In continuation of the share repurchase program announced on March 22, BP Plc (NYSE: BP) entered into a fourth 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 June 17 to July 29.
Under the repurchase mandate agreement entered into on July 30, the independent third party will manage the share repurchase program for the period July 30 to Sept. 13 and 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.
As previously announced, the purpose of the share buyback program is to reduce the company's issued share capital.
Any purchases will be affected 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.
BP has purchased for cancellation the following number of ordinary shares of US $0.25 cents each:
Date of purchase | July 29 |
Number of ordinary shares purchased | 2,787,585 |
Highest price paid per share (pence) | 473.50 |
Lowest price paid per share (pence) | 466.55 |
BP Plc is headquartered in London.
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