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DGAP-Adhoc: BP p.l.c.: Share Repurchases

eqs_en 
0 0 08.02.22
DGAP-Adhoc: BP p.l.c.: Share RepurchasesPhoto, wide shot, wide-angle lens, Coal company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.midjourneyapi.xyz/temp/2a011bdc-adca-4de9-8457-d868b31178cf.png
 

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.

----------------------

Share Repurchases

----------------------
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 [email protected] 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
Language: English
Company: BP p.l.c.
1 St James's Square
SW1Y 4PD London
United Kingdom
ISIN: GB0007980591
WKN: 850517
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1278203

 
End of Announcement DGAP News Service

1278203  08-Feb-2022 CET/CEST

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EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




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