Share Repurchase Programme

RNS Number : 8793S

BP PLC

29 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 following the expiry of the repurchase mandate agreement previously entered into and announced in respect of the period of 22 September 2014 to 26 September 2014. 

Under the repurchase mandate agreement entered into today, the independent third party will manage the share repurchases for the period of 29 September 2014 to 28 October 2014, which will run through the Company's third quarter 2014 results close period. The close period commences at the close of business on 30 September 2014 and ceases following the release of the Company's third quarter 2014 results announcement on 28 October 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 repurchases 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.

Further enquiries:

Jessica Mitchell           [phone]

 

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