Share Repurchase Programme

RNS Number : 9757Q

BP PLC

05 September 2014

 



BP p.l.c. Share Repurchases

BP p.l.c. (the "Company") announces it has today entered into a repurchase mandate agreement with an independent third party to terminate and replace the repurchase mandate agreement entered into and announced on 31 July 2014. 

Under the repurchase mandate agreement entered into today, the independent third party will manage the share repurchases for the remaining period of the replaced repurchase mandate agreement through to 12 September 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 the purchase, the Company's shares will be cancelled.  

The purpose of the share buy-backs 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 2014 Annual General Meeting and Chapter 12 of the Listing Rules.

 

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