Shell plc Completes Share Purchase Initiative
Shell plc announces the recent purchases of shares which are set for cancellation as part of its ongoing buy-back program. This initiative is designed to enhance shareholder value by reducing the number of shares in circulation.
Details of the Share Purchases
Recent transactions involved significant purchases made on various trading venues. Below are the aggregated details:
Summary of Share Transactions
The shares were acquired through both on-market and off-market transactions. The summary of the purchases includes the date, number of shares purchased, highest and lowest prices paid, and the average price per share.
Trading Venue Information
The following table outlines the specifics of the trades made on 22 August 2024:
Transaction Data
Date of purchase: 22/08/2024
Number of shares purchased: 811,882
Highest price paid: £27.1000
Lowest price paid: £26.8850
Volume weighted average price: £27.0078
Trading venue: LSE
Currency: GBP
Additional Share Purchases
Further purchases on the same day include shares bought in other markets:
Shares purchased: 790,480
Highest price paid: €32.1400
Lowest price paid: €31.9250
Volume weighted average price: €32.0497
Trading venue: XAMS
Currency: EUR
Buy-Back Program Overview
This share buy-back program is part of Shell's strategic move to manage its capital effectively and is directed by Citigroup Global Markets Limited. The firm will handle trading decisions independently on behalf of Shell until the program’s designated end date.
Parameters of the Program
Purchases will occur within preset guidelines and are aligned with the company’s general authority to repurchase shares. Specific structures have been approved by shareholders to ensure compliance and effective execution of the buy-back plan.
Regulatory Compliance
The execution of the buy-back program adheres to Chapter 12 of the Listing Rules and the Market Abuse Regulation (EU MAR) and UK MAR. These regulations dictate the prerequisites for conducting share buy-backs transparently and ethically.
Trading Breakdown
For clarity and compliance, a detailed breakdown of individual trades executed by Citigroup Global Markets is maintained and can be reviewed by stakeholders.
Contact Information
For inquiries related to this announcement, please contact:
Media International: +44 (0) 207 934 5550
Media Americas: +1 832 337 4335
Frequently Asked Questions
What is the purpose of the share buy-back program?
The purpose of the share buy-back program is to return value to shareholders by reducing the number of shares available in the market.
Who manages the trading decisions for this program?
Trading decisions for the buy-back program are made independently by Citigroup Global Markets Limited.
How does this buy-back program comply with regulations?
The program complies with specific regulations outlined in Chapter 12 of the Listing Rules and the Market Abuse Regulations.
What are the terms of the shares being purchased?
The shares are being purchased within preset parameters as part of both on- and off-market trading strategies.
How can shareholders get more information?
Shareholders can contact the company directly through the provided media contacts for detailed inquiries regarding the buy-back program.
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