| Reuters operates share plans for the benefit of employees as explained in the report on remuneration. Since the flotation of Reuters Holdings PLC in 1984, Reuters has issued 89 million shares under these plans. |
| Share option activity for the two years ended 31 December 1998 was as follows: |
| |
 | | Click icon for this table in Excel format |
| Save as you earn plans | Executive plans | Plan 2000 | Total | Weighted average exercise price £ |
|
| Ordinary shares under option in millions (including ADSs): |
| 31 December 1996 | 21.7 | 6.4 | – | 28.1 | 3.52 |
| Granted | 4.8 | – | – | 4.8 | 5.01 |
| Exercised | (5.9) | (2.7) | – | (8.6) | 2.57 |
| Expired, cancelled or lapsed | (3.4) | (0.3) | – | (3.7) | 4.86 |
|
| 31 December 1997 | 17.2 | 3.4 | – | 20.6 | 4.05 |
| Granted | 5.1 | – | 25.7 | 30.8 | 5.43 |
| Exercised | (3.0) | (1.7) | – | (4.7) | 2.88 |
| Expired, cancelled or lapsed | (2.2) | (0.1) | – | (2.3) | 4.70 |
|
| 31 December 1998 | 17.1 | 1.6 | 25.7 | 44.4 | 5.10 |
|
| Number of participants at 31 December 1998 | 8,285 | 125 | 12,869 |
|
| |
| The following table summarises information relating to the number of shares under option and those which were exercisable at 31 December 1998. |
| Range of exercise prices | Total shares
under option
(millions) | Weighted
average
period
remaining to
full vesting
(months) | Weighted
average
exercise
price | Shares
exercisable at
31 December
1998
(millions) | Weighted
average
exercise
price |
|
| Ordinary shares |
| £1.00 – £3.00 | 0.2 | – | £2.54 | 0.2 | £2.54 |
| £3.01 – £5.00 | 10.7 | 18 | £4.13 | 1.0 | £4.32 |
| £5.01 – £7.00 | 30.9 | 32 | £5.46 | – | – |
| ADSs |
| $20.01 – $40.00 | 0.2 | – | $29.55 | 0.2 | $29.55 |
| $40.01 – $60.00 | 2.4 | 24 | $51.85 | 0.2 | $43.72 |
|
| 44.4 | | | 1.6 |
|
| In August 1990 and January 1994, Reuters established employee share ownership trusts with the power to acquire shares in the open market. The trustee of both trusts, an off-shore subsidiary of Reuters, is being managed under contract by an independent management company. Shares purchased by the trusts will be used to meet obligations under the company’s restricted share plans described in the report on remuneration. Shares may also be used to satisfy the exercise of options granted, or to be granted, under the employee share option plans. Alternatively, new shares may be issued to satisfy these option obligations. |
