Deferred Share Plan
The following directors held conditional awards over ordinary shares of the Company granted under the British Airways Deferred Share Plan:
| Relates to bonus earned in respect of performance in | Date of award | Number of awards as at April 1, 2007 | Awards released during the year | Awards lapsing during the year | Awards made during the year | Number of awards as at March 31, 2008 | |
|---|---|---|---|---|---|---|---|
| Willie Walsh | 2005/06 | Nov 24, 2006 | 27,800 | 27,800 | |||
| Keith Williams | 2005/06 | Nov 24, 2006 | 16,991 | 16,991 |
The value of the deferred share awards outlined above was previously included in the Directors’ Remuneration table for the financial year to which the bonus relates.
Share scheme dilution limits
The Company follows the guidelines laid down by the Association of British Insurers (ABI). These restrict the issue of new shares under all the Company’s share schemes in any 10-year period to 10 per cent of the issued ordinary share capital and restricts the issues under the Company’s discretionary schemes to 5 per cent in any 10-year period. As at March 31, 2008, the headroom available for the all employee share schemes was 5.10 per cent and 0.15 per cent for the discretionary schemes.
The highest and lowest prices of the Company’s shares during 2007/08 and the share price at March 31, 2008 were:
| 2008 | 2007* | |
|---|---|---|
| At March 31 | 234.25 | 486.00 |
| Highest in the year | 519.00 | 577.50 |
| Lowest in the year | 218.00 | 320.00 |
* Closing price of the ordinary shares as at March 30, 2007.
Approved by the Board and signed on its behalf by
Dr Martin Read
Non-executive director and Chairman of the Remuneration Committee
May 15, 2008