Return of Capital: UK Capital Gains Tax information
The market value of a New Share for UK tax purposes on the first day on which its price was quoted (17 December 2007) was 302.125 pence. The market value on the same date of a B Share for UK tax purposes is considered to be 22.3 pence. As the B Shares will not be traded on any Stock Exchange, its value was calculated by reference to its redemption value of 22.4 pence on the first redemption date of 14 January 2008, with a discount applied to take account of the minimum period prior to redemption. Accordingly, shareholders subject to UK taxation of capital gains may apportion the allowable expenditure in relation to their holdings of ordinary shares of 25p each prior to 17 December 2007 as follows:
Holdings of new ordinary shares of 28.125p each: 92.333%
Holdings of B Shares: 7.667%