Issued, allotted and fully paid ordinary shares of 5.0p each:
Number of shares | Par value £’000 | Share premium | Total £’000 | |
|---|---|---|---|---|
At 1 January 2024 and 1 January 2025 | 48,846,234 | 2,442 | 44,178 | 46,620 |
Share issue to Employee Benefit Trust | 400,000 | 20 | – | 20 |
At 31 December 2025 | 49,246,234 | 2,462 | 44,178 | 46,640 |
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled, on a poll, to one vote per share at meetings of the Company.
Nature and purpose of other reserves
Capital redemption reserve
On the buy-back and cancellation of preference shares, an amount equal to the par value was transferred from retained earnings to the capital redemption reserve for capital maintenance purposes.
Translation reserve
Exchange differences arising on translation of the foreign controlled entities are recognised in other comprehensive income and accumulated in a separate reserve within equity. The cumulative amount is reclassified to the income statement when the net investment is disposed of.
Hedging reserve
The hedging reserve includes the cash flow hedge reserve and the costs of the hedging reserve. The cash flow hedge reserve is used to recognise the effective portion of gains or losses on derivatives that are designated and qualify as cash flow hedges. Amounts are subsequently reclassified to the income statement as appropriate.