Called up share capital

Authorised £'000
500,000 7% Cumulative First Preference Shares of £1 each 500
1,250,000 11% 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
170,372 7% Cumulative First Preference Shares of £1 each 171
441,336 11% Cumulative Preference Share of £1 each 441
2,000,000 6% Cumulative Second Preference Shares of 10p each 200
Total preference shares recognised as a financial liability (see note below) 812
2,879,298 Ordinary Shares of 50p each 1,439
2,251

The 7% Cumulative First Preference Shares and the 11% 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 6% Cumulative Second Preference Shares have identical rights to the other classes of preference shares except that they have limited voting rights along with the Ordinary Shares. None of the preference shares have rights of conversion or rights to capital repayment.