Annual Report for the year ended 31 December 2008

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32. sHaRe CaPital notes to tHe FinanCial statements CONTINuED FOR THE YEAR ENDED 31 DECEMBER 2008 70 The evoluTion Group plc AnnuAl reporT & AccounTs 2008 2008 2007 £'000 £'000 AuTHORISED: 400,000,000 ordinary shares of 1p each 4,000 4,000 ALLOTTED, ISSuED AND FuLLY PAID: 224,477,637 (2007: 223,218,843) ordinary shares of 1p each 2,245 2,232 The following table summarises the movements of allotted, issued and fully paid share capital: 2008 2007 COMPANY £'000 £'000 ALLOTTED, ISSuED AND FuLLY PAID: At 1 January 223,218,843 (2007: 221,381,671) ordinary shares of 1p each 2,232 2,214 ISSuES 546,550 (2007: 1,667,301) ordinary shares on exercise of options 6 16 243,550 (2007: 169,871) ordinary shares on issue of matching shares from share incentive plan 2 2 468,694 (2007: nil) ordinary shares on issue of share incentive plan bonus 5 – AT 31 DECEMBER 224,477,637 (2007: 223,218,843) ordinary shares of 1p each 2,245 2,232 The aggregate consideration received on the issue of shares during the year was £980,000 (2007: £368,000). Terms of share capital The holder of each ordinary share is entitled to one vote on a poll. The holders also have the right to receive dividends and the right to participate on a return of capital. Potential issues of ordinary shares As at 31 December 2008, there are 52,568,372 (2007: 53,667,197) options outstanding under all Group schemes as detailed in note 38. of these 8,147,985 (2007: 9,536,398) have already vested. The number and market value of the Group’s holding in its own shares, held by the evolution Group plc employees’ share Trust, are disclosed below: 2008 2007 Number Number of shares of shares shares held in trust not yet conditionally allocated 9,547,183 14,000,058 nominal value of 1p ordinary shares £95,472 £140,000 Market value at £0.86 per share (2007: £1.23) £8,210,577 £17,220,071 The market value represents the market price for an ordinary 1p share at 31 December 2008.
33. CasH FloW FRom oPeRatinG aCtiVities reconciliation of operating profit from continuing operations to net cash generated from operating activities: notes to tHe FinanCial statements CONTINuED FOR THE YEAR ENDED 31 DECEMBER 2008 Restated 2008 2007 £'000 £'000 CASH GENERATED FROM OPERATING ACTIVITIES – CONTINuING OPERATIONS operating (loss)/profit from continuing operations (17,277) 398 ADJuSTMENTS FOR: Depreciation of property, plant and equipment 1,621 1,613 Amortisation of intangibles 1,378 835 (profit) on sale of available-for-sale financial assets – (299) share options charge 11,722 11,289 Foreign exchange (gain)/loss (207) 166 cost of matching shares issued under share incentive plan 760 217 operating loss on associates – (29) CHANGES IN wORkING CAPITAL: (increase)/decrease in trade and other receivables (2,118) 12,888 Decrease/(increase) in trade and other payables 10,733 (2,322) (increase)/decrease in net market counterparties (3,878) 19,320 Decrease in derivatives 267 285 Decrease/(increase) in provisions for liabilities and charges 244 (5) Decrease in net trading portfolio positions 10,264 1,114 CASH GENERATED FROM OPERATING ACTIVITIES – CONTINuING OPERATIONS 13,509 45,470 34. CaPital Commitments and ContinGenCies in the ordinary course of business the Group has given letters of indemnity to clients in respect of lost share certificates. Although the contingent liability arising from these cannot be precisely quantified, it is not believed to be material. 35. lease Commitments The Group has non-cancellable operating lease commitments in respect of land and buildings of £2,477,000 (2007: £1,833,000). The future aggregate minimum lease payments to which these amounts relate expire as follows: 2008 2007 LAND AND BuILDINGS £'000 £'000 Within one year 2,447 1,833 Within two to five years 2,839 2,857 After five years – 20 5,286 4,710 71
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Yesterday Today Tomorrow... ANNUAL
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FINANCIAL ANd OPERATIONAL HIGHLIGHT
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Balance Sheet strength and cash bal
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evolution securities Evolution secu
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Corporate Finance Evolution securit
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Wdb capital The Group’s investmen
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EARNINGS PER SHARE ON TOTAL OPERATI
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evolution securities’ income anal
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other activities The Group’s othe
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Lord macLaurin of Knebworth, dL (72
Page 21 and 22: principal risks and uncertainties T
Page 23 and 24: share capital Details of the change
Page 25 and 26: The Directors consider that in prep
Page 27 and 28: The Chief Executive, Alex snow, is
Page 29 and 30: The Committee observed that during
Page 31 and 32: appropriate and comprehensive proce
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Page 35 and 36: The concept of a bonus ceiling does
Page 37 and 38: non-executive directors Non-executi
Page 39 and 40: On 8 April 2009, Alex snow was awar
Page 41 and 42: We have audited the Consolidated Fi
Page 43 and 44: ASSETS 2008 2007 Note £’000 £
Page 45 and 46: 2008 2007 £’000 £’000 (loss)/
Page 47 and 48: shareholding of more than one half
Page 49 and 50: ) Distribution channels and custome
Page 51 and 52: (b) Share-based plans The Group’s
Page 53 and 54: Risk Reporting The Group Board rece
Page 55 and 56: Neither past Past due but not impai
Page 57 and 58: By business segment (continued) The
Page 59 and 60: 6. otHeR inCome Restated 2008 2007
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Page 63 and 64: 14. inCome taX eXPense (CONTINuED)
Page 65 and 66: 18. intanGiBle assets notes to tHe
Page 67 and 68: 20. deFeRRed inCome taX (CONTINuED)
Page 69 and 70: 24. tRadinG PoRtFolio assets notes
Page 71: 31. Consolidated moVement in sHaReH
Page 75 and 76: 38. emPloYee sHaRe sCHemes Movement
Page 77 and 78: 38. emPloYee sHaRe sCHemes (CONTINu
Page 79 and 80: THE EVOLuTION GROuP PLC PARENT COMP
Page 81 and 82: ASSETS ComPanY BalanCe sHeet AS AT
Page 83 and 84: statement oF ReCoGnised inCome and
Page 85 and 86: 1. aCCoUntinG PoliCies (CONTINuED)
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Page 89 and 90: 2. FinanCial instRUments and RisK m
Page 91 and 92: 5. inVestment in sUBsidiaRies notes
Page 93 and 94: 10. CasH and CasH eQUiValents 2008
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Annual Report for the year ended 31 December 2008

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