Shell plc reports recurring developments for an integrated energy group with American depositary shares that each represent two ordinary shares. Company news commonly covers operating and financial results across Integrated Gas, Upstream, Marketing, and Chemicals and Products, including LNG, production, trading and optimisation, refining, and chemicals activities.
Other updates focus on shareholder distributions and capital management, including interim dividends, share buyback programmes, purchases of ordinary shares for cancellation, and related Market Abuse Regulation disclosures. Shell also publishes governance and ownership notices, including annual meeting materials, director and PDMR shareholding notifications, and financial statements from Shell International Finance B.V.
BG Energy Capital plc has announced Consent Solicitations for its outstanding Notes, allowing eligible holders to approve amendments to the terms of certain series. The proposed changes include substituting Shell plc as the guarantor, appointing Deutsche Trustee Company Limited as the successor trustee, and aligning specific provisions with Shell’s existing debt securities documentation. The Consent Solicitation will run from November 28, 2022, until 4:00 p.m. London time on December 15, 2022. Noteholders are encouraged to read the detailed Consent Solicitation Memorandum for full terms.
Shell plc announced the purchase of 1,500,000 shares on November 11, 2022, as part of its ongoing share buy-back program initiated on October 27, 2022. The highest price paid per share was £23.72, while the lowest was £22.94, with a volume-weighted average price of £23.52. Additional purchases include 499,099 shares and 1,999,553 shares in different trading venues, following compliance with EU MAR and UK MAR regulations. Goldman Sachs International will manage these purchases independently until January 27, 2023.
The press release dated 11 November 2022 announces the publication of the Prospectus Supplement and Shell plc's unaudited interim financial report for the nine months ended 30 September 2022. The documents must be viewed alongside the Information Memorandum from 26 September 2022. Investors are directed to specific URLs for detailed financial insights. The release emphasizes that the information is not intended for U.S. persons and advises readers to verify eligibility before accessing the information.
Shell plc announces the appointment of Catherine J. Hughes as a Non-executive Director on the Board of Valaris Limited (NYSE: VAL) effective November 9, 2022.
This declaration complies with Listing Rule 9.6.14R(2), highlighting regulatory adherence in corporate governance.
Shell plc has announced that Wael Sawan, the Integrated Gas, Renewables and Energy Solutions Director, received 9,386 shares as part of his compensation. This award represents 50% of his annual bonus and was granted on October 28, 2022, with shares priced at €28.125 each. The shares have a mandatory three-year holding period that applies even after the PDMR leaves the company. This disclosure complies with the EU Market Abuse Regulation. Detailed information regarding Shell's Directors’ Remuneration Policy is accessible via their annual report.
Shell plc announces its total voting rights as of October 31, 2022. The company has a capital consisting of 7,110,291,093 ordinary shares of €0.07 each, with no shares held in Treasury.
Shareholders can utilize this figure to calculate their notification obligations under the FCA's Disclosure Guidance and Transparency Rules. Notably, this count includes shares bought back by Shell that are yet to be canceled.
Shell's outgoing CEO Ben van Beurden will step down on December 31, 2022. A typographical error corrected in the previous announcement clarifies that he will serve as an adviser until June 30, 2023. His separation agreement includes a GBP 1,420,000 payment for loss of office, with additional bonuses and LTIP awards based on performance criteria. He retains a post-employment shareholding requirement of 700% of salary until July 1, 2025. All updates will be detailed in the 2023 Remuneration Report.
Ben van Beurden is set to step down as CEO and Director of Shell on 31 December 2022. He will serve as an advisor until 30 June 2023. His remuneration includes a gross payment of GBP 1,420,000 for loss of office, phased in six installments. Additionally, he will continue to receive his salary and pension allowance until June 2023. A pro-rated bonus for 2023 will be awarded post-departure, with 50% delivered in shares under a holding period. No new Long-term Incentive Plan awards will be made for 2023.
Shell plc announced the purchase of 998,560 shares for cancellation on October 27, 2022. The shares were bought on various trading venues, with the highest price at £24.35 and the lowest at £23.15, resulting in a volume weighted average price of £24.097. This transaction is part of an existing share buy-back program, managed by Goldman Sachs International, which will operate from October 27, 2022 to January 27, 2023. The program adheres to EU and UK regulations on share repurchases.
Shell plc announced the timetable for its 2023 interim dividends, with four quarterly payments scheduled. Key dates include:
- 4th Quarter 2022: Payment on 27-Mar-23
- 1st Quarter 2023: Payment on 26-Jun-23
- 2nd Quarter 2023: Payment on 18-Sep-23
- 3rd Quarter 2023: Payment on 20-Dec-23.
The ex-dividend dates for both American Depositary Shares and ordinary shares are set for 16-Feb-23, 18-May-23, 10-Aug-23, and 16-Nov-23.
For more details, visit www.shell.com/dividend.