Share Repurchase Programme

RNS Number : 6147D

BP PLC

31 March 2014

 



BP p.l.c. Share Repurchase Programme

In continuation of the share repurchase programme that BP p.l.c. (the "Company") announced on 22 March 2013, the Company has today entered into a repurchase mandate agreement with an independent third party to follow the expiry of the repurchase mandate agreement previously entered into and announced in respect of the period of 5 February 2014 to 31 March 2014. 

Under the repurchase mandate agreement entered into today, the independent third party will manage the share repurchase programme for the period of 1 April 2014 to 29 April 2014, which will run through the Company's first quarter 2014 results close period. The close period commences at the close of business on 31 March 2014 and ceases following the release of the Company's first quarter results announcement on 29 April 2014.

The independent third party will make its trading decision in relation to the purchase of the Company's securities independently of, and uninfluenced by the Company. On purchase, the Company's shares will be cancelled.

The purpose of the share buy-back programme is to reduce the Company's issued share capital.

Any purchases will be effected within certain pre-set parameters and in accordance with the Company's general authority to repurchase shares granted by its shareholders at the Company's 2013 Annual General Meeting and Chapter 12 of the Listing Rules.

Further enquiries:

Jessica Mitchell           [phone]

 

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