Annual Report for the year ended 31 December 2008

14. inCome taX eXPense (CONTINuED)
The 2007 exceptional tax credit of £3,912,000 includes a prior period adjustment of £1,624,000 on the £5,413,000 consideration receivable from inG for the
net assets of W Deb Mvl plc and £2,288,000 which relates to the 30% tax credit estimated to arise on the £7,628,000 of exceptional operating expenses.
The 2007 adjustments in respect of prior years relates primarily to the write off of deferred tax assets on pension contributions made by the vendor of W Deb
Mvl plc prior to acquisition.
The 2008 adjustment in respect of prior years relates to the recognition of additional income tax losses claimed for the years ended 31 December 2004
to 31 December 2007.
DEFERRED TAX ON ITEMS CHARGED TO INCOME STATEMENT:
notes to tHe FinanCial statements CONTINuED
FOR THE YEAR ENDED 31 DECEMBER 2008
Restated
2008 2007
£'000 £'000
Deferred income tax expense/(credit) on stock options 659 (212)
Deferred income tax (credit) on capital allowances (114) (136)
Deferred income tax (credit) on trade losses (1,289) (251)
Deferred income tax (credit)/expense on trade losses – prior year adjustment (454) 845
Deferred income tax expense/(credit) on other temporary differences 7 (99)
Deferred income tax (credit) on intangibles (139) (78)
change of rate from 30% to 28% – 528
Total deferred income tax (credited)/charged to income statement (1,330) 597
Deferred tax amounted to £996,000 (2007: £991,000) relating to share option charges taken to reserves.
15. eaRninGs PeR oRdinaRY sHaRe
The calculation of the basic (loss)/earnings per ordinary share is based on the (loss)/profit for the period for continuing and discontinuing operations (excluding
minority interest) and on the weighted average number of ordinary shares in issue during the year. The calculation of the diluted (loss)/earnings per share is
based on the basic (loss)/earnings per share adjusted to allow for the issue of shares on the assumed conversion of all dilutive options.
CONTINuING OPERATIONS
Statutory Year ended 31 December 2008
Restated
Year ended 31 December 2007
Loss Weighted Loss Profit Weighted Earnings
£'000 average no. per share (p) £'000 average no. per share (p)
BASIC (10,385) 213,195,385 (4.87) 2,521 209,745,385 1.21
Dilutive effect of share awards – 34,680,832 – – 39,446,913 –
DILuTED (10,385) 247,876,217 (4.19) 2,521 249,192,298 1.01
DISCONTINuING OPERATIONS
Statutory Year ended 31 December 2008
Restated
Year ended 31 December 2007
Loss Weighted Loss Profit Weighted Earnings
£'000 average no. per share (p) £'000 average no. per share (p)
BASIC (2,459) 213,195,385 (1.15) 448 209,745,385 0.21
Dilutive effect of share awards – 34,680,832 – – 39,446,913 –
DILuTED (2,459) 247,876,217 (0.99) 448 249,192,298 0.18
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