BP 2006 Annual Report Download - page 160

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42 Called up share capital
The allotted, called up and fully paid share capital at 31 December was as follows:
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2006 2005 2004
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Issued Shares (thousand) $ million Shares (thousand) $ million Shares (thousand) $ million
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8% cumulative first preference shares of £1 each 7,233 12 7,233 12 7,233 12
9% cumulative second preference shares of £1 each 5,473 9 5,473 9 5,473 9
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21 21 21
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Ordinary shares of 25 cents each
1January 20,657,045 5,164 21,525,978 5,382 22,122,610 5,531
Issue of new shares for employee share schemes 64,854 16 82,144 20 91,512 23
Issue of ordinary share capital for TNK-BP 111,151 28 108,629 27 139,096 35
Repurchase of ordinary share capital (358,374) (90) (1,059,706) (265) (827,240) (207)
Othera982,625 246 –– ––
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31 December 21,457,301 5,364 20,657,045 5,164 21,525,978 5,382
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5,385 5,185 5,403
Authorized
8% cumulative first preference shares of £1 each 7,250 12 7,250 12 7,250 12
9% cumulative second preference shares of £1 each 5,500 9 5,500 9 5,500 9
Ordinary shares of 25 cents each 36,000,000 9,000 36,000,000 9,000 36,000,000 9,000
aReclassification in respect of share repurchases in 2005.
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.
Repurchase of ordinary share capital
The company purchased 1,334,362,750 ordinary shares (2005 1,059,706,481 and 2004 827,240,360 ordinary shares) for a total consideration of
$15,481 million (2005 $11,597 million and 2004 $7,548 million), of which 358,374,000 were for cancellation and 975,988,750 were retained in treasury.
At 31 December 2006, 1,946,804,533 shares of nominal value $487 million were held in treasury (2005 982,624,971 shares of nominal value of
$246 million). Transaction costs of share repurchases amounted to $83 million (2005 $63 million and 2004 $43 million).