Answers to common questions about managing your account Page | 7
should be more attractive to individual investors and liquidity improved. The 2-for-1 stock
split was effective from the start of business on Monday, October 4, 1999.
How has the 2-for-1 stock split affected my shareholding in the
company?
The number of ADSs that were registered in your name at the close of business on
Friday, October 1, 1999 was doubled. While it is not possible to isolate the effect of the
stock split on the price of BP ADSs from all the other factors affecting that price, it is
believed that the immediate effect of the 2-for-1 stock split reduced the price per share to
approximately one-half of that prevailing immediately before the stock split. This reduction
in price, when coupled with the doubling of your registered shares, will have left the value
of your shareholding approximately the same immediately after, as it had been
immediately before, the stock split.
I hold some of my shares in certificated form, what should I do
with my existing ADS certificate(s)?
Your existing ADS certificate(s) remains valid and should be kept in a safe place. Any
certificates you may have received represent the additional ADSs issued to you as a
result of the 2-for-1 stock split. We would like to remind you that at any time you can send
your certificates via registered mail to US BP Shareholder Services and request your
account be converted to book-entry form. Book-entry is the most secure and efficient form
of ownership. Please contact US BP Shareholder Services using the above details 5672 if
you should have any questions about book-entry ownership.
I hold all of my shares in book-entry form. Why did I not receive
a certificate for the shares issued as a result of the 2-for-1 stock
split?
Because some, if not all, of your ADSs are held in book-entry form, the safest and most
cost effective way for us to deliver the additional ADSs resulting from the split was to
credit your book-entry account. A statement confirming the additional split shares was
mailed to each book-entry holder. You may contact US BP Shareholder Services, if you
did not receive a statement or wish to obtain a duplicate statement or a certificate for
some or all of your ADSs.
Did the 2-for-1 stock split affect the payment of my dividends?
No. While the stock split will result in a halving of what would otherwise have been the
dividend rate per share, your aggregate dividend remained the same as it otherwise
would have been because your shareholding has doubled.