BP 2009 Annual Report Download - page 205

BP Annual Report and Accounts 2009
Parent company financial statements of BP p.l.c.
Financial statements
7. Called-up share capital
The allotted, called-up and fully paid share capital at 31 December was as follows:
2009 2008
Shares Shares
Issued (thousand) $ million (thousand) $ million
8% cumulative first preference shares of £1 each 7,233 12 7,233 12
9% cumulative second preference shares of £1 each 5,473 9 5,473 9
21 21
Ordinary shares of 25 cents each
At 1 January 20,618,458 5,155 20,863,424 5,216
Issue of new shares for employee share schemes 11,207 3 24,791 6
Repurchase of ordinary share capital ––(269,757) (67)
At 31 December 20,629,665 5,158 20,618,458 5,155
5,179 5,176
Authorized
8% cumulative first preference shares of £1 each 7,250 12 7,250 12
9% cumulative second preference shares of £1 each 5,500 9 5,500 9
Ordinary shares of 25 cents each 36,000,000 9,000 36,000,000 9,000
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 did not purchase any ordinary shares in 2009 (2008 269,757,188 ordinary shares were purchased for total consideration of $2,914 million
and 2007 663,149,528 ordinary shares were purchased for total consideration of $7,497 million of which all were for cancellation). At 31 December 2009,
1,869,777,323 shares of nominal value $467 million were held in treasury (2008 1,888,151,157 shares of nominal value $472 million and 2007
1,940,638,808 shares of nominal value $485 million). There were no transaction costs for share purchases in 2009 (2008 $16 million and 2007 $40 million).
8. Capital and reserves
203
$ million
Share Capital Share-based Profit
Share premium redemption Merger Own Treasury payment and loss
capital account reserve reserve shares shares reserve account Total
At 1 January 2009 5,176 9,763 1,072 26,509 (326) (21,513) 1,271 72,840 94,792
Currency translation
differences – – – – – – – 104 104
Actuarial loss on pensions
(net of tax) – – – – – – – (421) (421)
Share-based payments 3 84 – – 112 210 248 – 657
Profit for the year – – – – – – – 34,524 34,524
Dividends – – – – – – – (10,483) (10,483)
At 31 December 2009 5,179 9,847 1,072 26,509 (214) (21,303) 1,519 96,564 119,173