2009 Annual Report - CRH

29. Capital Grants
2009 2008
€m €m
At 1st January 14 11
Arising on acquisition (note 32) - 2
Received - 4
14 17
Released to Consolidated Income Statement (2) (3)
At 31st December 12 14
30. Share Capital and Reserves
Ordinary
Shares of
€0.32 each
2009 2008
Income
Shares of
€0.02 each
Ordinary
Shares of
€0.32 each
Income
Shares of
€0.02 each
Equity Share Capital (i) (ii) (i) (ii)
€m €m €m €m
Authorised
At 1st January 235 15 235 15
Increase in authorised share capital 85 5 - -
At 31st December 320 20 235 15
Number of Shares at 1st January ('000s) 735,000 735,000 735,000 735,000
Increase in number of Shares 265,000 265,000 - -
Number of Shares at 31st December ('000s) 1,000,000 1,000,000 735,000 735,000
Allotted, called-up and fully paid
At 1st January 175 11 175 11
Rights Issue (iii) 49 3 - -
Share options and share participation schemes (iv) - - - -
Shares issued in lieu of dividends (v) 3 - - -
At 31st December 227 14 175 11
The movement in the number of shares (expressed in '000s) during the financial year was as follows:
At 1st January 548,502 548,502 547,208 547,208
Rights Issue (iii) 152,088 152,088 - -
Share options and share participation schemes (iv) - - 401 401
Shares issued in lieu of dividends (v) 9,895 9,895 893 893
At 31st December 710,485 710,485 548,502 548,502
(i) Ordinary Shares
The Ordinary Shares represent 93.66% of the total issued share capital.
(ii) Income Shares
The Income Shares, which represent 5.85% of the total issued share capital, were created on 29th August 1988 for the express purpose of giving shareholders
the choice of receiving dividends on either their Ordinary Shares or on their Income Shares (by notice of election to the Company). The Income Shares carried a
different tax credit to the Ordinary Shares. The creation of the Income Shares was achieved by the allotment of fully paid Income Shares to each shareholder equal
to his/her holding of Ordinary Shares but the shareholder is not entitled to an Income Share certificate, as a certificate for Ordinary Shares is deemed to include
an equal number of Income Shares and a shareholder may only sell, transfer or transmit Income Shares with an equivalent number of Ordinary Shares. Income
Shares carry no voting rights. Due to changes in Irish tax legislation since the creation of the Income Shares, dividends on the Company’s shares no longer carry
a tax credit. As elections made by shareholders to receive dividends on their holding of Income Shares were no longer relevant, the Articles of Association were
amended on 8th May 2002 to cancel such elections.
(iii) Rights Issue
152,087,952 new Ordinary/Income Shares were issued in March 2009 at €8.40 per share under the terms of a Rights Issue on the basis of two new Ordinary/
Income Shares for every seven existing Ordinary/Income Shares (excluding Treasury Shares). The aggregate nominal value of the Shares issued was €52 million
and the total consideration amounted to €1.24 billion net of associated expenses.
CRH 109