Annual Report and Accounts 2006 - Optos

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Notes to the Company Financial Statements continued 13 SHARE CAPITAL 2006 2005 Authorised: No. (million) No. (million) Equity shares Ordinary shares of 2p 90 120 (2005: 1p each) 2006 2005 Allotted, Called Up and Fully Paid: $’000 $’000 Equity shares Ordinary shares of 1p each 2,361 1,665 Equity-settled, share-based payments Share options outstanding at the end of the year were 5,246,806 (2005: 11,061,635 prior to consolidation). Further details of equity-settled, share-based payments can be found in Note 20 to the Group financial statements. 2006 2005 No No Ordinary shares of 1p each At 1 October 92,126,193 91,954,282 Issue of shares prior to consolidation 350,000 _ Exercise of employee share options prior to consolidation 361,660 Consolidation of shares (46,418,927) _ Issued on IPO 12,000,000 _ Exercise of employee share options 489,631 34,791 Conversion of loan stock 6,683,984 544 Exercise of other options and warrants 568,297 _ Other share issues post-consolidation 17,500 136,576 At 30 September: ordinary shares of 2p each (2005: 1p each) 66,178,338 92,126,193 Share Share Share Share Capital Premium Capital Premium 2006 2006 2005 2005 Consideration Received on Issue of Shares $’000 $’000 $’000 $’000 Issued on IPO 415 51,744 – – Cost of issue of ordinary share capital – (5,605) – – Exercise of employee share options 20 765 – – Conversion of loan stocks 217 10,213 – – Exercise of other options and warrants 35 1,554 – – Other share issues 9 232 2 55 Consideration received 696 58,903 2 55 72 Optos plc Annual Report & Accounts 2006
Notes to the Company Financial Statements continued 14 OTHER EQUITY Profit and Share Loss Premium Equity Special Account Account Reserve Reserve $’000 $’000 $’000 $’000 At 1 October 2004 (35,006) 52,417 – 686 Reclasssification 686 – – (686) Issue of ordinary shares – 55 – – Share-based payments 670 – – – Loss for the year (4,695) – – – At 30 September 2005 (38,345) 52,472 – – Implementation of FRS 25/26 (1,305) – 2,744 – At 1 October 2005 (39,650) 52,472 2,744 – Conversion of loan 1,543 10,213 (2,744) – Issue of ordinary shares – 54,295 – – Cost of issue of ordinary shares – (5,605) – – Share-based payments 1,393 – – – Loss for the year (5,880) – – – At 30 September 2006 (42,594) 111,375 – – Under FRS20, the cost of employee share schemes, including SAYE schemes, is based on the fair value of the awards that must be assessed using an option pricing model and expensed on a straight-line basis over the vesting period. As a result, the cost of employee share schemes recognised in 2005 increased losses by $670,000. 15 Related party transactions During the year to 30 September 2006, purchases totalling $92,472 (2005: $391,000) at normal market prices were made by the Company from Crombie Anderson Limited, of which the D C Anderson is a Director and controlling shareholder, of which $Nil was outstanding at 30 September 2006 (2005: $19,000). The amounts outstanding are unsecured and will be settled in cash. No guarantees have been given or received. No provisions have been made for doubtful debts in respect of the amounts owed by related parties. 16 Pension commitments The Company operates a defined contribution pension scheme, the Optos Group Personal Pension Scheme, for its Directors and senior employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. There were no outstanding contributions at the year end (2005: $nil). 17 Financial risk management objectives and policies A description of the Group’s financial risk management objectives and policies is provided in Note 22 to the Group’s financial statements. These financial risk management objectives and policies also apply to the Company. Optos plc Annual Report & Accounts 2006 73
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Revolutionising eye care helping sa
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Highlights Year ended Year ended
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2004 > Germany - commercial launch
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3.4m optomap® Retinal Exams in 200
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Image of a healthy eye taken by the
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Annual Report and Accounts 2006 - Optos

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