Page 109 - Paragon Annual Report 2

Notes to the consolidated financial statements (continued) 26 Share capital
Allotted, called up and fully paid
Ordinary Class A shares of €1.00 each Ordinary Class B shares of €1.00 each
All authorised and issued share capital is represented by equity shareholdings.
27 Dividends paid
Dividends declared and paid in the year – Class B shares
28 Capital and other commitments
Capital expenditure contracted but not provided
15,789,474 14,210,526
30,000,000
15,789,474 14,210,526
30,000,000
| 105
15,789,474
14,210,526
30,000,000
No.
15,789,474
14,210,526
30,000,000
2017
€
No.
2016
€
2017
€000
–
2016
€000
–
–
2017
–
2016
€000
€000
At 30 June, the Group had outstanding commitments for the future minimum lease payments under non- cancellable operating leases as follows:
23,807
13,449
47,750
Land and buildings
11,243
17,546
27
Other
35,050
13,476
Total
2017
€000
10,494
2016
€000
6,044 13,691 3,101
2017
€000
6,276
2016
€000
3,787 6,443 5
2017
€000
16,770
2016
€000
22,836
10,235
65,296
Within one year
Between two and five years After five years
9,831 20,134 3,106
33,071
The Group has entered into commercial leases on certain properties, items of machinery and motor vehicles. These leases have an average duration of between three to ten years. Certain property lease agreements contain an option for renewal with such options exercisable three to six months before the expiry of the lease term at rentals based on market price at the time of exercise. There are no restrictions placed upon the lease by entering into these leases.
Operating lease commitments where the Group is lessor
The Group has let property that is currently surplus to requirements under a non-cancellable lease with remaining terms between two to five years. There is no provision for an upward rent review.
Not more than one year 558 After one year but not more than five years 837
1,395
2017
€000
558
279
2016
€000
837
Paragon Group Limited – 05258175