REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

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Notes on the consolidated balance sheet continued27. Share capitalPROFORMA1999 1998 1997£M £M £MAuthorisedOne Founders Share of £1 – – –49,998 redeemable preference shares of £1 – – –2,100 million ordinary shares of 25p each 525 525 525525 525 525Allotted and called-upOne Founders Share of £1 – – –Ordinary shares of 25p each 355 354 408355 354 408Number of ordinary shares of 25p each (millions) 1,422.7 1,421.6 1,635.4Shares allotted/(repurchased) during the year in millions 1999 1998 1997Capital reorganisation – (218.1) –Shares in Reuters Group PLC issued for cash under employee share schemes at prices rangingfrom 150p to 667p per share 5.8 4.3 –Shares repurchased for cash at 530p per share (4.7) – –1.1 (213.8) –The rights attaching to the Founders Share are set out on page 78.Proforma ordinary shares allotted and called-up at 31 December 1997 represents the nominal value of shares in issue of Reuters Group PLC immediately prior tothe capital reorganisation on 18 February 1998. Consequently there are no share movements shown for 1997.28. Repurchase of own sharesDuring 1999 Reuters carried out an on-market share repurchase programme to acquire, and subsequently cancel, 4.7 million of its ordinary shares at 530p pershare. The total cost of the repurchase programme including expenses was £25 million, which has been charged against distributable reserves.66 Reuters Group PLC Annual Report 1999
29. Employee share option plansReuters operates share plans for the benefit of employees as explained in the report on remuneration. Since the flotation of Reuters Holdings PLC in 1984, Reutershas issued 95 million shares under these plans.Share option activity for the two years ended 31 December 1999 was as follows:WEIGHTEDAVERAGEEXERCISESAVE AS YOU EXECUTIVE PLAN PRICEEARN PLANS PLANS 2000 TOTAL £Ordinary shares under option in millions (including ADSs):31 December 1997 17.2 3.4 – 20.6 4.05Granted 5.1 – 25.7 30.8 5.43Exercised (3.0) (1.7) – (4.7) 2.88Expired, cancelled or lapsed (2.2) (0.1) – (2.3) 4.7031 December 1998 17.1 1.6 25.7 44.4 5.10Granted 2.6 – 2.4 5.0 7.58Exercised (4.2) (0.7) (0.9) (5.8) 4.37Expired, cancelled or lapsed (0.9) (0.1) (1.2) (2.2) 5.2631 December 1999 14.6 0.8 26.0 41.4 5.51Number of participants at 31 December 1999 8,037 64 13,021The following table summarises information relating to the number of shares under option and those which were exercisable at 31 December 1999.WEIGHTEDAVERAGE SHARES EXERCISABLEPERIOD WEIGHTED AT WEIGHTEDTOTAL SHARES REMAINING TO AVERAGE 31 DECEMBER AVERAGERange of exercise pricesUNDER OPTION FULL VESTING EXERCISE 1999 EXERCISE(MILLIONS) (MONTHS) PRICE (MILLIONS) PRICEOrdinary shares£1.00–£3.00 0.1 – £2.54 0.1 £2.54£3.01–£5.00 6.7 15 £4.18 0.5 £4.32£5.01–£7.00 30.1 21 £5.54 – –£7.01–£9.00 2.4 20 £8.14 – –ADSs$20.01–$40.00 0.1 – $29.38 0.1 $29.38$40.01–$65.00 1.5 25 $56.88 0.1 $43.72$65.01–$90.00 0.5 41 $82.06 – –41.4 0.8In August 1990 and January 1994, Reuters established employee share ownership trusts with the power to acquire shares in the open market. The trustee of bothtrusts, an off-shore subsidiary of Reuters, is being managed under contract by an independent management company. Shares purchased by the trusts will be usedeither to meet obligations under the company’s restricted share plans described in the report on remuneration on pages 24–30 or to satisfy the exercise of optionsgranted, or to be granted, under other employee share option plans. Alternatively, new shares may be issued to satisfy these option obligations.Reuters Group PLC Annual Report 1999 67
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REUTERS GROUP PLC ANNUAL REPORT AND
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2 Financial highlights3 Five year s
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From the Chairman.Theus now is Inte
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Reuters, wherChief Executive Peter
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Peter Job talks about theprojection
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TO FIND OUT MORE VISITwww.reuters.c
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Page 73 and 74: Balance sheet of Reuters Group PLC
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REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

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