A.G. BARR p.l.c. Annual Report and Accounts 2023Notes to the Accounts continued28. Share capital continuedShare repurchase programmeDuring the year ended 25 January 2020, the Group completed a share repurchase programme, purchasing 1,915,772 shares at a total cost of £30.0m. The permanent capitalhas been replaced through the creation of a Capital Redemption Reserve, which is included in “Other reserves” within equity in the table below.The cash flow hedge reserve is also included in “Other reserves” in equity and records the effective portion of movements in the fair value of forward foreign exchangecontracts that have been designated as part of a cash flow hedge relationship.Other reservesCash flowhedge reserve£mCapitalredemptionreserve£mAt 30 January 2022Derecognition of non-controlling interest on acquisition of MOMAMovement on cash flow hedge reserve(0.3)–0.20.2––At 29 January 2023(0.1)0.2Noncontrollinginterest£m(5.0)5.0––Total£m(5.1)5.00.20.1The share premium reserve contains the premium arising on the issue of equity shares, net of issue expenses.29. Share-based paymentsAs disclosed in the Directors’ Remuneration Report, the Group runs a number of share award plans and share option plans:• Savings Related Share Option Scheme which is open to all employees• LTIP and ESOS options which are granted to directors• AESOP awards that are available to all employeesShare-based payment costs and related deferred and current tax charges are recognised within the share option reserve.Savings Related Share Option Scheme (SAYE)All SAYEs outstanding at 29 January 2023 and 30 January 2022 have no performance criteria attached other than the requirement for the employee to remain in the employmentof the Company and to continue contributing to the plan. Options granted under the SAYE must be exercised within six months of the relevant award vesting date.The SAYE is open to all qualifying employees in employment at the date of inception of the scheme. Options are normally exercisable after three years from the date of grant.The price at which options are offered is not less than 80% of the average of the middle-market price of the five dealing days immediately preceding the date of invitation.194
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