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  Pearson Annual Report 1997    

Notes to the Accounts

   
 

21. Share capital

 




  Number (000's) m
Authorised    
Ordinary shares of 25p each 838,000 209.5



At 31 December 1997 838,000 209.5



Called up and allotted    
Ordinary shares of 25p each fully paid 31 December 1996 571,001 142.8
Issued under share option and employee share schemes 4,098 1.0
Issued under scrip dividend scheme 1,673 0.4



At 31 December 1997 576,772 144.2



Note: The ordinary shares referred to above, as defined in the memorandum and articles of association of the Company, are equivalent to equity shares as defined by FRS 4. The consideration received in respect of shares issued during the year was 27.2m (1996: 84.5m). Options granted under certain of the Company's employee share option schemes were adjusted following the demerger of Royal Doulton plc. In the case of those 'Save As You Earn' and Executive share options which were not adjustable, compensation is to take the form of additional Pearson shares distributed from an employee share trust when the options are exercised. If all these options are exercised the maximum amount of equity shares to be issued is estimated at 50,328 under the ‘Save As You Earn' scheme and 46,508 under the Executive schemes.

 






  When
granted
Number
of shares
(000's)
Original
subscription
price (pence)
Exercise
period
Options outstanding at 31 December 1997        
'Save As You Earn' share option schemes 1990 116 265 1995-1998
  1991 200 299 1996-1999
  1992 1,111 242 1997-2000
  1994 742 509 1999-2002
  1995 958 436 2000-2003
  1996 847 578 2001-2004
  1997 728 593 2000-2005





    4,702    





Excecutive share option schemes 1988 31 342 1991-1998
  1989 180 341-376 1992-1999
  1990 450 307-334 1993-2000
  1991 94 364-377 1994-2001
  1992 445 327-379 1995-2002
  1993 133 396-410 1996-2003
  1994 1,200 629-635 1997-2004
  1995 1,418 545-606 1998-2005
  1996 1,626 654-682 1999-2006
  1997 3,049 744-757 2000-2007





    8,626    





Note: The subscription prices have been rounded down to the nearest whole penny.

1997 Annual Report
* Group summary
* Information
* Education
* Entertainment
* Investment banking
* Chairman's statement
* Chief Executive's review
* Financial Review
* Financial Policy
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Note of historical cost profits and losses
* Reconciliation of movements in equity shareholders' funds
* Principal subsidiaries and associates
* Five year summary
* Shareholder information
   
* Notes to the accounts
 

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