30. Commitments under Operating and Finance Leases Preference Share Capital 5% Cumulative Preference Shares of €1.27 each  (iv) 7% ‘A’ Cumulative Preference Shares of €1.27 each  (v) Number of  Shares (‘000s) €m Number of Shares (‘000s) €m Authorised At 1 January 2012 and 31 December 2012  150   -  872   1  Allotted, called-up and fully paid At 1 January 2012 and 31 December 2012  50   -  872   1  There was no movement in the number of cumulative preference shares in either the current or the prior year. (iv) The holders of the 5% Cumulative Preference Shares are entitled to a fixed cumulative preference dividend at a rate of 5% per annum and priority in a  winding-up to repayment of capital, but have no further right to participate in profits or assets and are not entitled to be present or vote at general meetings  unless their dividend is in arrears. Dividends on the 5% Cumulative Preference Shares are payable half-yearly on 15 April and 15 October in each year. The  5% Cumulative Preference Shares represent 0.03% of the total issued share capital. (v) The holders of the 7% ‘A’ Cumulative Preference Shares are entitled to a fixed cumulative preference dividend at a rate of 7% per annum, and subject to the  rights of the holders of the 5% Cumulative Preference Shares, priority in a winding-up to repayment of capital, but have no further right to participate in profits  or assets and are not entitled to be present or vote at general meetings unless their dividend is in arrears or unless the business of the meeting includes certain  matters, which are specified in the Articles of Association. Dividends on the 7% ‘A’ Cumulative Preference Shares are payable half-yearly on 5 April and 5  October in each year. The 7% ‘A’ Cumulative Preference Shares represent 0.44% of the total issued share capital. Treasury Shares/own shares 2012 2011 €m €m At 1 January (183) (199) Treasury Shares/own shares reissued  37   16  At 31 December  (146) (183) As at the balance sheet date, the total number of Treasury Shares held was 7,374,706 (2011: 8,919,195); the nominal value of these shares was €3 million (2011:  €3 million). During the year ended 31 December 2012, 1,317,872 shares were reissued (2011: 287,950) to satisfy exercises and appropriations under the Group’s  share option and share participation schemes. In addition, 226,617 (2011: 150,330) shares were reissued to the CRH plc Employee Benefit Trust in connection  with the release of the award under the Performance Share Plan. These reissued Treasury Shares were previously purchased at an average price of €24.11 (2011:  €24.17). No Treasury Shares were purchased during 2012 or 2011. Reconciliation of shares issued to net proceeds  Shares issued at nominal amount: - scrip shares issued in lieu of cash dividends  2   3  Premium on shares issued  86   132  Total value of shares issued  88   135  Issue of scrip shares in lieu of cash dividends (note 12) (88) (135) Net proceeds from issue of shares  -  - Share Premium At 1 January 4,047 3,915 Premium arising on shares issued 86 132 At 31 December 4,133 4,047 29. Share Capital and Reserves  | continued Operating leases Future minimum rentals payable under non-cancellable operating leases at 31 December are as follows: 2012 2011 €m €m Within one year  274   251  After one year but not more than five years  661   615  More than five years  401   384   1,336   1,250  Finance leases Future minimum lease payments under finance leases are not material for the Group. 114 CRH