BP 2012 Annual Report Download - page 247

38. Called-up share capital
The allotted, called up and fully paid share capital at 31 December was as follows:
2012 2011 2010
Issued
Shares
thousand $ million
Shares
thousand $ million
Shares
thousand $ million
8% cumulative first preference shares of £1 eacha7,233 12 7,233 12 7,233 12
9% cumulative second preference shares of £1 eacha5,473 9 5,473 9 5,473 9
21 21 21
Ordinary shares of 25 cents each
At 1 January 20,813,410 5,203 20,647,160 5,162 20,629,665 5,158
Issue of new shares for the scrip dividend programme 138,406 35 165,601 41 – –
Issue of new shares for employee share-based payment
plansb7,343 2 649 – 17,495 4
At 31 December 20,959,159 5,240 20,813,410 5,203 20,647,160 5,162
5,261 5,224 5,183
aThe nominal amount of 8% cumulative first preference shares and 9% cumulative second preference shares that can be in issue at any time shall not exceed £10,000,000 for each class of preference
shares.
bThe nominal value of new shares issued for the employee share plans in 2011 amounted to $162,000. Consideration received relating to the issue of new shares for employee share plans amounted to
$47 million (2011 $4 million and 2010 $138 million).
Voting on substantive resolutions tabled at a general meeting is on a poll. On a poll, shareholders present in person or by proxy have two votes for every
£5 in nominal amount of the first and second preference shares held and one vote for every ordinary share held. On a show-of-hands vote on other
resolutions (procedural matters) at a general meeting, shareholders present in person or by proxy have one vote each.
In the event of the winding up of the company, preference shareholders would be entitled to a sum equal to the capital paid up on the preference
shares, plus an amount in respect of accrued and unpaid dividends and a premium equal to the higher of (i) 10% of the capital paid up on the preference
shares and (ii) the excess of the average market price of such shares on the London Stock Exchange during the previous six months over par value.
Treasury shares
2012 2011 2010
Shares
thousand
Nominal value
$ million
Shares
thousand
Nominal value
$ million
Shares
thousand
Nominal value
$ million
At 1 January 1,837,508 459 1,850,699 462 1,869,777 467
Shares transferred to ESOPs at market price ––– – (7,125) (2)
Shares re-issued for employee share-based payment plans (14,100) (4) (13,191) (3) (11,953) (3)
At 31 December 1,823,408 455 1,837,508 459 1,850,699 462
For each year presented, the balance at 1 January represents the maximum number of shares held in treasury during the year, representing 8.8% (2011
9.0% and 2010 9.1%) of the called-up ordinary share capital of the company.
During 2012, the movement in treasury shares represented less than 0.1% (2011 less than 0.1% and 2010 less than 0.1%) of the ordinary share capital
of the company.
Financial statements 245
BP Annual Report and Form 20-F 2012
Financial statements