BP 2015 Annual Report Download - page 258

Fees and charges payable by ADSs holders
The Depositary collects fees for delivery and surrender of ADSs directly from investors depositing shares or surrendering ADSs for the purpose of
withdrawal or from intermediaries acting for them. The Depositary collects fees for making distributions to investors by deducting those fees from the
amounts distributed or by selling a portion of the distributable property to pay the fees.
The charges of the Depositary payable by investors are as follows:
Type of service Depositary actions Fee
Depositing or substituting the underlying
shares
Issuance of ADSs against the deposit of shares, including
deposits and issuances in respect of:
• Share distributions, stock splits, rights, merger.
• Exchange of securities or other transactions or event or
other distribution affecting the ADSs or deposited
securities.
$5.00 per 100 ADSs (or portion
thereof) evidenced by the new ADSs
delivered.
Selling or exercising rights Distribution or sale of securities, the fee being an amount
equal to the fee for the execution and delivery of ADSs that
would have been charged as a result of the deposit of such
securities.
$5.00 per 100 ADSs (or portion
thereof).
Withdrawing an underlying share Acceptance of ADSs surrendered for withdrawal of deposited
securities.
$5.00 for each 100 ADSs (or portion
thereof) evidenced by the ADSs
surrendered.
Expenses of the Depositary Expenses incurred on behalf of holders in connection with:
• Stock transfer or other taxes and governmental charges.
• Delivery by cable, telex, electronic and facsimile
transmission.
• Transfer or registration fees, if applicable, for the
registration of transfers of underlying shares.
• Expenses of the Depositary in connection with the
conversion of foreign currency into US dollars (which are
paid out of such foreign currency).
Expenses payable are subject to
agreement between the company
and the Depositary by billing holders
or by deducting charges from one or
more cash dividends or other cash
distributions.
Dividend fees ADS holders who receive a cash dividend are charged a fee
which BP uses to offset the costs associated with
administering the ADS programme.
US$0.005 per BP ADS per quarter per
cash distribution.
Fees and payments made by the Depositary
to the issuer
The Depositary has agreed to reimburse certain company expenses
related to the company’s ADS programme and incurred by the company
in connection with the ADS programme arising during the year ended
31 December 2015. The Depositary reimbursed to the company, or paid
amounts on the company’s behalf to third parties, or waived its fees and
expenses, of $11,858,206.46 for the year ended 31 December 2015.
The table below sets out the types of expenses that the Depositary has
agreed to reimburse and the fees it has agreed to waive for standard
costs associated with the administration of the ADS programme relating
to the year ended 31 December 2015. The Depositary has also paid
certain expenses directly to third parties on behalf of the company.
Category of expense reimbursed,
waived or paid directly to third parties
Amount reimbursed, waived or paid
directly to third parties for the year
ended 31 December 2015
$
Service fees and out of pocket expenses
waiveda37,650
Other third-party mailing costs reimbursedb54,014.67
Dividend feesc11,766,541.79
Total 11,858,206.46
aIncludes fees in relation to transfer agent costs and costs of the BP Scrip Dividend Programme
operated by JPMorgan Chase Bank, N.A.
bPayment of fees to Precision IR for investor support.
cDividend fees are charged to ADS holders who receive a cash distribution, which BP uses to
offset the costs associated with administering the ADS programme.
Under certain circumstances, including removal of the Depositary or
termination of the ADR programme by the company, the company is
required to repay the Depositary certain amounts reimbursed and/or
expenses paid to or on behalf of the company during the 12-month period
prior to notice of removal or termination.
Documents on display
BP Annual Report and Form 20-F 2015 and BP Strategic Report 2015 are
available online at bp.com/annualreport. To obtain a hard copy of BP’s
complete audited financial statements, free of charge, UK based
shareholders should contact BP Distribution Services by calling
[phone] or by emailing [email protected]. If
based in the US or Canada shareholders should contact Issuer Direct by
calling [phone] or by emailing [email protected].
The company is subject to the information requirements of the US
Securities Exchange Act of 1934 applicable to foreign private issuers. In
accordance with these requirements, the company files its Annual
Report and Form 20-F and other related documents with the SEC. It is
possible to read and copy documents that have been filed with the SEC
at its headquarters located at 100 F Street, NE, Washington, DC 20549,
US. You may also call the SEC at +1 800-SEC-0330. In addition, BP’s
SEC filings are available to the public at the SEC’s website. BP discloses
in this report (see Corporate governance practices (Form 20-F Item 16G)
on page 244) significant ways (if any) in which its corporate governance
practices differ from those mandated for US companies under NYSE
listing standards.
254 BP Annual Report and Form 20-F 2015