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Share Plans (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Movement in Number of Shares deld by ESOP Trustees Own shares held by ESOP
 
In millions
 
 
 
At January 1, 2018
$
(1.0
)
 
 
Issue of new shares
(1.3
)
 
 
Shares sold from ESOP
0.4

 
 
Transfer of treasury shares into ESOP
(1.4
)
 
 
Utilization of ESOP shares
1.1

 
 
At December 31, 2018
(2.2
)
 
 
Shares sold from ESOP
0.2

 
 
Utilization of ESOP shares
0.3

 
 
At December 31, 2019
$
(1.7
)
 

The change in the number of shares held by the Trustees of the ESOP and the number of share options held over those shares are shown below:
 
 
Number of shares held by ESOP Trustees
 
 
 
£0.0001 deferred shares
 
£0.50 ordinary shares
 
 
At January 1, 2019
15,977,968,688

 
1,621,301

 
 
Shares utilized during the year

 
(253,881
)
 
 
Shares sold from the ESOP during the year

 
(151,200
)
 
 
At December 31, 2019
15,977,968,688

 
1,216,220

 

Schedule of Share-based Compensation Expense
Total share-based compensation expense for 2019, 2018 and 2017 was as follows:
 
 
Years ended December 31,
 
 
In millions
2019
 
2018
 
2017
 
 
Other share-based compensation charges
$
4.5

 
$
4.8

 
$
2.2

 
 
Restructuring share-based compensation charges

 

 
0.9

 
 
Total share-based compensation charges
$
4.5

 
$
4.8

 
$
3.1

 

Share-based Compensation, Stock Options, Activity
The following tables illustrates the number of, and movements in, share options during the year, with each option relating to 1 ordinary share:
 
 
Number of shares
 
Weighted- average exercise price
 
Weighted- average remaining contractual life (years)
 
Aggregate intrinsic value ($M)
 
 
At January 1, 2019
849,064

 
$
2.10

 
1.9
 
$
13.3

 
 
Granted during the year
212,419

 
$
0.90

 
 
 
 
 
 
Exercised during the year
(491,216
)
 
$
2.65

 
 
 
 
 
 
Accrued dividend awards
13,838

 
$
0.72

 
 
 
 
 
 
Lapsed during the year
(116,743
)
 
$
2.43

 
 
 
 
 
 
At December 31, 2019
467,362

 
$
0.75

 
1.7
 
$
8.7

 
 
Options exercisable at December 31, 2019
8,903

 
$
0.66

 
2.1
 
$
0.2

 
 
Options expected to vest as of December 31, 2019
458,459

 
$
0.75

 
1.7
 
$
8.5

 



Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table illustrates the assumptions used in deriving the fair value of share options during the year:
 
 
2019
 
2018
 
2017
 
 
Dividend yield (%)
2.10
 
4.00
 
4.00
 
 
Expected volatility range (%)
 35.06 - 44.20
 
 22.65 - 35.77
 
26.81- 35.81
 
 
Risk-free interest rate (%)
 0.74 - 2.52
 
0.12 - 2.57
 
1.00 - 2.01
 
 
Expected life of share options range (years)
0.50 - 4.00
 
0.50 - 6.00
 
0.50 - 7.36
 
 
Forfeiture rate (%)
5.00
 
5.00
 
5.00
 
 
Weighted average exercise price ($)
$1.00
 
$0.65
 
$0.65
 
 
Models used
Black-Scholes & Monte-Carlo
 
Black-Scholes & Monte-Carlo
 
Black-Scholes