BP 2013 Annual Report Download - page 282

Purchases of equity securities by the issuer and affiliated purchasers
On 22 March 2013 BP announced the start of a share repurchase, or buyback, programme (the buyback programme). The buyback programme is
expected to return up to $8 billion to BP shareholders. As at 18 February 2014 the total number of ordinary shares repurchased under the buyback
programme since 22 March 2013 was 947,930,354 at a cost of $7,065 million including transaction costs. The following table provides details of this
share repurchase activity under the buyback programme as well as details of ordinary share purchases made by the Employee Share Ownership Plans
(ESOPs) and other purchases of ordinary shares and ADSs made to satisfy the requirements of certain employee share-based payment plans.
Total number
of shares
purchaseda
Average price
paid per share
$
Number
of shares
purchased
by ESOPs or for
certain employee
share-based
payment plansb
Number
of shares
purchased as
part of publicly
announced
programmesc
Maximum
approximate
dollar value
of shares
that may yet
be purchased
under the
programme
$ million
2013
January –– –––
February –– –––
March 22 – March 28 21,400,000 7.04 – 21,400,000 7,849
April 2 – April 30 102,573,190 6.94 1,800,000 100,773,190 7,150
May 1 – May 31 91,671,000 7.25 – 91,671,000 6,485
June 3 – June 28 74,649,000 7.14 – 74,649,000 5,952
July 1 – July 31 66,536,585 7.07 – 66,536,585 5,482
August 1 – August 31 57,395,332 6.90 10,245,332 47,150,000 5,155
September 2 – September 30 64,540,000 7.08 1,860,000 62,680,000 4,711
October 1 – October 31 92,100,761 7.22 1,020,000 91,080,761 4,053
November 1 – November 29 129,680,000 7.87 – 129,680,000 3,032
December 2 – December 31 99,933,273 7.83 32,700,000 67,233,273 2,507
2014
January 2 – January 31 162,240,000 8.09 – 162,240,000 1,194
February 3 to February 18 34,836,545 7.92 2,000,000 32,836,545 934
aAll share purchases were of ordinary shares of 25 cents each and/or ADSs (each representing six ordinary shares) and were on/open market transactions.
bTransactions represent the purchase of ordinary shares by ESOPs and other purchases of ordinary shares and ADSs made to satisfy requirements of certain employee share-based payment plans.
cAt the AGMs on 12 April 2012 and 11 April 2013, authorization was given in each case to repurchase up to 1.9 billion ordinary shares in the period to the next AGM in 2013 and 2014, respectively or
12 July 2013 and 11 July 2014, respectively, being the latest dates by which an AGM must be held for the relevant year. This authorization is renewed annually at the AGM. All shares were purchased
for cancellation to reduce BP’s issued share capital. The total number of ordinary shares purchased during 2013 under the buyback programme was 752,853,809 at a cost of $5,493 million (including
transaction costs) representing 4.04% of BP’s issued share capital excluding shares held in treasury on 31 December 2013.
Fees and charges payable by ADSs holders
The Depositary collects fees for delivery and surrender of ADSs directly from investors depositing shares or surrendering ADSs for the purpose of
withdrawal or from intermediaries acting for them. The Depositary collects fees for making distributions to investors by deducting those fees from the
amounts distributed or by selling a portion of the distributable property to pay the fees.
The charges of the Depositary payable by investors are as follows:
Type of service Depositary actions Fee
Depositing or substituting the underlying
shares
Issuance of ADSs against the deposit of shares, including
deposits and issuances in respect of:
• Share distributions, stock splits, rights, merger.
• Exchange of securities or other transactions or event or
other distribution affecting the ADSs or deposited
securities.
$5.00 per 100 ADSs (or portion
thereof) evidenced by the new ADSs
delivered.
Selling or exercising rights Distribution or sale of securities, the fee being in an amount
equal to the fee for the execution and delivery of ADSs that
would have been charged as a result of the deposit of such
securities.
$5.00 per 100 ADSs (or portion
thereof).
Withdrawing an underlying share Acceptance of ADSs surrendered for withdrawal of deposited
securities.
$5.00 for each 100 ADSs (or portion
thereof) evidenced by the ADSs
surrendered.
Expenses of the Depositary Expenses incurred on behalf of holders in connection with:
• Stock transfer or other taxes and governmental charges.
• Cable, telex, electronic and facsimile transmission, delivery.
• Transfer or registration fees, if applicable, for the
registration of transfers of underlying shares.
• Expenses of the Depositary in connection with the
conversion of foreign currency into US dollars (which are
paid out of such foreign currency).
Expenses payable at the sole
discretion of the Depositary by billing
holders or by deducting charges from
one or more cash dividends or other
cash distributions.
278 BP Annual Report and Form 20-F 2013