 | 24 Share capital | | Non-equity
special
share of £1 | | Equity
ordinary shares
of 20p each | | Nominal
value
£m |  | | Authorised | | | | | | | At January 1 and December 31, 2000 | 1 | | 2,000,000,000 | | 400 | | | Issued and fully paid | | | | | | | At January 1, 2000 | 1 | | 1,545,024,330 | | 309 | | Exercise of share options | — | | 6,620,836 | | 1 | | In lieu of paying dividends in cash | — | | 17,612,912 | | 4 | | | At December 31, 2000 | 1 | | 1,569,258,078 | | 314 | | Certain special rights, set out in the Company's Articles of Association, attach to the special rights redeemable preference share (special share) issued to HM Government. Subject to the provisions of the Companies Act 1985, the special share may be redeemed by the Treasury Solicitor at par at any time.
The special share confers no rights to dividends or to vote at general meetings but in the event of a winding-up it shall be repaid at its nominal value in priority to any other shares.
At December 31, 2000, the following ordinary shares were subject to options: | | | Date of
grant | | Number | | Exercise price | | Exercisable
dates | | | Executive share option scheme | | 1991 | | 120,407 | | 139p | | 2001 | | | | 1992 | | 302,364 | | 125p | | 2001-2002 | | | | 1995 | | 1,761,250 | | 176p | | 2001-2005 | | | | 1996 | | 113,400 | | 238p | | 2001-2006 | | | Executive share option plan | | 1999 | | 1,542,669 | | 269p | | 2002-2009 | | | | 1999 | | 254,896 | | 216p | | 2002-2009 | | | | 2000 | | 2,393,399 | | 194p | | 2003-2010 | | | | 2000 | | 7,988,316 | | 194p | | 2003-2010 | | | | 2000 | | 36,808 | | 163p | | 2003-2010 | | | | 2000 | | 410,664 | | 163p | | 2003-2010 | | | | 2000 | | 29,326 | | 170p | | 2003-2010 | | | | 2000 | | 85,045 | | 170p | | 2003-2010 | | | Sharesave schemes | | 1995 | | 13,862,662 | | 150p | | 2001/2003 | | | | *1995 | | 40,895 | | 155p | | 2001 | | | | *1996 | | 94,895 | | 168p | | 2001/2002 | | | | 1997 | | 15,769,359 | | 205p | | 2001/2003/2005 | | | | *1997 | | 123,095 | | 154p | | 2002 | | | | *1998 | | 893,767 | | 107p | | 2002/2004 | | | | 1999 | | 23,340,725 | | 194p | | 2002/2003/2005/2007 | | Under the terms of the executive share option scheme and the executive share option plan, options granted to 363 directors and senior executives were outstanding at December 31, 2000. Under the terms of the sharesave schemes, the Board may grant options to purchase ordinary shares in the Company each year to those employees who enter into an Inland Revenue approved Save As You Earn (SAYE) contract for a period of either three, five or seven years. Employees in 24 countries participate in sharesave schemes through arrangements broadly comparable to the UK scheme. In the USA a ‘423' plan which has a two-year savings period was offered. *Relates to options granted under the Vickers plc sharesave schemes which, following acquisition of Vickers plc, were exchanged in accordance with Inland Revenue Rules for options over Rolls-Royce plc ordinary shares. |
