Annual Report and Accounts 2008
32 Called-up share capital
| 2008 £m | 2007 £m | |
|---|---|---|
| At 31 December: | ||
| Authorised: | ||
| 200,000,000 (2007: 200,000,000) ordinary shares of 5p each | 10.0 | 10.0 |
| Issued called-up and fully paid: | ||
| 154,687,284 (2007: 154,627,671) ordinary shares of 5p each | 7.7 | 7.7 |
| Movement in ordinary shares during the year: | £m | Number of shares |
|---|---|---|
| At 1 January 2007 | 7.7 | 153,835,012 |
| Exercise of share options | – | 792,659 |
| At 1 January 2008 | 7.7 | 154,627,671 |
| Exercise of share options | – | 59,613 |
| At 31 December 2008 | 7.7 | 154,687,284 |
The total number of share options exercised in the year was 475,813 (2007: 1,008,457) of which 59,613 (2007: 792,659) exercises were satisfied by newly issued shares and 416,200 (2007: 215,798) exercises were satisfied by transferring shares from the National Express Employee Benefit Trust.