GSK_ Annual_Report_2021-22

GlaxoSmithKline Pharmaceuticals Limited | Annual Report 2021-22 Notes to the Consolidated Financial Statements for the year ended March 31, 2022 256 Note 54 : Share-based payment arrangements Restricted Share Awards (RSAs) Certain employees of the Group are entitled to receive cash settled stock based awards (‘awards’) pursuant to employee share schemes (‘scheme’) administered by GlaxoSmithKline Plc. (‘Plc’). Under this plan, certain employees are granted cash settled RSAs at no cost, which entitle them to receive cash equivalent to the stock price of the Plc’s shares listed at London stock exchange after two and a half to three year vesting period during which the employee has to remain in continuous employment with the Group. These RSA’s do not give any voting rights or the right to accrue dividends. The fair value of these awards is determined based on the closing share price on the day of grant, after deducting the expected future dividend yield of 3.8% (Previous Year 5%) over the duration of the award. Reconciliation of RSAs Number of RSA As at April 1, 2020 168,276 Granted 95,703 Exercised * (61,387) Cancelled** (37,408) As at March 31, 2021 165,184 Granted 67,243 Exercised * (65,995) Cancelled** (42,564) As at March 31, 2022 123,868 *The weighted average share price at the date of exercise of the awards exercised during the year ended March 31, 2022 was GBP 16.47 (March 31, 2021 GBP 12.88). ** Also includes for employees transferred. Expense arising from share-based payment transactions Total expenses arising from share-based payment transactions recognised in the Statement of Profit and Loss as part of employee benefit expense were as follows: ( ` in lakhs ) Year ended March 31, 2022 Year ended March 31, 2021 Restricted Share Awards (RSAs) 6,54.48 12,85.06 Carrying amount of liability ( ` in lakhs ) Year ended March 31, 2022 Year ended March 31, 2021 Carrying amount of liability included in long term incentive plan (Notes 21 and 27) 9,95.72 13,04.42 Note 55 : Disclosure pursuant to Ind AS 105 “Non-current assets held for sale and discontinued operations”: (i) Transfer of Iodex and Ostocalcium Brands : The Board of Directors (‘Board’) of the Parent Company at their meeting held on July 26, 2021 had approved the transfer of the trademarks pertaining to ‘Iodex’ and ‘Ostocalcium’ brands (“ Brands”) in India along with legal, economic, commercial and marketing rights of such brands and other identified assets to GlaxoSmithKline Asia Private Limited with respective values aggregating ` 1649,01.00 lakhs. The transaction was consummated and the consideration was received by the Parent Company during the year after the receipt of shareholders’ and regulatory approvals.