Interests in own shares represents the cost of 7,519,506 (2001
4,050,000) of the Company’s Ordinary shares (nominal value
of £1,879,876 (2001 £1,012,500)) which amounts to 0.7%
(2001 0.4%) of the called up share capital. These shares have been
acquired by two trusts in the open market using funds provided by
the Company principally to meet obligations under the Performance
Share Plan, Long Term Incentive Plans and the US Stock Option Plan.
Both trusts have waived their entitlement to dividends. At 31 March
2002 the market value of the shares was £52.6m (2001 £20.0m).
The costs of administering the trusts are charged to the Group profit
and loss account.
The GUS plc ESOP Trust holds 1,782,442 (2001 1,450,000) Ordinary
shares to meet obligations under The GUS plc Performance Share Plan
and The GUS plc Executive Long Term Incentive Plans. These shares
may subsequently be transferred to certain directors and senior
executives and the purchase price of the shares is being charged
to the profit and loss account so as to spread the cost evenly over
the relevant performance period.
The GUS plc ESOP Trust No.2 holds 5,737,064 (2001 2,600,000) Ordinary
shares principally to meet obligations under the US Stock Option
Plan. These shares may be transferred to certain senior executives
employed in North America. The cost to the Company, being the difference
between the purchase price and the option price, is being charged
to the profit and loss account so as to spread the cost evenly over
the relevant performance period.
Details of share awards and options are given in Note
35.
d) The Group’s principal subsidiary undertakings
are listed in principal subsidiary
undertakings and joint venture.
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