Business Context and Reporting Period
This Form 6-K filing by GlaxoSmithKline plc covers the period ending December 24, 2008. The document serves as a replacement for three previous announcements dated May 6, August 4, and November 7, 2008. The primary purpose is to correct a calculation error regarding the market price of Ordinary shares used in the GlaxoSmithKline Performance Share Plan's dividend reinvestment element.
Key Financial Metrics
The filing does not provide consolidated financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data presented relates to specific share transaction prices and notional share counts for plan participants:
- Corrected Share Price (July 2008 Dividend): £11.21 per Ordinary share (corrected from £11.20) and $44.11 per ADR.
- October 2008 Dividend Price: £11.67 per Ordinary share and $46.53 per ADR.
- January 2009 Dividend Price: £11.66 per Ordinary share and $37.32 per ADR.
Material Changes
The material change disclosed is a correction to the market price used for the dividend reinvestment calculation for the dividend paid on July 10, 2008. The Administrators notified the Company on December 8, 2008, that the price should have been £11.21 instead of £11.20. Due to the cumulative nature of dividend reinvestment, this correction resulted in minor adjustments to the calculated shares reinvested for affected participants regarding dividends paid on October 9, 2008, and January 8, 2009. Additionally, details for JP Garnier, C Viehbacher, and SM Werner were excluded from the replacement announcements as they are no longer directors or Persons Discharging Managerial Responsibility.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. It strictly addresses the administrative correction of share plan calculations. The document notes that notional dividends accrued will be paid out based on the percentage of Performance Share Plan holdings that vest after the relevant three-year measurement period.
Investor Verification Checklist
- Verify the corrected share price of £11.21 for the July 10, 2008 dividend reinvestment.
- Confirm the updated notional share holdings for directors and managers listed in the replacement tables.
- Note the exclusion of JP Garnier, C Viehbacher, and SM Werner from the updated transaction details.
- Understand that this filing does not contain operational or financial performance data for the company.