BP P.L.C. (FRA:BP/) BP p.l.c.: Share Repurchases
Transparency directive : regulatory news
08/02/2022 20:55
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DGAP-Ad-hoc: BP p.l.c. / Key word(s): Share Buyback
BP p.l.c.: Share Repurchases
08-Feb-2022 / 20:55 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
BP p.l.c.
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Share Repurchases
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8 February 2022
BP p.l.c. (the "Company") announces that it is to commence a share buyback programme to repurchase ordinary shares in the capital of the Company (the "Programme").
The purpose of the Programme is to reduce the issued share capital of the Company towards distributing 60% of surplus cash flow[1] generated in 2021 after having reached its net debt target of $35 billion as announced by the Company on 27th April 2021, 3rd August 2021, 2nd November 2021 and 8th February 2022.
The maximum amount allocated to the Programme is around $1.5 billion for a period up to and including 29 April 2022.
The Programme will be carried out on the London Stock Exchange and/or Cboe (UK) and will be effected within certain pre-set parameters.
Any purchases of ordinary shares by the Company in relation to this announcement will be conducted in accordance with the Company's general authority to repurchase shares granted by its shareholders at the Company's 2021 Annual General Meeting, the Market Abuse Regulation 596/2014 as it forms part of domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018 (as amended) and Chapter 12 of the Listing Rules.
Further enquiries:
bp Investor Relations +44(0) 207 496 4000
[1] Surplus cash flow is a non-GAAP measure and refers to the net surplus of sources of cash over uses of cash. See pages 31 and 39 of the Company's earlier announcement on 8 February 2022 for further details.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
08-Feb-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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| Language: |
English |
| Company: |
BP p.l.c. |
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1 St James's Square |
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SW1Y 4PD London |
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United Kingdom |
| ISIN: |
GB0007980591 |
| WKN: |
850517 |
| Listed: |
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: |
1278203 |
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| End of Announcement |
DGAP News Service |
1278203 08-Feb-2022 CET/CEST
