G4S Annual Report and Accounts 2011

Overview Strategic review Performance
Notes to the consolidated financial statements continued
37 Share capital
2011
2010
G4S plc
£
£
Issued and fully paid ordinary shares of 25p each 352,667,160 352,654,660
Nominal
Number value £m
Ordinary shares in issue
At 1 January 2010 1,410,518,639 353
Shares issued on exercise of options:
Executive Scheme 100,000 –
At 1 January 2011 1,410,618,639 353
Shares issued on exercise of options:
Executive Scheme 50,000 –
At 31 December 2011 1,410,668,639 353
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings
of the company.
No options over G4S plc shares remains outstanding at 31 December 2011.
The proceeds from shares allotted under this scheme during the year amounted to £45,500 (2010: £127,338).
6,265,571 shares are held by an employee benefit trust as detailed in note 38.
38 Reserves
Hedging reserve
The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow instruments related to the hedged
transactions that have not yet occurred (net of tax).
Translation reserve
The translation reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations, as well as
from the translation of liabilities that hedge the company’s net investment in foreign operations (net of tax).
Merger reserve
The merger reserve comprises reserves arising upon the merger between the former Group 4 Falck A/S and the former Group 4 Securitas BV in 2000 and
the acquisition of Securicor plc by the group in 2004.
Reserve for own shares
An employee benefit trust established by the group held 6,265,571 shares at 31 December 2011 (2010: 5,029,315 shares) to satisfy the vesting of awards
under the performance share plan and performance-related and synergy bonus schemes. During the year 4,626,711 shares were purchased by the trust,
whilst 3,390,455 shares were used to satisfy the vesting of awards under the schemes. At 31 December 2011, the cost of shares held by the trust was
£16,484,777 (2010: £12,125,010), whilst the market value of these shares was £17,029,822 (2010: £12,804,636). Shares held by the trust are treated as
treasury shares, are deducted from equity, do not receive dividends and are excluded from the calculations of earnings per share.
118
G4S plc
Annual Report and Accounts 2011