Shell plc Launches Share Buyback Initiative
Shell plc (the ‘Company’) has taken important steps in its ongoing share buyback initiative. Recently, the Company acquired a total of 802,094 shares for cancellation, which is part of its broader strategy to enhance shareholder value.
Overview of Shares Acquired
On 29 August, shares were acquired through various trading platforms, demonstrating the Company's dedication to effectively implementing its buyback strategy. Here’s a summary of the purchases:
Aggregated Trading Information
This section provides key details regarding the shares acquired on the specified date:
- **Date of purchase**: 29/08/2024
- **Number of Shares purchased**: 802,094
- **Highest price paid**: £27.1850
- **Lowest price paid**: £26.7600
- **Volume weighted average price paid per share**: £27.0116
- **Venue**: LSE
- **Currency**: GBP
Additional purchases on the same date also occurred on Chi-X and BATS, contributing to the overall share buyback efforts.
Structure and Authority of the Program
This buyback initiative is a crucial part of Shell's strategy and complies with the regulations established by the relevant authorities. Citigroup Global Markets Limited has been assigned to manage trading decisions related to these securities independently from the Company until a designated cut-off date.
On-Market and Off-Market Purchase Strategy
The execution of this program will take place in two separate phases: on-market and off-market purchases. The on-market phase will be conducted under specific pre-set parameters that align with the Company's general authority to repurchase shares on the open market. In contrast, the off-market phase will follow the guidelines outlined in the contract approved by shareholders.
Adherence to Regulatory Standards
In line with applicable regulations, Shell has ensured that the buyback program complies with both the EU MAR and UK MAR requirements. These regulations govern buy-back transactions, ensuring they are conducted transparently and fairly.
Trade Breakdown by Citigroup Global Markets Limited
A comprehensive breakdown of trades executed by Citigroup Global Markets Limited is available, highlighting the Company's commitment to transparency in its share acquisition practices.
Contact Information for the Company
For further inquiries, members of the media can reach out to:
Media International: +44 (0) 207 934 5550
Media Americas: +1 832 337 4335
LEI number of Shell plc: 21380068P1DRHMJ8KU70
Frequently Asked Questions
What is the purpose of Shell's share buyback program?
The share buyback program is designed to enhance shareholder value by reducing the total number of shares in circulation.
How many shares were acquired in the recent transaction?
On 29 August, a total of 802,094 shares were acquired.
Who is responsible for managing the trading decisions for the buyback?
Citigroup Global Markets Limited has been designated to make independent trading decisions throughout the program.
Which regulatory frameworks govern this buyback initiative?
The program operates under the EU MAR and UK MAR regulatory frameworks, ensuring compliance in share repurchase activities.
What impact does the buyback have on shareholders?
By decreasing the number of outstanding shares, the buyback is expected to enhance the value of the remaining shares held by shareholders.
