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Share Plans (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Movement in Number of Shares Held by ESOP Trustees Own shares held by ESOP
In millions
At January 1, 2019$(2.2)
Shares sold from ESOP0.2 
Utilization of ESOP shares0.3 
At December 31, 2019(1.7)
Shares sold from ESOP0.3 
At December 31, 2020$(1.4)
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, 202015,977,968,688 1,216,220 
Shares utilized during the year— (131,909)
Shares sold from the ESOP during the year— (70,799)
At December 31, 202015,977,968,688 1,013,512 
Schedule of Share-based Compensation Expense
Total share-based compensation expense for 2020, 2019 and 2018 was as follows:
Years ended December 31,
In millions202020192018
Total share-based compensation charges$2.8 $4.5 $4.8 
Share-based Compensation, Stock Options, Activity
The following tables illustrates the number of, and movements in, share options during the year, with each option relating to 1 ordinary share:
Number of sharesWeighted- average exercise priceWeighted- average remaining contractual life (years)Aggregate intrinsic value ($M)
At January 1, 2020467,362 $0.75 1.7$8.7 
Granted during the year166,072 $1.00 
Exercised during the year(222,375)$0.71 
Accrued dividend awards14,727 $0.84 
Lapsed during the year(12,982)$0.90 
At December 31, 2020412,804 $0.87 1.9$6.8 
Options exercisable at December 31, 202011,495 $0.66 2.4$0.2 
Options expected to vest as of December 31, 2020401,309 $0.88 1.9$6.6 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table illustrates the assumptions used in deriving the fair value of share options during the year:
202020192018
Dividend yield (%)
3.39 - 4.09
2.10 4.00 
Expected volatility range (%)
36.48 - 56.28
35.06 - 44.20
22.65 - 35.77
Risk-free interest rate (%)
0.18 - 0.49
0.74 - 2.52
0.12 - 2.57
Expected life of share options range (years)
0.50 - 4.00
0.50 - 4.00
0.50 - 6.00
Forfeiture rate (%)5.00 5.00 5.00 
Weighted average exercise price ($)$1.00$1.00$0.65
Models usedBlack-Scholes & Monte-CarloBlack-Scholes & Monte-CarloBlack-Scholes & Monte-Carlo