The business of the meeting comprises resolutions that we regularly bring to shareholders. We have appointed two new directors during the year, and they are standing for formal election. We look forward to introducing them to the meeting.
The remuneration report is once again presented showing implementation of the remuneration policy approved by shareholders in 2014. The policy has a duration of three years and we will be bringing a new policy to the next AGM in 2017.
The board is recommending shareholders support all 21 resolutions before the meeting.
The number of shareholders who hold their shares through brokers and nominees continues to grow. As those shareholders’ names do not appear on our register, additional documentation is required for them to attend the AGM. Details can be found in the notes and also at bp.com/corprep.
BP regularly reviews ways to improve communication with shareholders and make it more efficient. For some years now we have been using web communication for the majority of shareholders to invite them to view corporate materials online.
From 2017 we will no longer send paper proxy cards to shareholders unless specifically requested to do so. We will be contacting all shareholders soon to offer the opportunity to opt in for paper proxy cards in the future.
Online voting is quicker and more secure than paper votes, and saves BP time and resources in processing the vote. If you have not already done so, I ask you to visit the BP Share Centre at mybpshares.com and provide an email address for future communications.
Your votes do matter. Information about how to vote and attend the meeting is given on pages 14-19 of this notice. If you cannot attend the meeting, please vote your shares by appointing a proxy.
I look forward to seeing you at ExCeL.