BT 2016 Annual Report Download - page 243

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Overview The Strategic Report Governance Financial statements Additional information
Stock exchange listings
The principal listing of BT Group’s ordinary shares is on the London Stock Exchange. Trading on the London Stock Exchange is under the
symbol ‘BT.A’. American Depositary Shares (ADSs), have been issued by JPMorgan Chase & Co, as Depositary for the American Depositary
Receipts (ADRs) evidencing the ADSs, and are listed on the New York Stock Exchange. Trading on the New York Stock Exchange is under
the symbol ‘BT’.
In December 2015 BT changed the ratio of its NYSE-listed American Depositary Receipt (ADR) programme from the previous ratio of
one ADR per ten ordinary shares to one ADR per five ordinary shares. These changes to the ADR ratio have brought the ADR price broadly
in line with the market average. To implement the change, ADR holders on the record at the close of business on 30 November 2015
received two ADRs for every one ADR held. There was no change to the underlying ordinary shares.
Share and ADS prices
Pence per ordinary share US$ per ADS
High
pence
Low
pence
High
US$
Low
US$
Financial years ended 31 March
2012 232.10 161.00 36.89 25.69
2013 281.00 200.70 42.76 31.02
2014 418.10 265.70 69.75 40.70
2015 470.55 356.20 70.18 57.99
2016 499.80404.00 37.49 31.18
Financial year ended 31 March 2015
1 April – 30 June 2014 406.10 356.20 68.19 59.68
1 July – 30 September 2014 397.80 367.90 67.46 61.48
1 October – 31 December 2014 420.00 360.10 65.43 57.99
1 January – 31 March 2015 470.55 385.90 70.18 58.60
Financial year ended 31 March 2016a
1 April – 30 June 2015 470.00 438.80 36.92 32.82
1 July – 30 September 2015 479.15 404.00 37.35 31.30
1 October – 31 December 2015 499.80 417.20 37.49 31.91
1 January – 31 March 2016 496.00 432.95 35.87 31.18
Months
November 2015 499.80 460.50 37.49 34.89
December 2015 492.25 455.05 37.18 34.02
January 2016 487.25 452.00 35.29 32.38
February 2016 496.00 448.25 35.87 32.37
March 2016 496.00 432.95 34.96 31.18
April 2016 454.90 429.10 32.86 31.15
29 April 2016 443.20 –32.80 –
a The ADS prices stated for 2015/16 reflect the change in ADR ratio.
The prices are the highest and lowest closing middle market prices for BT ordinary shares, as derived from the Daily Official List of the
London Stock Exchange and the highest and lowest closing sales prices of ADSs, as reported on the New York Stock Exchange.
Fluctuations in the exchange rate between Sterling and the US Dollar affect the US Dollar equivalent of the Sterling price of the company’s
ordinary shares on the London Stock Exchange and, as a result, are likely to affect the market price of the ADSs on the New York Stock
Exchange.
Background
BT Group plc is a public limited company registered in England and Wales and listed on the London and New York Stock Exchanges. It was
incorporated in England and Wales on 30 March 2001 as Newgate Telecommunications Limited with the registered number 4190816.
Its registered office address is 81 Newgate Street, London EC1A 7AJ. The company changed its name to BT Group plc on 11 September
2001. Following the demerger of mmO2 from BT in November 2001, the continuing activities of BT were transferred to BT Group plc.
British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and encompasses virtually all the businesses and assets of
the BT group. The successor to the statutory corporation British Telecommunications, it was incorporated in England and Wales as a public
limited company, wholly owned by the Government, as a result of the Telecommunications Act 1984. Between November 1984 and July
1993, the Government sold all of its shareholding in British Telecommunications plc in three public offerings.