- Independent auditors' report
- Consolidated income statement
- Consolidated statement of recognised income and expense
- Consolidated balance sheet
- Consolidated cash flow statement
- Company balance sheet
- Company statement of recognised income and expense and cash flow statement
- Notes to the financial statements
Notes to the financial statements
27.Own shares (Company and Group)
| 2008 €'000 |
2007 €'000 |
||
|---|---|---|---|
| At the beginning of the year | (409) | (388) | |
| Discount on options | 175 | 74 | |
| Shares purchased | (1,665) | (95) | |
| At the end of the year | (1,899) | (409) |
The amount included above as own shares relates to 570,054 (2007: 238,544) ordinary shares in Glanbia plc held by an Employee Share Trust which was established in May 2002 to operate in connection with the Company's Saving Related Share Option Scheme ('Sharesave Scheme'). The trustee of the Employee Share Trust is Halifax EES Trustees International Limited; a Jersey based trustee services company.
The shares included in the Employee Trust at 3 January 2009 cost €1,898,652 and had a market value of €1,180,012 at 3 January 2009. The transfer from capital reserve represents the excess of the purchase price over the weighted average price in respect of 50,000 ordinary shares (2007: 50,000 ordinary shares) on which options vested during the year.
Shares purchased under the 2007 LTIP scheme and the 2008 LTIP scheme are deemed to be own shares in accordance with IAS 32 - Financial Instruments: Disclosure and Presentation.