Shell plc Concludes Share Purchase Initiative
Shell plc has announced the successful completion of recent share purchases, which will be canceled as part of its ongoing buy-back program. This initiative aims to boost shareholder value by decreasing the total number of shares available in the market.
Overview of Share Purchases
Recent transactions included substantial share purchases across various trading platforms. Below are the consolidated details:
Summary of Share Transactions
The shares were acquired through both on-market and off-market transactions. The summary of these purchases includes the date, the number of shares acquired, the highest and lowest prices paid, as well as the average price per share.
Trading Venue Details
The following table provides specifics about the trades executed 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
On the same day, further shares were acquired 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
Overview of the Buy-Back Program
This share buy-back program is a strategic effort by Shell to manage its capital effectively, and it is overseen by Citigroup Global Markets Limited. The firm will independently handle trading decisions on behalf of Shell until the program concludes on its designated end date.
Program Parameters
Purchases will be made within established guidelines that align with the company’s general authority to repurchase shares. Shareholders have approved specific structures to ensure compliance and effective execution of the buy-back strategy.
Regulatory Compliance
The implementation of the buy-back program complies with Chapter 12 of the Listing Rules as well as the Market Abuse Regulation (EU MAR) and UK MAR. These regulations set forth the requirements for conducting share buy-backs in a transparent and ethical manner.
Trading Breakdown
To ensure clarity and compliance, a comprehensive breakdown of individual trades executed by Citigroup Global Markets is maintained and is available for review by stakeholders.
Contact Information
For any inquiries related to this announcement, please reach out to:
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 share buy-back program aims to enhance shareholder value by reducing the number of shares available in the market.
Who is responsible for managing the trading decisions for this program?
Citigroup Global Markets Limited independently manages the trading decisions for the buy-back program.
How does this buy-back program ensure regulatory compliance?
The program adheres to the regulations specified in Chapter 12 of the Listing Rules and the Market Abuse Regulations.
What are the conditions under which the shares are being purchased?
The shares are being purchased according to established parameters as part of both on-market and off-market trading strategies.
How can shareholders obtain more information?
Shareholders can reach out directly to the company through the provided media contacts for further details regarding the buy-back program.
