Ardagh Glass Finance plc - Irish Stock Exchange

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
20. Analysis of changes in equity
Reserves
Share Capital Minority
Premium contribution Reserves interest Total
Balance at 1 January 2006 .................. — 100,650 2,622 2,141 105,414
Foreign currency translation adjustments ........ — — 1,457 — 1,457
Pension scheme actuarial gain ................ — — 16,781 — 16,781
Deferred taxation on actuarial gain ............ — — (4,952) — (4,952)
Cash flow hedges ......................... — — 1,055 — 1,055
Net expenses recognised directly in equity ....... — — 14,341 — 14,341
(Loss)/Profit for the year ................... — — (17,067) 332 (16,735)
Total recognised (expense)/income for 2006 ...... — — (2,726) 332 (2,394)
Purchase of minority interest ................ — — — (69) (69)
— — — (69) (69)
Balance as at 31 December 2006 .............. — 100,650 (104) 2,404 102,950
Balance at 1 January 2007 .................. — 100,650 (104) 2,404 102,950
Foreign currency translation adjustments ........ — — (3,898) — (3,898)
Pension scheme actuarial gain ................ — — 3,877 — 3,877
Deferred taxation on actuarial (loss) ........... — — (1,155) — (1,155)
Cash flow hedges ......................... — — (1,021) — (1,021)
Net income recognised directly in equity ........ — — (2,197) — (2,197)
Profit for the year ........................ — — 4,209 367 4,576
Total recognised (expense)/income for 2007 ...... — — 2,012 367 2,379
Dividend paid ........................... — — (168) (168)
Balance as at 31 December 2007 .............. — 100,650 1,908 2,603 105,161
The cumulative amount of translation adjustments in equity is A0.7 million as at 31 December 2007
(2006: A10.1 million)
21. Share based payments
On 1 October 2006 1,000,000 share options were granted under a new share option scheme.
Option Vesting periods Risk free rate of
Expected vesting dates exercisable (months) return Volatility Fair Value
E’000
01 October 2007 .................. 333,333 12 4.00% 25% 0.12
01 October 2008 .................. 333,333 24 4.00% 25% 0.18
01 October 2009 .................. 333,334 36 4.00% 25% 0.22
The option was exercisable in whole or in part at any time and from time to time up to and
including 30 September 2011.
The exercise price of the options awarded under the 2006 plan was fixed at A1.00.
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