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.