Shell plc Reports Significant Share Purchase in September
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Shell plc Announces Share Purchase for Cancellation
Shell plc, a global leader in the energy sector, has recently updated the market regarding its ongoing share buy-back programme. The announcement detailed a substantial number of shares bought back for cancellation, reflecting the company's commitment to enhancing shareholder value.
Details of the Transaction
On a recent date in September, Shell purchased a total of 865,088 shares. A breakdown of the purchase reveals that these transactions occurred through various trading venues to ensure compliance and transparency in its operations.
Aggregated Share Purchase Summary
The Company provided aggregated information detailing the shares purchased, including various trading venues involved in the transactions:
- Date of Purchase: 10 September 2024
- Number of Shares Purchased: 865,088
- Highest Price Paid: £25.5300
- Lowest Price Paid: £25.0250
- Volume Weighted Average Price: £25.3126
- Trading Venue: LSE
- Currency: GBP
This marks an important step in the company's efforts to manage its capital structure effectively.
Understanding the Share Buy-Back Programme
The share buy-back initiative, first made public in early August, aims to bolster the company's share performance by reducing the total number of shares available in the market. By purchasing its own shares, Shell is not only expressing confidence in its business model but also working to provide enhanced returns to its shareholders.
Role of Citigroup Global Markets Limited
Citigroup Global Markets Limited is responsible for executing the trading decisions related to the buy-back. The firm operates independently to ensure that purchases are made strategically and within the pre-set parameters established for this initiative.
Comprehensive Approach to Share Repurchases
Shell's strategy encompasses both on-market and off-market transactions, conducted under a strict framework that adheres to regulations and market standards. The on-market limb of the programme operates under Shell's general authority to repurchase shares, facilitating a controlled approach to acquisitions.
Regulatory Compliance
All actions taken under this buy-back programme align with the UK Market Abuse Regulation (UK MAR) and chapter 12 of the Listing Rules, ensuring that every aspect of the programme is compliant with national and EU standards.
Trading Summary for Share Purchases
As part of the buy-back programme, several trades have already been executed, reflecting ongoing efforts to enhance shareholder returns while maintaining regulatory compliance. The details of these transactions showcase the meticulous planning and execution involved in Shell's operations.
Contact Information for Inquiries
For further information, stakeholders may reach out via the following contact numbers:
- Media International: +44 (0) 207 934 5550
- Media Americas: +1 832 337 4335
Additionally, Shell's Legal Entity Identifier (LEI) number is 21380068P1DRHMJ8KU70, which aids in further validation of company activities.
Frequently Asked Questions
What is the purpose of Shell's share buy-back programme?
The programme aims to enhance shareholder value by repurchasing shares, thus reducing the number of shares outstanding and supporting the stock price.
Which organization is managing the share buy-back transactions?
Citigroup Global Markets Limited has been appointed to handle the trading decisions for Shell's share buy-back programme.
What trading venues have been used for the share purchases?
Shell has utilized various venues, including the London Stock Exchange (LSE) and other platforms, to execute its share buy-back transactions.
How does the share buy-back programme operate?
The programme operates through predefined parameters and regulatory compliance to ensure proper execution of share repurchases.
How can shareholders inquire about the share buy-back programme?
Shareholders can contact Shell’s media relations team using the provided contact numbers for inquiries regarding the programme.
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