Ordinary shares of 1p each
Allotted, called up and fully paid at start of year92792,746,99888087,971,163
New shares issued5431,758474,775,835
Allotted, called up and fully paid at end of year93293,178,75692792,746,998

The Companies Act 2006 abolishes the requirement for a company to have an authorised share capital. At the 2009 Annual General Meeting, the shareholders approved a resolution whereby all provisions relating to the Company's authorised share capital were removed from the Company's constitutional documents.

During the year, 431,758 new ordinary shares of 1p (2016: 377,235 new ordinary shares of 1p) were issued following the exercise of options under the Long Term Incentive Plan, and the Approved, Unapproved and SAYE Share Options Schemes. The consideration received was £931,342 (2016: £742,988). The holders of ordinary shares are entitled to receive dividends as declared or approved at General Meetings from time to time and are entitled to one vote per share at such meetings of the Company.