The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company. All shares rank equally with regard to the Company's residual assets.

There has been no change in share premium, which has remained at £151.0m (2019: £151.0m).

In total the Company received proceeds of £nil (2019: £0.4m) from the exercise of share options. During the year the Company purchased £nil (2019: £1.0m) of its own shares.

Investment in Own Shares

At 3 April 2020 the Company held in Trust 2,134,139 (2019: 2,134,139) of its own shares with a nominal value of £21,341 (2019: £21,341). The Trust has waived any entitlement to the receipt of dividends in respect of its holding of the Company's ordinary shares. The market value of these shares at 3 April 2020 was £1.4m (2019: £5.1m). In the current period nil (2019: nil) were repurchased and transferred into the Trust, with nil (2019: 254,689) reissued on exercise of share options.

Other Reserves

Capital Redemption Reserve

The capital redemption reserve has arisen following the purchase by the Company of its own shares and comprises the amount by which the distributable profits were reduced on these transactions in accordance with the Companies Act 2006.

Hedging Reserve

The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred.