BP Annual Report and Form 20-F 2011 - Company Reporting

Notes on financial statements38. Called-up share capitalThe allotted, called up and fully paid share capital at 31 December was as follows:Sharesthousand2011 2010 2009SharesShares$ million thousand $ million thousand $ million8% cumulative first preference shares of £1 each a 7,233 12 7,233 12 7,233 129% cumulative second preference shares of £1 each a 5,473 9 5,473 9 5,473 921 21 21Ordinary shares of 25 cents eachAt 1 January 20,647,160 5,162 20,629,665 5,158 20,618,458 5,155Issue of new shares for the scrip dividend programme 165,601 41 – – – –Issue of new shares for employee share plans b 649 – 17,495 4 11,207 3At 31 December 20,813,410 5,203 20,647,160 5,162 20,629,665 5,1585,224 5,183 5,179aThe nominal amount of 8% cumulative first preference shares and 9% cumulative second preference shares that can be in issue at any time shall not exceed £10,000,000 for each class of preferenceshares.bThe nominal value of new shares issued for the employee share plans in 2011 amounted to $162,000. Consideration received relating to the issue of new shares for employee share plans amounted to$4 million (2010 $138 million and 2009 $84 million).Voting on substantive resolutions tabled at a general meeting is on a poll. On a poll, shareholders present in person or by proxy have two votes for every£5 in nominal amount of the first and second preference shares held and one vote for every ordinary share held. On a show-of-hands vote on otherresolutions (procedural matters) at a general meeting, shareholders present in person or by proxy have one vote each.In the event of the winding up of the company, preference shareholders would be entitled to a sum equal to the capital paid up on the preferenceshares, plus an amount in respect of accrued and unpaid dividends and a premium equal to the higher of (i) 10% of the capital paid up on the preferenceshares and (ii) the excess of the average market price of such shares on the London Stock Exchange during the previous six months over par value.Treasury sharesSharesthousand2011 2010 2009Nominal value Shares Nominal value Shares Nominal value$ million thousand $ million thousand $ millionAt 1 January 1,850,699 462 1,869,777 467 1,888,151 472Shares gifted to ESOPs – – – – (1,265) (1)Shares transferred to ESOPs at market price – – (7,125) (2) – –Shares re-issued for employee share plans (13,191) (3) (11,953) (3) (17,109) (4)At 31 December 1,837,508 459 1,850,699 462 1,869,777 467For each year presented, the balance at 1 January represents the maximum number of shares held in treasury during the year, representing 9.0% (20109.1% and 2009 9.2%) of the called-up ordinary share capital of the company.During 2011, the movement in treasury shares represented less than 0.1% (2010 less than 0.1% and 2009 less than 0.1%) of the ordinary sharecapital of the company.Financial statementsBP Annual Report and Form 20-F 2011 241