BP 2010 Annual Report Download - page 211

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Notesonnancialstatements
Financial statements
39.Called-upsharecapital
Theallotted,calledupandfullypaidsharecapitalat31Decemberwasasfollows:
         2010  2009  2008
        Shares  Shares  Shares
Issued       (thousand)$ million (thousand) $million (thousand) $million
8%cumulativerst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
       21   21  21
Ordinarysharesof25centseach      
 At1January   20,629,665 5,158 20,618,458 5,155 20,863,424 5,216
 Issueofnewsharesforemployeeshareschemesa 17,495 4 11,207 3 24,791 6
 Repurchaseofordinarysharecapitalb   – – – – (269,757) (67)
At31December   20,647,160 5,162  20,629,665 5,158 20,618,458 5,155
       5,183  5,179  5,176
Authorized        
8%cumulativerst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
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a
Considerationreceivedrelatingtotheissueofnewsharesforemployeeshareschemesamountedto$138million(2009$84millionand2008$180million).
b
Purchasedforatotalconsiderationofnil(2009niland2008$2,914million),allofwhichwereforcancellation.At31December2010,112,803,287(2009112,803,287and2008150,444,408)ordinaryshares
boughtbackwereawaitingcancellation.Theseshareshavebeenexcludedfromordinarysharesinissueshownabove.Transactioncostsofsharerepurchasesamountedtonil(2009niland
2008$16million).
Votingonsubstantiveresolutionstabledatageneralmeetingisonapoll.Onapoll,shareholderspresentinpersonorbyproxyhavetwovotesforevery£5
innominalamountoftherstandsecondpreferencesharesheldandonevoteforeveryordinaryshareheld.Onashow-of-handsvoteonotherresolutions
(proceduralmatters)atageneralmeeting,shareholderspresentinpersonorbyproxyhaveonevoteeach.
Intheeventofthewindingupofthecompany,preferenceshareholderswouldbeentitledtoasumequaltothecapitalpaiduponthepreference
shares,plusanamountinrespectofaccruedandunpaiddividendsandapremiumequaltothehigherof(i)10%ofthecapitalpaiduponthepreference
sharesand(ii)theexcessoftheaveragemarketpriceofsuchsharesontheLondonStockExchangeduringtheprevioussixmonthsoverparvalue.
Treasury shares
         2010  2009  2008
        SharesNominal value Shares Nominalvalue Shares Nominalvalue
     (thousand)$ million (thousand) $million (thousand) $million
At1January   1,869,777 467 1,888,151 472 1,940,639 485
SharesgiftedtotheEmployeeShareOwnershipPlans   – – (1,265) (1) (10,000) (2)
SharestransferredatmarketpricetotheEmployee
 ShareOwnershipPlans   (7,125) (2) – – (20,000) (5)
Sharesre-issuedtoemployeeshareschemes   (11,953) (3) (17,109) (4) (22,488) (6)
At31December   1,850,699 462 1,869,777 467 1,888,151 472
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Foreachyearpresented,thebalanceat1Januaryrepresentsthemaximumnumberofsharesheldintreasuryduringtheyear,representing9.1%
(20099.2%and20089.3%)ofthecalled-upordinarysharecapitalofthecompany.
During2010,themovementintreasurysharesrepresentedlessthan0.1%(2009lessthan0.1%and20080.25%)oftheordinarysharecapitalofthe
company.
On14January2011,BPenteredintoashareswapagreementwithRosneftOilCompanythatwouldresultinBPissuing988,694,683newordinary
sharestoRosneftwhenthetransactioncompletes,whichissubjecttothemattersdisclosedinNote6.
BPAnnualReportandForm20-F2010 209