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Notesonnancialstatements
Financial statements
39.Called-upsharecapital
Theallotted,calledupandfullypaidsharecapitalat31Decemberwasasfollows:
2010 2009 2008
Shares Shares Shares
Issued (thousand)$ million (thousand) $million (thousand) $million
8%cumulativerstpreferencesharesof£1each 7,233 12 7,233 12 7,233 12
9%cumulativesecondpreferencesharesof£1each 5,473 9 5,473 9 5,473 9
21 21 21
Ordinarysharesof25centseach
At1January 20,629,665 5,158 20,618,458 5,155 20,863,424 5,216
Issueofnewsharesforemployeeshareschemesa 17,495 4 11,207 3 24,791 6
Repurchaseofordinarysharecapitalb – – – – (269,757) (67)
At31December 20,647,160 5,162 20,629,665 5,158 20,618,458 5,155
5,183 5,179 5,176
Authorized
8%cumulativerstpreferencesharesof£1each 7,250 12 7,250 12 7,250 12
9%cumulativesecondpreferencesharesof£1each 5,500 9 5,500 9 5,500 9
Ordinarysharesof25centseach 36,000,000 9,000 36,000,000 9,000 36,000,000 9,000
a
Considerationreceivedrelatingtotheissueofnewsharesforemployeeshareschemesamountedto$138million(2009$84millionand2008$180million).
b
Purchasedforatotalconsiderationofnil(2009niland2008$2,914million),allofwhichwereforcancellation.At31December2010,112,803,287(2009112,803,287and2008150,444,408)ordinaryshares
boughtbackwereawaitingcancellation.Theseshareshavebeenexcludedfromordinarysharesinissueshownabove.Transactioncostsofsharerepurchasesamountedtonil(2009niland
2008$16million).
Votingonsubstantiveresolutionstabledatageneralmeetingisonapoll.Onapoll,shareholderspresentinpersonorbyproxyhavetwovotesforevery£5
innominalamountoftherstandsecondpreferencesharesheldandonevoteforeveryordinaryshareheld.Onashow-of-handsvoteonotherresolutions
(proceduralmatters)atageneralmeeting,shareholderspresentinpersonorbyproxyhaveonevoteeach.
Intheeventofthewindingupofthecompany,preferenceshareholderswouldbeentitledtoasumequaltothecapitalpaiduponthepreference
shares,plusanamountinrespectofaccruedandunpaiddividendsandapremiumequaltothehigherof(i)10%ofthecapitalpaiduponthepreference
sharesand(ii)theexcessoftheaveragemarketpriceofsuchsharesontheLondonStockExchangeduringtheprevioussixmonthsoverparvalue.
Treasury shares
2010 2009 2008
SharesNominal value Shares Nominalvalue Shares Nominalvalue
(thousand)$ million (thousand) $million (thousand) $million
At1January 1,869,777 467 1,888,151 472 1,940,639 485
SharesgiftedtotheEmployeeShareOwnershipPlans – – (1,265) (1) (10,000) (2)
SharestransferredatmarketpricetotheEmployee
ShareOwnershipPlans (7,125) (2) – – (20,000) (5)
Sharesre-issuedtoemployeeshareschemes (11,953) (3) (17,109) (4) (22,488) (6)
At31December 1,850,699 462 1,869,777 467 1,888,151 472
Foreachyearpresented,thebalanceat1Januaryrepresentsthemaximumnumberofsharesheldintreasuryduringtheyear,representing9.1%
(20099.2%and20089.3%)ofthecalled-upordinarysharecapitalofthecompany.
During2010,themovementintreasurysharesrepresentedlessthan0.1%(2009lessthan0.1%and20080.25%)oftheordinarysharecapitalofthe
company.
On14January2011,BPenteredintoashareswapagreementwithRosneftOilCompanythatwouldresultinBPissuing988,694,683newordinary
sharestoRosneftwhenthetransactioncompletes,whichissubjecttothemattersdisclosedinNote6.
BPAnnualReportandForm20-F2010 209