RWS Annual Report 2022 web - Flipbook - Page 144
Notes to the Consolidated Financial Statements (continued)
21. SHARE CAPITAL AND RESERVES
2022
Number
2022
£m
2021
Number
2021
£m
500,000,000
5.0
500,000,000
5.0
Authorised
Ordinary shares of 1 pence each
Allotted, called up and fully paid
At beginning of year
389,396,173
3.9
275,188,492
2.8
Issue of shares
67,637
-
114,207,681
1.1
At end of year
389,463,810
3.9
389,396,173
3.9
During the year, 67,637 ordinary shares of 1p each were allotted under the RWS 2013 share option plan and RWS Save
As You Earn schemes and former SDL Save as You Earn schemes.
The nature and purpose of each reserve within equity is as follows:
144
•
•
Share premium account represents the premium arising on the issue of equity shares.
•
Foreign currency reserve is the cumulative gain or loss arising on retranslating the net assets of overseas operations
into Sterling, except where the Group applies a net investment hedge.
•
Hedge reserve is the fair value movement on the derivative contracts for the effective portion of the cash flow hedge
and the gains and losses relating to the net investment hedge.
•
Merger reserve represents the amounts of share premium that would have been recognised on a share for share
exchange eligible for merger relief under the Companies Act 2006. This was created on the acquisition of SDL plc in
2021.
•
Reverse acquisition reserve was created when RWS Holdings plc became the legal parent of Bybrook Limited. The
substance of this combination was that Bybrook Limited acquired RWS Holdings plc.
•
Retained earnings are the cumulative net gains and losses, including the capital reserve from the Parent Company
balance sheet.
Share-based payment reserve is the credit arising on the share-based payment charges in relation to the Group’s
share option schemes.
RWS — Annual Report 2022
NOTES TO THE CONSOLIDATED STATEMENTS
