Shareholder requisitioned resolutions (FAQs)
Investors’ rights to requisition a resolutionThere are occasions when BP’s investors may wish to draw important matters to the attention of other investors by proposing a resolution to be put to BP’s annual general meeting (AGM). The procedure for requisitioning such a resolution is governed by English common law and statute. Investors wishing to requisition a resolution may find the following information helpful. However, they should always seek their own independent legal advice on these matters.
The costs of circulating a resolution for the 2013 AGM will be borne by BP so long as a compliant requisition for the resolution is received on or before 21 January 2013. For resolutions received after this date, BP will require the deposit or tender of a sum sufficient to meet the company’s reasonable circulation and other expenses. The legal deadline for lodging a requisition is 6 weeks before the AGM (which is by the close of 27 February 2013, assuming that BP’s AGM is held, as currently planned, on 11 April 2013).
The following information includes sample forms which requisitionists may wish to use when providing the necessary information to BP in support of their requisition. You do not need to use these forms to provide the relevant information, but please note that BP is not required to accept a requisition unless all the required information has been provided.
Organizing investor support for a requisitioned resolution can be a complex process (particularly in the case of indirect investors and ADS holders). It is recommended that you start the process early including contacting BP if you need assistance. BP is under no obligation to accept a requisition which does not comply with legal requirements.