BP 2012 Annual Report Download - page 156

Called-up share capital
Details of the allotted, called-up and fully-paid share capital at
31 December 2012 are set out in Financial statements – Note 38 on
page 245.
At the AGM on 12 April 2012, authorization was given to the directors to
allot shares up to an aggregate nominal amount equal to $3,163 million.
Authority was also given to the directors to allot shares for cash and to
dispose of treasury shares, other than by way of rights issue, up to a
maximum of $237 million, without having to offer such shares to existing
shareholders. These authorities are given for the period until the next
AGM in 2013 or 12 July 2013, whichever is the earlier. These authorities
are renewed annually at the AGM.
Share prices and listings
Markets and market prices
The primary market for BP’s ordinary shares is the London Stock
Exchange (LSE). BP’s ordinary shares are a constituent element of the
Financial Times Stock Exchange 100 Index. BP’s ordinary shares are also
traded on the Frankfurt Stock Exchange in Germany.
Trading of BP’s shares on the LSE is primarily through the use of the
Stock Exchange Electronic Trading Service (SETS), introduced in 1997 for
the largest companies in terms of market capitalization whose primary
listing is the LSE. Under SETS, buy and sell orders at specific prices may
be sent electronically to the exchange by any firm that is a member of the
LSE, on behalf of a client or on behalf of itself acting as a principal. The
orders are then anonymously displayed in the order book. When there is a
match on a buy and a sell order, the trade is executed and automatically
reported to the LSE. Trading is continuous from 8.00 a.m. to 4.30 p.m. UK
time but, in the event of a 20% movement in the share price either way,
the LSE may impose a temporary halt in the trading of that company’s
shares in the order book to allow the market to re-establish equilibrium.
Dealings in ordinary shares may also take place between an investor and a
market-maker, via a member firm, outside the electronic order book.
In the US, the company’s securities are traded on the New York Stock
Exchange (NYSE) in the form of ADSs, for which JPMorgan Chase Bank,
N.A. is the depositary (the Depositary) and transfer agent. The
Depositary’s principal office is 1 Chase Manhattan Plaza, N.A., Floor 58,
New York, NY 10005-1401, US. Each ADS represents six ordinary shares.
ADSs are listed on the New York Stock Exchange. ADSs are evidenced by
American depositary receipts (ADRs), which may be issued in either
certificated or book entry form.
The following table sets forth for the periods indicated the highest and
lowest middle market quotations for BP’s ordinary shares and ADSs for
the periods shown. These are derived from the highest and lowest sales
prices as reported on the LSE and NYSE, respectively.
Pence Dollars
Ordinary shares American depositary sharesa
High Low High Low
Year ended 31 December
2008 657.25 370.00 77.69 37.57
2009 613.40 400.00 60.00 33.71
2010 658.20 296.00 62.38 26.75
2011 514.90 361.25 49.50 33.63
2012 512.00 385.09 48.33 36.25
Year ended 31 December
2011: First quarter 514.90 431.00 49.50 42.51
Second quarter 480.23 425.00 47.45 41.26
Third quarter 483.04 361.25 47.09 35.10
Fourth quarter 477.54 363.95 45.83 33.63
2012: First quarter 512.00 455.05 48.33 42.85
Second quarter 475.47 385.09 45.60 36.25
Third quarter 456.00 417.03 44.15 39.13
Fourth quarter 464.71 416.35 43.90 39.59
2013: First quarter (to 19 February) 482.33 426.50 45.45 41.42
Month of
September 2012 454.17 417.03 44.15 40.33
October 2012 464.71 423.75 43.90 41.27
November 2012 447.99 416.35 43.24 39.59
December 2012 435.69 420.50 42.31 40.82
January 2013 482.33 426.50 45.45 42.06
February 2013 (to 19 February) 474.45 443.60 44.81 41.42
aOne ADS is equivalent to six 25 cent ordinary shares.
Market prices for the ordinary shares on the LSE and in after-hours trading
off the LSE, in each case while the NYSE is open, and the market prices
for ADSs on the NYSE, are closely related due to arbitrage among the
various markets, although differences may exist from time to time.
On 19 February 2013, 863,865,919.5 ADSs (equivalent to approximately
5,183,195,517 ordinary shares or some 27.05% of the total issued share
capital, excluding shares held in treasury) were outstanding and were held
by approximately 104,889 ADS holders. Of these, about 103,656 had
registered addresses in the US at that date. One of the registered holders
of ADSs represents some 789,140,307 underlying holders.
On 19 February 2013, there were approximately 295,062 holders of record
of ordinary shares. Of these holders, around 1,604 had registered
addresses in the US and held a total of some 4,424,855 ordinary shares.
Since certain of the ordinary shares and ADSs were held by brokers and
other nominees, the number of holders of record in the US may not be
representative of the number of beneficial holders or of their country of
residence.
154 Shareholder information
BP Annual Report and Form 20-F 2012