RNS Number : 1740C
BP PLC
06 February 2024
 

BP p.l.c.

 

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

 

Share Repurchases

 

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

6 February 2024

 

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 2023 as announced by the Company on 6 February 2024.

 

The maximum amount allocated to the Programme is around $1.75 billion for a period up to and including 3 May 2024.   

 

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 2023 Annual General Meeting and any further approvals to repurchase shares as may be granted by its shareholders from time to time, 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 29 and 39 of the Company's earlier fourth quarter 2023 financial results announcement on 6 February 2024 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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
POSSSESAMELSEIE
Bp (LSE:BP.)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Bp Charts.
Bp (LSE:BP.)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Bp Charts.