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Notes to the Company accounts
7. Share capital
| Allotted and issued | Called up and fully paid | |||
| number | £ | millions | £m | |
| At 1 April 2005 | 3,090,202,955 | 309,020,296 | 3,090 | 309 |
|---|---|---|---|---|
| Issued during the year | 8,016,297 | 898,906 | 8 | 1 |
| Effect of share consolidation (i) | (378,520,134) | - | (378) | - |
| At 31 March 2006 | 2,719,699,118 | 309,919,202 | 2,720 | 310 |
| Issued during the year | 3,748,135 | 427,113 | 4 | - |
| Repurchased during the year (ii) | (22,388,381) | (2,551,234) | (23) | (2) |
| At 31 March 2007 | 2,701,058,872 | 307,795,081 | 2,701 | 308 |
(i) On 29 July 2005, the ordinary share capital was consolidated, with 43 new ordinary shares of 11 17/43 pence each issued for every 49 existing ordinary shares of 10 pence each cancelled.
(ii) From 20 November 2006 to 22 March 2007, the Company repurchased, and subsequently cancelled, under its share buy-back programme 22,388,381 ordinary shares for aggregate consideration of £169m, including transaction costs. The shares repurchased have a nominal value of 11 17/43 pence each and represented 1% of the ordinary shares in issue as at 31 March 2007. The excess of the consideration over the nominal value has been recharged against retained earnings.
For further details on share capital, see note 31 in the consolidated financial statements.