Shell plc Announces Share Buy-Back Transactions
Shell plc Announces Share Buy-Back Transactions
Transaction in Own Shares
Shell plc (the ‘Company’) announces the recent purchase of shares for cancellation as part of its ongoing share buy-back programme.
Overview of Recent Transactions
Shell plc completed a series of share purchases aimed at enhancing shareholder value. These transactions were executed under the existing buy-back programme initially communicated on 1 August 2024. The aggregated information revealed that on 26 August 2024, multiple shares were procured through various trading venues.
Details of Share Purchases
The specifics of the share purchases, broken down by trading venue, are summarized as follows:
- Date of Purchase: 26/08/2024
- Number of Shares Purchased: 777,288
- Highest Price Paid: €32.8700
- Lowest Price Paid: €32.3250
- Average Price Paid Per Share: €32.6124
- Venue: XAMS
- Currency: EUR
Transactions also took place across other platforms, including Chi-X, BATS, CBOE DXE, and TQEX, reflecting strategic market engagement and liquidity management by Shell plc.
Execution of the Buy-Back Programme
In accordance with the company's strategy, Citigroup Global Markets Limited has been entrusted with executing trading decisions concerning the share purchases. This operational phase commenced on 1 August 2024, with decisions made independently by Citigroup up to 25 October 2024. This arrangement allows Shell plc to maintain a proactive approach to share repurchases while adhering to established regulations.
On-Market and Off-Market Activities
The buy-back programme operates through both on-market and off-market transactions. The on-market limb adheres to pre-set parameters in compliance with the general authority provided for repurchasing shares. Conversely, the off-market limb occurs following the approved buyback contract parameters outlined by the shareholders. All activities are strictly aligned with Chapter 12 of the Listing Rules and comply with relevant EU and UK Market Abuse Regulations.
Compliance and Regulatory Framework
The ongoing share buy-back transactions align with the legislation governing market conduct and practices. Adherence to EU Market Abuse Regulation (596/2014/EU) and its UK equivalent ensures transparent transaction reporting and compliance with market operations. A comprehensive breakdown of all trades executed by Citigroup Global Markets Limited on behalf of Shell plc is available in accordance with these regulations, ensuring thorough documentation and accountability.
Contact Information for Inquiries
Shell plc encourages any inquiries regarding this share buy-back programme to be directed to the media contacts:
- Media International: +44 (0) 207 934 5550
- Media Americas: +1 832 337 4335
Additionally, Shell plc's LEI number is 21380068P1DRHMJ8KU70, confirming its identity in transactions.
Frequently Asked Questions
What is the purpose of Shell's share buy-back programme?
The purpose of Shell's share buy-back programme is to return value to shareholders by strategically purchasing shares to reduce the total number in circulation.
Who is responsible for managing Shell's share buy-back transactions?
Citigroup Global Markets Limited is responsible for making trading decisions regarding the share purchases on behalf of Shell plc.
How do the share purchases align with regulatory requirements?
Shell’s buy-back activities are conducted in compliance with EU Market Abuse Regulations and UK laws, ensuring fairness and transparency in the market.
What information is available from the recent transactions?
Recent transactions detail the volume and pricing of shares purchased, including the venues and dates, providing insight into the buy-back activities.
How can I contact Shell for more information?
For inquiries regarding the share buy-back programme, you can contact Shell’s media representatives directly using the provided phone numbers.
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