|
Called up share capital |
|
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£’000 |
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| Authorised | |
| 500,000 6.5% Cumulative First Preference Shares of £1 each |
500 |
| 1,250,000 10% Cumulative Second Preference Shares of £1 each |
1,250 |
| 3,000,000 6% Cumulative Second Preference Shares of 10p each |
300 |
| 4,000,000 Ordinary Share of 50p each |
2,000 |
|
4,050 |
|
| Allotted, called up and fully paid | |
| 389,000 6.5% Cumulative First Preference Shares of £1 each |
389 |
| 648,000 10% Cumulative Preference Share of £1 each |
648 |
| 2,000,000 6% Cumulative Second Preference Shares of 10p each |
200 |
| Total preference shares recognised as a financial liability (see note below) |
1,237 |
| 2,879,298 Ordinary Shares of 50p each |
1,439 |
|
2,676 |
|
|
The 6.5% Cumulative First Preference Shares and the 10% Cumulative Preference Shares have rights to a fixed dividend and, in the event of a winding-up, a preference to the ordinary shares for a capital repayment. The shares do not have voting rights unless the dividend is more than six months in arrears. The 6% Cumulative Second Preference Shares have identical rights to the other classes of preference shares except that they have full voting rights along with the Ordinary Shares. None of the preference shares have rights of conversion or rights to capital repayment. |
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