BP p.l.c. share issuance

RNS Number : 1669S

BP PLC

17 December 2016

 

17 December 2016

BP p.l.c. share issuance

BP has today separately announced that it has been awarded a 10% working interest in the concession for Abu Dhabi's onshore oil interests. The consideration for the transaction is intended to be satisfied through the issuance by BP p.l.c. of 392,920,353 new ordinary shares, par value US$0.25 each, to be held on behalf of the Government of Abu Dhabi.

As at 16 December 2016, the issued share capital of BP p.l.c. comprised 19,078,998,760 ordinary shares (excluding treasury shares) par value US$0.25 per share, each with one vote and 12,706,252 preference shares par value £1 per share with two votes for every £5 in nominal capital held.

Treasury shares are not taken into consideration in relation to voting at shareholder meetings.

The ordinary shares to be issued in connection with this transaction will be issued at a price of £4.47 per ordinary share¹, which price was determined by reference to an agreed prior pricing period for BP's ordinary shares.

The issuance of the new ordinary shares in connection with this transaction is subject to an application for the admission of those shares to the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange plc ("Admission"). It is expected that Admission will occur within 5 business days. 

Following Admission, the issued share capital of BP p.l.c. will comprise 19,471,919,113 ordinary shares (excluding treasury shares) par value US$0.25 per share, each with one vote and 12,706,252 preference shares par value £1 per share with two votes for every £5 in nominal capital held and the total number of voting rights in BP p.l.c. will be 19,477,001,613.

These new ordinary shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of US$0.25 each in BP p.l.c., including the right to receive dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue.

Note:

1 -     The issue price is based on the average US$/£ exchange rate over the agreed pricing period.

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