263 − (134) −<br />
Own shares released on vesting of share awards 14 191 (14) −<br />
B share capital redemption − − − 7<br />
Transfer of B share nominal value in respect of own shares deferred and cancelled (915) − − 915<br />
Share-based payment charge, inclusive of tax credit of £7 million − − 114 −<br />
31 March 2008 42,934 (7,856) 100,151 10,054<br />
22. Movements in accumulated o<strong>the</strong>r recognised income and expense<br />
Availablefor-sale<br />
Asset<br />
Translation Pensions investments revaluation<br />
reserve reserve reserve surplus O<strong>the</strong>r Total<br />
£m £m £m £m £m £m<br />
1 April 2005 1,521 (79) 339 − − 1,781<br />
Gains/(losses) arising in <strong>the</strong> year 1,486 (43) 710 112 − 2,265<br />
Transfer to <strong>the</strong> income statement on disposal 36 − − − − 36<br />
Tax effect − 13 (5) − − 8<br />
31 March 2006 3,043 (109) 1,044 112 − 4,090<br />
(Losses)/gains arising in <strong>the</strong> year (3,802) 65 2,108 − − (1,629)<br />
Transfer to <strong>the</strong> income statement on disposal 838 − − − − 838<br />
Tax effect 22 (15) − − − 7<br />
31 March 2007 101 (59) 3,152 112 − 3,306<br />
Gains/(losses) arising in <strong>the</strong> year 5,827 (47) 1,949 − 37 7,766<br />
Transfer to <strong>the</strong> income statement on disposal (7) − (570) − − (577)<br />
Tax effect 53 10 − − − 63<br />
31 March 2008 5,974 (96) 4,531 112 37 10,558<br />
23. Movements in retained losses<br />
2008 2007 2006<br />
£m £m £m<br />
1 April (85,253) (67,356) (39,511)<br />
Profit/(loss) for <strong>the</strong> financial year 6,660 (5,426) (21,916)<br />
Equity dividends (note 7) (3,653) (3,566) (2,753)<br />
Gain on expiration of equity put right − 142 −<br />
Loss on issue of treasury shares (60) (43) (123)<br />
B share capital redemption (7) (5,713) −<br />
B share preference dividend − (3,291) −<br />
Cancellation of shares − – (3,053)<br />
Grant of equity put right (1) 333 – −<br />
31 March (81,980) (85,253) (67,356)<br />
Note:<br />
(1) In <strong>the</strong> year ended 31 March 2008, a charge of £333 million, representing <strong>the</strong> fair value of put options granted by <strong>the</strong> Group over <strong>the</strong> Essar group’s interest in <strong>Vodafone</strong> Essar, has been recognised<br />
as an expense. The offsetting credit was recognised in retained losses, as no equivalent liability arose in respect of <strong>the</strong> fair value of <strong>the</strong> put options granted.<br />
<strong>Vodafone</strong> Group Plc Annual Report 2008 115
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