capitalisation issue

Following a share buy-in, a capitalisation issue may trigger a distribution for tax purposes under s210.

'If such plans develop, we will need to look at the company's existing share structure and a 1-for-1 capitalisation issue would seem appropriate.'

Earnings and dividends per share have been restated to reflect the bonus element in the 1989 rights issue and the capitalisation issue in 1990 but not shares issued in connection with the acquisition of Ultramar.