Shell plc Announces Share Purchase for Cancellation
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Shell plc's Latest Share Purchase Announcement
Shell plc has recently confirmed a notable transaction involving the purchase of shares for cancellation. This initiative reflects the company's ongoing commitment to enhancing shareholder value through its share buy-back program, first initiated on August 1, 2024.
Details of the Share Purchases
On a recent trading day, Shell completed the acquisition of 810,206 shares at a volume-weighted average price of £26.8938 per share on the London Stock Exchange (LSE). Furthermore, 788,590 shares were also acquired at an impressive volume-weighted average price of €32.2413 on the Euronext Amsterdam (XAMS). This calculated approach illustrates Shell's strategy to engage both on-market and off-market trading avenues for their stock repurchases.
Breakdown of Trading Activity
For clarity, here’s an overview of the trades executed under the buy-back program: the on-market trades adhered to predefined parameters, ensuring compliance with the Company’s authority to repurchase shares. The on-market limb allows for trading within set guidelines, while the off-market limb proceeds under a pre-approved share buyback contract with shareholders.
Collaboration with Citigroup Global Markets
Shell plc has appointed Citigroup Global Markets Limited to manage trading decisions pertaining to this share buy-back initiative, ensuring independent management from the company itself for the trading period running until October 25, 2024. This collaboration aims to optimize trading outcomes while maintaining transparency in operations.
Implications of the Buy-Back Program
The buy-back program underscores Shell’s proactive stance in managing its capital structure and represents a strong commitment to delivering value to its shareholders. The adherence to Chapter 12 of the Listing Rules and compliance with the Market Abuse Regulation (EU MAR) is a vital component of this initiative, ensuring all transactions are carried out transparently and responsibly. The UK MAR equivalents also come into play, post transition period adjustments.
Contact Information for Inquiries
For any queries regarding these transactions, interested parties can reach out to Shell's media relations teams. Media International can be contacted at +44 (0) 207 934 5550, while inquiries from across the Americas should call +1 832 337 4335. Additionally, the Legal Entity Identifier (LEI) number for Shell plc is 21380068P1DRHMJ8KU70.
Frequently Asked Questions
What is the recent share purchase by Shell plc for?
Shell plc's recent share purchase aims for cancellation, part of their ongoing share buy-back programme.
How many shares did Shell acquire in this transaction?
In total, Shell acquired 810,206 shares on the London Stock Exchange and 788,590 shares on Euronext Amsterdam.
What are the average prices paid per share in this purchase?
The volume-weighted average price paid per share on the LSE was £26.8938, while on Euronext Amsterdam, it was €32.2413.
Who is managing the trading decisions for the buy-back program?
Citigroup Global Markets Limited has been appointed to manage the trading decisions for Shell's share buy-back program.
Where can I find more information about Shell's buy-back program?
Information regarding the buy-back program is available through Shell's press releases and related communications.
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