BP 2015 Annual Report Download - page 159

30. Called-up share capital
The allotted, called up and fully paid share capital at 31 December was as follows:
2015 2014 2013
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 20,005,961 5,002 20,426,632 5,108 20,959,159 5,240
Issue of new shares for the scrip dividend programme 102,810 26 165,644 41 202,124 51
Issue of new shares for employee share-based payment plansb––25,598 6 18,203 5
Repurchase of ordinary share capitalc––(611,913) (153) (752,854) (188)
At 31 December 20,108,771 5,028 20,005,961 5,002 20,426,632 5,108
5,049 5,023 5,129
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.
bConsideration received relating to the issue of new shares for employee share-based payment plans amounted to $207 million in 2014 and $116 million in 2013.
cThere were no shares repurchased in 2015 (2014 shares were repurchased for a total consideration of $4,796 million, including transaction costs of $26 million and 2013 shares were repurchased for a
total consideration of $5,493 million, including transaction costs of $30 million). All shares purchased were for cancellation.
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 sharesa
2015 2014 2013
Shares
thousand
Nominal value
$ million
Shares
thousand
Nominal value
$ million
Shares
thousand
Nominal value
$ million
At 1 January 1,811,297 453 1,833,544 458 1,864,510 466
Purchases for settlement of employee share plans 51,142 13 49,559 12 38,766 9
Shares re-issued for employee share-based payment plans (106,112) (27) (71,806) (17) (69,732) (17)
At 31 December 1,756,327 439 1,811,297 453 1,833,544 458
Of which – shares held in treasury by BP 1,727,763 432 1,771,103 443 1,787,939 447
– shares held in ESOP trusts 18,453 4 34,169 9 32,748 8
– shares held by BPb10,111 3 6,025 1 12,857 3
aSee Note 31 for definition of treasury shares.
bHeld by the group in the form of ADSs to meet the requirements of employee share-based payment plans in the US.
For each year presented, the balance at 1 January represents the maximum number of shares held in treasury by BP during the year, representing
8.9% (2014 8.8% and 2013 8.7%) of the called-up ordinary share capital of the company.
During 2015, the movement in shares held in treasury by BP represented less than 0.2% (2014 less than 0.1% and 2013 less than 0.2%) of the
ordinary share capital of the company.
BP Annual Report and Form 20-F 2015 155
Financial statements