<< < > >>
Search:
| Full PDF report | Print this page |
Annual Report & Accounts 2013 - NOTES
slide
<< < > >>
19.2 Reserves Share Share Merger Translation Retained Capital Premium Reserve Reserve Earnings Total €000's €000's €000's €000's €000's €000's At 1 January 2013 316 611 40,407 - 17,137 58,471 Result for the year - - - 359 12,303 12,662 Dividends paid - - - - (14,979) (14,979) Issue of share capital for Sportingbet acquisition 290 83,628 - - - 83,918 Share option charge - - - - 736 736 Lapsed share options - - - - (6) (6) Share options exercised 3 291 - - - 294 At 31 December 2013 609 84,530 40,407 359 15,191 141,096 The 'Merger reserve' arose on the re-domiciliation of the Group from Luxembourg to The Isle of Man. It consists of the preredomiciliation reserves of the Luxembourg company plus the difference in the issued share capital (31,135,762 share at €0.01 versus 31,135,762 shares at €1.24). The Group's capital management objectives are to ensure its ability to continue as a going concern and to provide an adequate return to shareholders and benefits to other stakeholders by pricing services commensurately with the level of risk, and maintaining an optimal capital structure to reduce the cost of capital. The Group desires to pay not less than 75% of its net operating cashflows to shareholders by way of dividends. In order to maintain or adjust the capital structure, the Company may issue new shares, return capital to shareholders, limit the amount of dividends paid, or sell assets. Total equity employed at 31 December 2013 was €141.1 million (2012: €58.5 million). 20. DIVIDENDS The dividend history from 2007 together with the dividend proposed by the Directors and paid after the balance sheet date, but up to the date on which these financial statements were approved are shown below: Shares Date declared Per share €c Per share £p in issue Amount € Amount £ 01-May-07 19.30 13.0000 31,135,762 6,009,202 4,047,649 01-Oct-07 20.00 13.9000 31,135,762 6,227,152 4,327,871 -------- 39.3 01-May-08 20.00 15.9000 31,135,762 6,227,152 4,950,586 01-Oct-08 20.00 15.8300 31,135,762 6,227,152 4,928,791 -------- 40.0 01-May-09 20.00 17.7700 31,135,762 6,227,152 5,532,825 01-Oct-09 20.00 18.2600 31,135,762 6,227,152 5,685,390 -------- 40.0 01-Jun-10 50.00 41.9600 31,135,762 15,567,881 13,064,566 28-Sep-10 10.00 8.7700 31,135,762 3,113,576 2,730,606 -------- 60.0 28-Mar-11 10.00 8.8400 31,469,095 3,146,910 2,781,868 29-Sep-11 10.00 8.6600 31,469,095 3,146,910 2,725,224 -------- 20.0 25-May-12 11.00 8.7835 31,592,172 3,475,139 2,774,898 19-Sep-12 15.00 12.0900 31,592,172 4,738,826 3,819,494 -------- 26.0 25-Jan-13 7.00 5.8950 31,592,172 2,211,452 1,862,359 01-Jul-13 10.50 9.0658 60,748,427 6,378,585 5,507,331 25-Sep-13 10.50 8.8161 60,848,427 6,389,085 5,364,458 -------- 28.0 09-Jan-14 11.50 9.5833 60,906,760 7,004,277 5,836,878 264.80 217.1237 92,317,603 75,940,794 GVC HOLDINGS PLC ANNUAL REPORT 2013 53 NOTES TO THE FINANCIAL STATEMENTS