REG - MJ Gleeson Plc - Half Yearly Report <Origin Href="QuoteRef">GLEG.L</Origin> - Part 2
25/02/2015 07:01
- Part 2: For the preceding part double click ID:nRSY7746Fa
Number of shares 31 December 31 December 30 June
2014 2013 2014
No. 000 No. 000 No. 000
Weighted average number of ordinary shares for the purposes of
basic earnings per share 53,577 52,821 52,941
Effect of dilutive potential ordinary shares:
Share options 350 805 915
Weighted average number of ordinary shares for the purposes of
diluted earnings per share 53,927 53,626 53,856
From continuing operations 31 December 31 December 30 June
2014 2013 2014
p p p
Basic 6.19 7.00 33.36
Diluted 6.15 6.90 32.79
From discontinued operations 31 December 31 December 30 June
2014 2013 2014
p p p
Basic (0.16) (0.27) (0.44)
Diluted (0.16) (0.27) (0.44)
From continuing and discontinued operations 31 December 31 December 30 June
2014 2013 2014
p p p
Basic 6.03 6.73 32.92
Diluted 6.00 6.63 32.36
31 December 31 December 30 June
2014 2013 2014
Normalised Earnings per share £000 £000 £000
From continuing and discontinued operations
Profit for the purposes of basic and diluted earnings per share 3,233 3,556 17,428
Excluding the impact of recognising unrecognised tax losses - - (8,326)
Normalised earnings 3,233 3,556 9,102
31 December 31 December 30 June
2014 2013 2014
p p p
Basic 6.03 6.73 17.19
Diluted 6.00 6.63 16.90
12. Related party transactions
Identity of related parties
The Group has a related party relationship with its joint ventures and key
management personnel.
Transactions between the Company and its subsidiaries, which are related
parties, have been eliminated on consolidation and are not disclosed in this
note.
Transactions with key management personnel
Transactions in the period between the Group and with key management personnel
were limited to those relating to remuneration as disclosed in the audited
accounts for the year to 30 June 2014. There has been no material change in
these arrangements since the year end.
Amounts owed by and owed to joint ventures are analysed below:
The amounts owed by joint ventures at 31 December 2014 totalled £35,000 (31
December 2013: £31,000, 30 June 2014 £31,000).
The amounts owed to joint ventures at 31 December 2014 totalled £Nil (31
December 2013: £Nil; 30 June 2014: £Nil).
13. Group pension scheme
The Group operates a defined contribution pension plan. The assets of the
pension plan are held separately from those of the Group in funds under the
control of the trustees. The total pension cost charged to the income
statement in the six months to 31 December 2014 of £257,000 (six months to 31
December 2013: £204,000; year to 30 June 2014: £451,000) represents
contributions payable to the defined contribution pension plan by the Group at
rates specified in the plan rules. At 31 December 2014, contributions of
£64,000 (31 December 2013: £50,000; 30 June 2014: £53,000) due in respect of
the current reporting period had not been paid over to the pension plan.
Since the period end, this amount has been paid.
14. Share capital
On 18 December 2014, the Company entered into a scheme of arrangement with the
shareholders of MJ Gleeson Group plc whereby the Company obtained 100% of the
share capital in MJ Gleeson Group plc in consideration of one share issued to
shareholders of MJ Gleeson Group Plc for every one share held in MJ Gleeson
Group plc.
Prior to the scheme of arrangement on 18 December 2014, the share capital of
the Group (MJ Gleeson Group plc) was:
Ordinary shares of 2p each - MJ Gleeson Group plc
2014
No. £000
As at 1 July 2014 53,154,084 1,063
Shares issued 543,397 11
As at 18 December 2014 53,697,481 1,074
As a result of the scheme of arrangement on 18 December 2014, the share
capital of MJ Gleeson plc was:
Ordinary shares of £1 each - MJ Gleeson plc
2014
No. £000
Issued on incorporation on 16 October 2014 2 -
Shares cancelled on 18 December 2014 (2) -
As at 18 December 2014 - -
At 31 December 2014 - -
Redeemable non-voting preference shares of £1 each - MJ Gleeson plc
2014
No. £000
Issued on incorporation on 16 October 2014 50,000 50
As at 18 December 2014 50,000 50
At 31 December 2014 50,000 50
Ordinary shares of £1.46 each - MJ Gleeson plc
2014
No. £000
At 16 October 2014 - -
Issued on 18 December 2014 53,697,480 78,398
As at 18 December 2014 53,697,480 78,398
At 31 December 2014 53,697,480 78,398
Ordinary shares of 2p - MJ Gleeson Group plc
The company has one class of Ordinary share which carries no rights to fixed
income.
Ordinary shares of £1 - MJ Gleeson plc
On 16 October 2014, the Company was incorporated with 2 Ordinary shares of £1
each. These were fully paid. On 18 December 2014, these shares were gifted
to a nominee of the Company and cancelled.
Redeemable non-voting preference shares of £1 each - MJ Gleeson plc
On 16 October 2014, the Company was incorporated with 50,000 redeemable,
non-voting preference shares of £1 each. These shares are unpaid.
Ordinary shares of £1.46 each - MJ Gleeson plc
On 18 December 2014, the Company entered into a Scheme of Arrangement with the
shareholders of MJ Gleeson Group plc whereby the Company obtained 100% of the
share capital in MJ Gleeson Group plc in consideration of one share issued to
shareholders of MJ Gleeson Group plc for every one share held in MJ Gleeson
Group plc.
15. Post balance sheet events
Following the year end, the Company has completed a share capital reduction,
reducing the nominal value of the 53,697,480 Ordinary shares of 146 pence to
shares of 2 pence. The Ordinary share capital has reduced from £78,398,000 to
£1,074,000 with a corresponding increase in retained earnings.
This information is provided by RNS
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