FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS CONTINUED S 4 DEBTORS CONTINUED TR A Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. The Company does not TE G I expect to receive repayment of the loan due from Group undertakings within the next 12 months and has therefore presented the loan as non-current. C R 5 CREDITORS E P 2023 2022 O £m £m R Amounts due to Group undertakings 187.9 187.9 T Accrued expenses 1.8 2.9 G Derivative option over own shares 23.1 22.7 O 212.8 213.5 VE R NAN Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. C Share warrants E As part of the issue of the Second Lien SSNs by Aston Martin Capital Holdings Limited, the Company issued share warrants enabling warrant holders to subscribe for a number of ordinary shares in the Company at the subscription price of £1.67 per share (previously £10 per share prior to the rights issue in F I September 2022). The warrants can be exercised from 1 July 2021 through to 7 December 2027. The fair value of the warrants is determined at each period NAN end. A charge to the Income Statement of £19.0m has been recognised in the year ended 31 December 2023 (2022: credit of £8.4m). A total of 29,969,927 C warrants were exercised in the year ended 31 December 2023 (2022: no warrants exercised), resulting in the issuance of 8,990,975 ordinary shares (note 6). IAL 6 CAPITAL AND RESERVES S T 2023 2022 A Allotted, called up and fully paid £m £m T E 823,663,785 shares of 10.0p each (2022: 698,757,075 ordinary shares of 10.0p each) 82.4 69.9 M E N T A full reconciliation of the Company’s movement in share capital is presented in note 27 of the Group accounts. S Merger reserve F On 26 June 2020, the Company issued 304.0m ordinary shares through a non-pre-emptive placing and retail offer. The shares were issued at 50p raising U R gross proceeds of £152.1m, with £2.7m recognised as share capital and the remaining £149.4m recognised as merger reserve. The merger reserve is used T H where more than 90% of the shares in a subsidiary are acquired and the consideration includes the issue of new shares by the Company, thereby attracting E R merger relief under the Companies Act 2006. The merger reserve value was reduced by £5.4m of transaction costs associated with the equity raise. INF Capital reserve OR The capital reserve of £2.0m arose from the share-for-share exchange on the acquisition of the entire share capital of Aston Martin Holdings (UK) Limited in 2018. M A T I ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 206