RWS AR 23 Final Single pages - Flipbook - Page 148
Notes to the Consolidated Financial Statements (continued)
21. SHARE CAPITAL AND RESERVES
2023
Number
2023
£m
2022
Number
2022
£m
500,000,000
5.0
500,000,000
5.0
389,463,810
3.9
389,396,173
3.9
16,709
-
67,637
-
(7,877,193)
(0.1)
-
-
381,603,326
3.8
389,463,810
3.9
Authorised
Ordinary shares of 1 pence each
Allotted, called up and fully paid
At beginning of year
Issue of shares
Purchase of own shares
At end of year
During the year, 16,709 ordinary shares of 1p each were allotted under the former SDL Save as You Earn schemes.
The Company announced on 8 June 2023, its intention to launch a share repurchase programme of up to £50m, which
will be completed ahead of the Company's Annual General Meeting on 22 February 2024. In FY23, 7,877,193 shares were
acquired on the open market and cancelled.
The nature and purpose of each reserve within equity is as follows:
148
•
•
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 e昀昀ective portion of the cash 昀氀ow 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 Holdings plc — Annual Report 2023 NOTES TO THE CONSOLIDATED STATEMENTS
