Company Cash Flow StatementCompany Cash Flow Statement

 
  Year ended
31 March
2009
£m
Year ended
31 March
2008
£m
Cash flows from investing activities    
Dividends received from subsidiaries 76
Investments in subsidiaries (104)
Net cash flows from investing activities 76 (104)
Cash flows from financing activities    
Proceeds from issue of ordinary shares 1
Proceeds from exercise of share options 1 6
Equity dividend paid (106) (83)
Net payments to acquire Treasury Shares (7) (9)
Loans to employee share trusts to acquire own shares (22) (8)
Net payments to subsidiaries (32) (42)
Interest paid (20)
Net funds from borrowing, net of fees 110 239
Net cash flows from financing activities (76) 104
Net movement in cash and cash equivalents
Net cash and cash equivalents at beginning of year – as restated (note 1(a))
Net cash and cash equivalents at end of year – as restated (note 1 (a))

The comparative results have been restated to exclude the cash held by the employee share trusts which was previously consolidated into the results of the Company (note 1(a)).