During the year to 31 March 2016, the Company restructured its share capital by:
(i) issuing two bonus shares for every five Ordinary shares of £1 each already held through the appkication of the share premium account; and
(ii) re-denominating the shares from Ordinary Shares of £1 each to A Ordinary Shares of 40 pence each
The effect of this restructuring was to increase the number of shares in issue from 31,181 Ordinary Shares of £1 each to 109,144 A Ordinary Shares of 40 pence each.
Share Options
During the year ended 31 March 2014, the company granted options over new Ordinary Shares as part of an employee incentive scheme. The options, which expire on 1 April 2017, entitle the holder to subscribe for new Ordinary Shares at par. At 31 March 2016, the maximum number of shares that can be issued under this grant is 5,313 shares.
During the year ended 31 March 2014, the company granted options over new Ordinary Shares to providers of loan finance. The options entitle the holder to subscribe for new A Ordinary Shares at a price of £10 each. At 31 March 2016, the maximum number of shares that can be issued under this grant is 585 shares.