Shell plc confirms share purchases for cancellation
Shell plc has updated the market on its ongoing share buy-back programme, confirming a new batch of shares bought for cancellation. The update outlines the size, prices, and venue of the latest purchases and reiterates the company’s focus on reducing the number of shares in issue while maintaining a disciplined approach to execution and compliance.
Details of the transaction
On 10 September 2024, Shell purchased 865,088 of its own shares for cancellation. The trades were placed across trading venues in line with the programme’s parameters, with execution structured to preserve transparency and meet regulatory expectations.
Aggregated share purchase summary
Shell provided the following aggregated information for the day’s activity, including the pricing and venue of the purchases:
- 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 activity forms part of Shell’s ongoing work to manage its capital structure in a measured and transparent way.
Understanding the share buy-back programme
The buy-back, first made public in early August, is designed to reduce the total number of shares available in the market. By purchasing shares for cancellation, Shell signals confidence in its business and seeks to support shareholder value over time.
Role of Citigroup Global Markets Limited
Citigroup Global Markets Limited executes the trading decisions for the buy-back. The firm operates independently within pre-set parameters, helping ensure orders are placed strategically and in keeping with the framework established for the programme.
A comprehensive approach to repurchases
The programme allows for both on-market and off-market transactions under a strict framework that aligns with relevant regulations and market standards. The on-market limb operates under Shell’s general authority to repurchase shares, enabling a controlled approach to timing and sizing.
Regulatory compliance
All purchases under the programme are carried out in accordance with the UK Market Abuse Regulation (UK MAR) and chapter 12 of the Listing Rules, ensuring the activity remains compliant with applicable UK and EU standards.
Trading summary for share purchases
Multiple trades have been executed as part of the buy-back, reflecting ongoing progress under the programme while adhering to the defined parameters. The results disclosed above show the day’s volumes and prices and illustrate the methodical way Shell is conducting the repurchases.
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
Shell’s Legal Entity Identifier (LEI) is 21380068P1DRHMJ8KU70.
Frequently Asked Questions
What did Shell announce?
Shell reported progress under its ongoing share buy-back programme, including the purchase of 865,088 shares on 10 September 2024 for cancellation. The trades were executed on the LSE in GBP, with a volume weighted average price of £25.3126 and a price range from £25.0250 to £25.5300.
Why is Shell conducting a buy-back?
The programme is intended to enhance shareholder value by reducing the number of shares outstanding. Buying back shares for cancellation helps manage the company’s capital structure and reflects confidence in its business.
When was the programme made public?
The buy-back was first made public in early August. The disclosed activity on 10 September 2024 is one part of that ongoing programme.
Who executes the trades, and under what rules?
Citigroup Global Markets Limited makes the trading decisions for the buy-back within pre-set parameters. All purchases are carried out in line with the UK Market Abuse Regulation (UK MAR) and chapter 12 of the Listing Rules.
How can I request more information?
You can contact Shell’s media relations teams using the published numbers: Media International at +44 (0) 207 934 5550 or Media Americas at +1 832 337 4335. Shell’s LEI is 21380068P1DRHMJ8KU70.
