Full Report - Fraser and Neave Limited
Full Report - Fraser and Neave Limited
Full Report - Fraser and Neave Limited
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NOTES TO THE FINANCIAL STATEMENTS<br />
for the year ended 30 September 2006<br />
11. EARNINGS PER SHARE (cont’d)<br />
(b) Diluted Earnings Per Share (cont’d)<br />
The weighted average number of ordinary shares is adjusted to assume exercise of all dilutive share options of<br />
the Company. The reconciliation of the weighted average number of ordinary shares used to compute diluted<br />
earnings per share is as follows:<br />
— No. of shares —<br />
Weighted average number of ordinary shares used to<br />
compute the basic earnings per share 1,169,795,825 1,163,188,954<br />
Effect of dilutive share options 7,315,510 6,599,275<br />
Weighted average number of ordinary shares used to<br />
compute diluted earnings per share 1,177,111,335 1,169,788,229<br />
Earnings Per Share (<strong>Full</strong>y diluted)<br />
– before exceptional items 25.0 cts 23.1 cts<br />
– after exceptional items 27.1 cts 25.2 cts<br />
10,968,000 (2005: nil) share options granted to employees under share option plans have not been included<br />
in the computation of diluted earnings per share because these options were anti-dilutive for the current<br />
financial year.<br />
(c) The calculation of earnings per share is based on a sub-divided share (shareholders have at the Extraordinary<br />
General Meeting of the Company held on 31 May 2006 approved the sub-division of 1 share into 5 shares).<br />
12. SHARE CAPITAL AND RESERVES<br />
THE GROUP & THE COMPANY<br />
2006 2005<br />
No. of shares ($’000) No. of shares ($’000)<br />
SHARE CAPITAL<br />
Ordinary shares issued <strong>and</strong> fully paid up<br />
Balance at beginning of year 233,359,335 233,359 232,007,722 232,008<br />
Issued during the year following exercise of<br />
Executives’ Share Options 3,598,030 8,865 1,351,613 1,351<br />
Subdivision of share 935,985,720 – – –<br />
Transfer of share premium <strong>and</strong> capital<br />
redemption reserve to share capital – 158,747 – –<br />
Balance at end of year 1,172,943,085 400,971 233,359,335 233,359<br />
The holders of ordinary shares are entitled to receive dividends as <strong>and</strong> when declared by the Company. All ordinary<br />
shares carry one vote per share without restriction.<br />
<strong>Fraser</strong> <strong>and</strong> <strong>Neave</strong>, <strong>Limited</strong> & Subsidiary Companies Annual <strong>Report</strong> 2006 119
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