Shell plc Announces Significant Share Buy-Back Program Update

Shell plc Updates Share Buy-Back Program

Shell plc, a leading energy company, recently disclosed its plans to buy back shares as a part of its ongoing effort to enhance shareholder value. On a designated date, the company proceeded with purchasing shares aimed at cancellation, further supporting its strategic financial initiatives.

Details of the Recent Share Transaction

On October 4, 2024, Shell plc executed a series of transactions involving a substantial number of shares. The purchases made for cancellation included a total of 650,000 shares at a highest price of £25.8950 and a lowest price of £25.6100, resulting in a volume-weighted average price of £25.7747 on the London Stock Exchange (LSE), indicating strong market interest.

Additional Purchases and Trading Venues

Moreover, other transactions conducted on the same day reported the purchase of 800,000 shares on the Euronext Amsterdam (XAMS) exchange at an average price of €31.1141. These transactions reflect Shell's proactive approach in managing its share capital.

Implications of the Buy-Back Program

These share repurchases form a vital part of the company’s broader share buy-back program that was initially announced earlier in the year. This initiative is designed to optimize capital structure and enhance earnings per share, which directly benefits shareholders. Shell’s commitment to repurchasing shares conveys confidence in its ongoing operational performance and profitability.

Independent Trading Decisions

For this buy-back initiative, Shell has appointed Citigroup Global Markets Limited to undertake trading decisions independently of the company from August 1, 2024, to October 25, 2024. This independence is set up to ensure that trading aligns with the best interests of the shareholders while adhering to regulatory frameworks.

Compliance with Regulatory Frameworks

The conduct of the share buy-back program complies with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation. This adherence to regulatory guidelines ensures transparency and protects the interests of shareholders in maintaining their investment value amidst market fluctuations.

Detailed Trading Breakdown

Shell continues to provide detailed breakdowns of trades made under this buy-back program in compliance with both EU MAR and UK MAR. Ensuring transparency, these updates will be crucial for informing stakeholders about the progress and impacts of the buyback on the company’s overall stock performance.

Company Contact Information

For media inquiries, Shell has established contact channels: The Media International team can be reached at +44 (0) 207 934 5550, while Media Americas can be contacted at +1 832 337 4335. Additionally, shareholders may reference the company’s LEI number: 21380068P1DRHMJ8KU70 for any further inquiries related to the buy-back program and its implications.

Frequently Asked Questions

What is the purpose of Shell's buy-back program?

The buy-back program aims to enhance shareholder value and optimize the company's capital structure.

How many shares did Shell purchase in the recent transaction?

Shell purchased a total of 650,000 shares for cancellation.

Who is managing the trading decisions for the buy-back program?

Citigroup Global Markets Limited has been appointed to make independent trading decisions for the program.

When was the share buy-back program initially announced?

The share buy-back program was first announced on August 1, 2024.

Which exchanges are involved in the share repurchases?

The transactions involved trading on the LSE and XAMS, among possibly other venues.

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