bp’s share capital is made up of ordinary shares of US$0.25 each, 8% cumulative preference shares of £1 each (‘First preference shares’), and 9% cumulative preference shares of £1 each (‘Second preference shares’).
The main underlying economic currency of the bp group’s cash flows is the US dollar. This is because bp’s major product, oil, is priced internationally in US dollars. Accordingly, to reflect the nature of our business and help investors to assess our performance better, our accounts are prepared in US dollars as the functional currency of bp and our ordinary shares are also denominated in US dollars.
The primary market for the company’s ordinary shares (trading symbol ‘BP.’), 8% cumulative first preferences shares (trading symbol ‘BP.A’) and 9% cumulative second preference shares (trading symbol ‘BP.B’) is the London Stock Exchange (LSE).
The company’s ordinary shares are a constituent element of the Financial Times Stock Exchange 100 Index.
In the US, the company’s securities are listed and traded on the New York Stock Exchange (NYSE) in the form of ADSs (trading symbol ‘BP’), for which JPMorgan Chase Bank, N.A. is the depositary (the Depositary) and transfer agent. The Depositary’s principal office is 383 Madison Avenue, Floor 11, New York, NY, 10179, US.
Each ADS represents six ordinary shares. ADSs are evidenced by American depositary receipts (ADRs), which may be issued in either certified or book entry form.
The company’s ordinary shares are also traded in the form of a global depositary certificate representing the company’s ordinary shares on the Frankfurt, Hamburg and Dusseldorf Stock Exchanges.
| BP Ordinary Share |
BP ADS |
|
|---|---|---|
| SEDOL |
798059 | 2142621 |
| SICOVAM |
966940 | 915667 |
| ISIN |
GB0007980591 | US0556221044 |
| Bloomberg symbol |
BP/ LN | BP US |
| Reuters |
BP.L | BP.N |
| Currency | GBP | USD |
| Par value |
25 cents | |
| Exchange listed |
London Frankfurt |
New York |
| Primary exchange |
London | New York |
BP p.l.c. (bp) has a global bearer certificate (Certificate) over c20 million* ordinary shares in bp (Shares) listed on the regulated markets of the Frankfurt, Düsseldorf, and Hamburg Stock Exchanges.
Applications to delist from the Düsseldorf and Hamburg Stock Exchanges were submitted on 11 April 2024. As at 18 April 2024, bp is awaiting an approval decision. Formal delisting from the Dusseldorf and Hamburg Stock Exchanges would be expected to take place 6-months following formal approval.
To delist from the Frankfurt Stock Exchange, bp announced in the German Federal Gazette on 18 April 2024 a request for co-owners in the Certificate (Rights-holders) to convert their co-ownership shares in the Certificate into bp Shares. This is on a voluntary basis within a maximum period of 12 months from publication of the Gazette notice (known as a ‘voluntary conversion period’).
A mandatory conversion will take place following expiry of the voluntary conversion period on 22 April 2025 at the latest, following which the Certificate is expected to be cancelled and trading in it will cease permanently.
Instructions for conversion will be distributed by Clearstream to the brokers and intermediaries of Rights-holders, who will subsequently contact Rights-holders with instructions. This process could take some time following the announcement in the Gazette on 18 April 2024. Please contact your relevant broker or intermediary in the first instance with any queries.