Notes to the accounts

21 Share capital

	Number of shares millions	£m
Ordinary shares of 5p each:
Authorised	210.0	10.5
Issued and fully paid:
As at 1 January 2004	124.1	6.2
Issued under share option schemes	0.2	-
As at 31 December 2004	124.3	6.2

During the year, 0.2 million ordinary shares were issued under share option schemes, giving rise to net proceeds of £0.7m.

Share options
Options have been granted to subscribe for ordinary shares of Spectris plc and those outstanding at 31 December 2004 were as follows:

	Granted	Number of shares thousands	Subscription price £	Exercise period
Savings related share option schemes	1999	39	3.96	2005
	2001	32	3.58	2005
	2002	65	3.43	2006
	2003	60	4.69	2007
	2004	123	4.08	2008
Total shares and weighted average price		319	4.00
Executive share option schemes	1995	24	3.79	1998-2005
	1995	8	5.86	1998-2005
	1995	53	5.25	1998-2005
	1996	16	5.97	1999-2006
	1996	17	3.49	1999-2006
	1996	8	7.77	2001-2006
	1997	2	5.39	2000-2007
	1997	17	6.19	2000-2007
	1997	9	6.19	2000-2007
	1997	12	6.61	2000-2007
	1998	44	5.51	2001-2008
	1998	6	5.51	2001-2008
	1998	6	0.05	2002-2005
	1998	10	2.39	2001-2008
	1998	5	2.39	2001-2008
	1998	23	0.05	2002-2005
	1998	13	3.85	2001-2008
	1999	9	4.34	2002-2009
	1999	26	3.96	2002-2009
	2000	9	5.13	2003-2010
	2000	1	5.13	2003-2010
	2000	114	5.25	2003-2010
	2000	73	5.25	2003-2010
	2001	43	4.99	2004-2011
	2001	126	3.58	2004-2011
	2001	12	3.58	2004-2011
	2001	64	3.58	2004-2011
	2003	41	4.69	2006-2013
	2004	206	4.06	2007-2014
Total shares and weighted average price		997	4.40

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Options to be satisfied by shares that are held by the Employee Benefit Trust

	Granted	Number of shares thousands	Subscription price £	Exercise period
	1996	103	6.62	1999-2006
	1996	3	6.38	1999-2006
	1997	117	5.39	2000-2007
	1997	39	6.19	2000-2007
	1998	95	5.51	2001-2008
	1998	5	5.51	2001-2008
	1998	97	2.39	2001-2008
	1998	7	2.39	2001-2008
	1999	82	3.22	2002-2009
	1999	68	3.96	2002-2009
	1999	1	3.96	2002-2009
	2000	224	5.13	2003-2010
	2000	276	5.25	2003-2010
	2000	27	5.25	2003-2010
	2001	243	4.99	2004-2011
	2001	367	3.58	2004-2011
	2001	34	3.58	2004-2011
	2003	162	2.79	2006-2013
	2003	182	2.79	2006-2013
	2003	137	4.69	2006-2013
	2003	127	4.69	2006-2013
	2004	124	4.62	2007-2014
	2004	124	4.62	2007-2014
Total shares and weighted average price		2,644	4.40

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