BP 2010 Annual Report Download - page 139

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Additional information for shareholders
Additionalinformationforshareholders
UKstampdutyandstampdutyreservetax
Thestatementsbelowrelatetowhatisunderstoodtobethecurrent
practiceofHMRevenue&CustomsintheUKunderexistinglaw.
ProvidedthatanyinstrumentoftransferisnotexecutedintheUK
andremainsatalltimesoutsidetheUKandthetransferdoesnotrelateto
anymatterorthingdoneortobedoneintheUK,noUKstampdutyis
payableontheacquisitionortransferofADSs.Neitherwillanagreementto
transferADSsintheformofADRsgiverisetoaliabilitytostampduty
reservetax.
Purchasesofordinaryshares,asopposedtoADSs,throughthe
CRESTsystemofpaperlesssharetransferswillbesubjecttostampduty
reservetaxat0.5%.Thechargewillariseassoonasthereisanagreement
forthetransferoftheshares(or,inthecaseofaconditionalagreement,
whentheconditionisfullled).Thestampdutyreservetaxwillapplyto
agreementstotransferordinaryshareseveniftheagreementismade
outsidetheUKbetweentwonon-residents.Purchasesofordinaryshares
outsidetheCRESTsystemaresubjecteithertostampdutyatarateof£5
per£1,000(orpart,unlessthestampdutyislessthan£5,whennostamp
dutyischarged),orstampdutyreservetaxat0.5%.Stampdutyandstamp
dutyreservetaxaregenerallytheliabilityofthepurchaser.
AsubsequenttransferofordinarysharestotheDepositary’s
nomineewillgiverisetofurtherstampdutyattherateof£1.50per£100
(orpart)orstampdutyreservetaxattherateof1.5%ofthevalueofthe
ordinarysharesatthetimeofthetransfer.AnADRholderelectingto
receiveADSsinsteadofacashdividendwillberesponsibleforthestamp
dutyreservetaxdueonissueofsharestotheDepositary’snomineeand
calculatedattherateof1.5%ontheissuepriceoftheshares.Itis
understoodthatHMRevenue&Customspracticeistocalculatetheissue
pricebyreferencetothetotalcashreceipttowhichaUSholderwould
havebeenentitledhadtheelectiontoreceiveADSsinsteadofacash
dividendnotbeenmade.ADRholderselectingtoreceiveADSsinsteadof
thecashdividendauthorizetheDepositarytosellsufcientsharestocover
thisliability.
Documentsondisplay
BPAnnual Report and Form 20-F 2010isalsoavailableonlineat
www.bp.com/annualreport.ShareholdersmayobtainahardcopyofBP’s
completeauditednancialstatements,freeofcharge,bycontactingBP
DistributionServicesat+44(0)8702413269orthroughanemailrequest
addressedtobpdistributionser[email protected](UKandRestofWorld)or
fromPrecisionIRat+18883012505orthroughanemailrequest
addressedto[e-mail](USandCanada).
ThecompanyissubjecttotheinformationrequirementsoftheUS
SecuritiesExchangeActof1934applicabletoforeignprivateissuers.In
accordancewiththeserequirements,thecompanylesitsAnnualReport
onForm20-FandotherrelateddocumentswiththeSEC.Itispossibleto
readandcopydocumentsthathavebeenledwiththeSECattheSEC’s
publicreferenceroomlocatedat100FStreetNE,Washington,DC20549,
US.YoumayalsocalltheSECat+1800-SEC-0330orlogontowww.sec.
gov.Inaddition,BP’sSEClingsareavailabletothepublicattheSEC’s
websitewww.sec.gov.BPdisclosesonitswebsiteatwww.bp.com/
NYSEcorporategovernancerules,andinthisreport(seeCorporate
governance practices (Form 20-F Item 16G) on page 105)signicantways
(ifany)inwhichitscorporategovernancepracticesdifferfromthose
mandatedforUScompaniesunderNYSElistingstandards.
Purchasesofequitysecuritiesbytheissuerandafliatedpurchasers
AttheAGMon15April2010,authorizationwasgiventorepurchaseupto1.9billionordinarysharesintheperiodtothenextAGMin2011or15July2011,
thelatestdatebywhichanAGMmustbeheld.ThisauthorizationisrenewedannuallyattheAGM.Norepurchasesofsharesweremadeintheperiod
1January2010to18February2011.
ThefollowingtableprovidesdetailsofsharepurchasesmadebyESOPtrusts.
          Maximum
         Totalnumber numberof
         ofshares sharesthat
         purchasedas mayyet
       Totalnumberof Average partofpublicly bepurchased
       shares paidpershare announced underthe
       purchased $ programmes programmea
2010
January      51 10.36
February      144,523 11.41
March       626 8.41
April       5,001,610 11.41
May      1,941,069 11.41
June       181,384 11.41
July       4,550,658 6.25
August     849 6.82
September     817,606 6.32
October      nil
November      280,559 7.20
December    38 7.18
2011
January      338,506 7.86
February(to18February)     311,362 7.60
 
aNoshareswererepurchasedpursuanttoapubliclyannouncedplan.TransactionsrepresentthepurchaseofordinarysharesbyESOPtruststosatisfyfuturerequirementsofemployeeshareschemes.
BPAnnualReportandForm20-F2010 137