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5 Movements in capital and reserves
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| Share capital £m |
Share premium £m |
Merger reserve £m |
Capital redemption reserves £m |
Other reserve1 £m |
Own shares reserve 2 £m |
Profit and loss account £m |
Total £m |
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| At January 1, 2008 | 364 | 67 | 451 | 517 | 59 | — | 1,149 | 2,607 | ||||||
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| Loss for the year | — | — | — | — | — | — | (1) | (1) | ||||||
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| Arising on issue of ordinary shares | 2 | 15 | — | — | — | — | — | 17 | ||||||
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| Issue of B Shares | — | — | (237) | — | — | — | — | (237) | ||||||
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| Redemption of B Shares | — | — | — | 200 | — | — | (200) | — | ||||||
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| Conversion of B Shares into ordinary shares3 | 3 | — | — | 50 | — | (2) | 2 | 53 | ||||||
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| Own shares purchased | — | — | — | — | — | (71) | — | (71) | ||||||
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| Own shares vesting in share-based payment plans | — | — | — | — | — | 38 | (38) | — | ||||||
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| Share-based payment adjustments | — | — | — | — | 18 | — | 11 | 29 | ||||||
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| At December 31, 2008 | 369 | 82 | 214 | 767 | 77 | (35) | 923 | 2,397 | ||||||
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1The ‘Other reserve’ represents the value of share-based payments in respect of employees of subsidiary undertakings for which payment has not been received.
2During 2008, ordinary shares were transferred from a trust sponsored by Rolls-Royce plc to an equivalent trust sponsored by Rolls-Royce Group plc. At December 31, 2008, 8,017,635 shares (2007 nil) with a net book value of £35m (2007 nil) were held.
3On conversion of B Shares, the nominal value of ordinary shares issued is credited to share capital and the excess to a capital reserve.