2009 Annual Report - CRH

30. Share Capital and Reserves continued
(iv) Share schemes
Share option schemes
Details of share options granted under the Company’s share option schemes and savings-related share option schemes and the terms attaching thereto are
provided in note 7 to the financial statements. Under these schemes, options over a total of 3,680,876 Ordinary Shares were exercised during the financial year
(2008: 2,046,216). Of this total, 3,553,043 (2008: 1,944,501) were satisfied by the re-issue of Treasury Shares and 127,833 (2008: 82,335) by the purchase of
Ordinary Shares on the market by the Employee Benefit Trust. No new shares were issued in 2009 to satisfy share options exercised during the financial year
(2008: 19,380).
Share participation schemes
At 31st December 2009, 6,778,469 (2008: 6,466,707) Ordinary Shares had been appropriated to participation schemes. In the financial year ended 31st
December 2009, the appropriation of 311,762 shares was satisfied by the re-issue of Treasury Shares (2008: 55,849). The Ordinary Shares appropriated pursuant
to these schemes were issued at market value on the dates of appropriation. The shares issued pursuant to these schemes are excluded from the scope of IFRS
2 Share-based Payment and are hence not factored into the expense computation and the associated disclosures in note 7.
During the ten-year period commencing on 3rd May 2000, the total number of Ordinary Shares which may be issued in respect of the share option schemes, the
savings-related share option schemes, the share participation schemes and any subsequent share option schemes, may not exceed 15% in aggregate of the
issued Ordinary share capital from time to time.
(v) Shares issued in lieu of dividends
In May 2009, 6,588,110 (2008: 893,242) Ordinary Shares were issued to the holders of Ordinary Shares who elected to receive additional Ordinary Shares at a
price of €13.83 (2008: €24.15) per share, instead of part or all of the cash element of their 2008 and 2007 final dividends. In November 2009, 3,307,480 (2008:
nil) Ordinary Shares were issued to the holders of Ordinary Shares who elected to receive additional Ordinary Shares at a price of €17.20 per share, instead of
part or all of the cash element of their 2009 interim dividend. The 2008 interim dividend was paid wholly in cash.
110 CRH
5%
Cumulative
Preference
Shares of
€1.27 each
7% ‘A’
Cumulative
Preference
Shares of
€1.27 each
Preference Share Capital (vi) (vii)
€m €m
Authorised
At 1st January 2009 and 31st December 2009 - 1
Number of Shares at 1st January 2009 and 31st December 2009 ('000s) 150 872
Allotted, called-up and fully paid
At 1st January 2009 and 31st December 2009 - 1
Number of Shares at 1st January 2009 and 31st December 2009 ('000s) 50 872
There was no movement in the number of cumulative preference shares in either the current or the prior year.
(vi) 5% Cumulative Preference Shares
The holders of the 5% Cumulative Preference Shares are entitled to a fixed cumulative preference dividend at a rate of 5% per annum and priority in a winding-up
to repayment of capital, but have no further right to participate in profits or assets and are not entitled to be present or vote at general meetings unless their
dividend is in arrears. Dividends on the 5% Cumulative Preference Shares are payable half-yearly on 15th April and 15th October in each year. The 5% Cumulative
Preference Shares represent 0.03% of the total issued share capital.
(vii) 7% ‘A’ Cumulative Preference Shares
The holders of the 7% ‘A’ Cumulative Preference Shares are entitled to a fixed cumulative preference dividend at a rate of 7% per annum, and subject to the rights
of the holders of the 5% Cumulative Preference Shares, priority in a winding-up to repayment of capital but have no further right to participate in profits or assets
and are not entitled to be present or vote at general meetings unless their dividend is in arrears or unless the business of the meeting includes certain matters,
which are specified in the Articles of Association. Dividends on the 7% ‘A’ Cumulative Preference Shares are payable half-yearly on 5th April and 5th October in
each year. The 7% ‘A’ Cumulative Preference Shares represent 0.46% of the total issued share capital.