BT's listings

BT's ordinary shares are listed on the London Stock Exchange with ticker "BT.A".

BT shares were also listed on the New York Stock Exchange in the form of  American Depositary Shares (ADSs) up until 13 September 2019. BT subsequently terminated its American Depositary Receipt (ADR) programme on 23 September, and intends to file a Form 15F with the SEC to deregister its equity securities at the earliest possible date, following the minimum 12 month waiting period from the date of ADR termination, in order to reduce reporting costs and complexity. 

Public offers of BT shares

The instalments for the three public offers of BT's shares by the Government were as follows:

BT1 instalments
28 November 1984 50p
24 June 1985 40p
09 April 1986 40p
Total £1.30

Incentives:

Either telephone bill vouchers valued at £18 each subject to a maximum of 12 vouchers, or a share bonus on a 1:10 basis issued on 30 November 1987 (for capital gains tax purposes valued at £2.04 per share).

First day of dealing: 3 December 1984

BT2 instalments UK offer instalments Int'l offer
04 December 1991 £1.10 £1.25
07 July 1992 £1.20 £1.20
02 March 1993 £1.05 £1.05
Total £3.35 £3.50

Incentives:

Either an instalment discount on the second and third instalments of 15 pence per share, subject to a maximum of 1000 shares, Or a share bonus on a 1:10 basis issued on 31 December 1994, subject to a maximum of 150 free shares (for capital gains tax purposes valued at £3.76 per share).

First day of dealing: 9 December 1991

BT3 instalments UK offer instalments Int'l offer
14 July 1993 £1.50 £1.60
01 March 1994 £1.40 £1.40
11 October 1994 £1.20 £1.20
Total £4.10 £4.20

Incentives:

Either an instalment discount of 10 pence per share on the second and third instalments, subject to a maximum of 1000 shares, or a share bonus on a 1:15 basis issued on 31 July 1996 (for capital gains tax purposes valued at (£3.60 per share).

First day of dealing: 18 July 1993

Rights issue

A rights issue of new shares in British Telecommunications plc to existing shareholders was announced on 10 May 2001.  A rights issue is a way of raising money by issuing new shares, and giving existing shareholders a right of first refusal. New shares are typically offered at a discount to the current share price. BT's rights issue was 3 for 10 - shareholders were entitled to 3 new shares for every 10 existing shares held. The offer price for the new shares was 300p per share.

BT's rights issue was well received - 89.5% of the new shares were taken up by existing BT shareholders. The remaining shares were sold in an international tender offer, which resulted in bids ranging from 400p-445p. The rights issue raised £5.9bn for the group. BT shares were 568.5p the day the 3-for-10 issue was announced in May. Following the completion of the rights issue, on Tuesday June 19, the shares were 435.5p. The discounted price of the  shares post rights issue reflected the dilution from the new shares issued.

Demerger of mmO2

On 19 November 2001, BT completed the demerger of mmO2, comprising what were BT's wholly-owned mobile assets in Europe: O2 UK (formerly known as BT Cellnet), O2 Communications (Ireland) (formerly known as Esat Digifone), Telfort Mobiel, Viag Interkom, Manx Telecom and Genie.

The confirmed official opening prices for BT Group and O2 (mmO2) shares for capital gains tax ('CGT') purposes, were 285.75 pence and 82.75 pence respectively. This means that, of the total value of 368.50 pence, 77.544% is attributable to BT Group and 22.456% to O2 (mmO2).

Accordingly, for CGT calculations, the base cost of your BT Group shares is calculated by multiplying the acquisition cost of your BT shareholding by 77.544%, and the base cost of your O2 (mmO2) shares is calculated by multiplying the acquisition cost of your BT shareholding by 22.456%.

Since May 2008, ProSearch has been acting for Telefónica S.A. to help the remaining dissenting shareholders claim any cash entitlements that they may be due from the purchase of O2 plc in May 2006.

ProSearch is designed to make the process of claiming any entitlements as easy as possible and it is entirely up to you if you wish to use the service. If you do use ProSearch to claim your O2 plc cash entitlement then please note that an administration fee will be payable.

If you choose to use the services of ProSearch in respect of your 02 plc shares, it will not affect any BT Group plc shares you may hold.

ProSearch is part of the Equiniti Limited group of companies.

EE Acquisition

In connection with the acquisition of EE Limited, on 29 January 2016 BT Group plc issued and allotted a total of 1,594,900,429 new ordinary shares (the Consideration Shares) to T-Mobile Holdings Limited and Orange Telecommunications Group Limited (the Sellers) as part of the consideration for the purchase of EE Limited from the Sellers. Because the number of Consideration Shares was greater than 10% of BT’s issued share capital, BT was required to prepare and publish a prospectus in accordance with the Prospectus Rules of the UK Financial Conduct Authority. This prospectus is dated 26 January 2016.

The distribution of the prospectus in certain jurisdictions may be restricted by law and therefore persons into whose possession the prospectus comes should inform themselves about and observe any such restrictions in relation to the Consideration Shares or the prospectus. The prospectus does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities or any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities by any person in any circumstances in which such offer or solicitation is unlawful.

ADR delisting and termination

BT delisted its American Depositary Shares and terminated its American Depositary Receipt programme on 13 and 23 September 2019, respectively. This was in line with its announcement on 14 August 2019 of its intention to deregister its equity securities and the registered debt securities of its subsidiary, British Telecommunications plc, in order to reduce reporting costs and complexity. BT remains committed to its US investor base and to customers and colleagues in the US, and to maintaining the highest standards of corporate governance and transparent financial reporting.