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.
Shell plc informs that as of September 26, 2022, it has 7,194,587,068 ordinary shares outstanding, each with a nominal value of €0.07. The company does not hold any treasury shares. This figure serves as the denominator for shareholders to notify changes in their interest under the FCA's Disclosure Guidance and Transparency Rules. This announcement complies with the relevant transparency regulations.
Shell plc reported managerial transactions involving Wael Sawan, the Integrated Gas, Renewables and Energy Solutions Director. On September 22, 2022, Sawan disposed of 19,384 ordinary shares at €26.605 each, totaling €515,711.32. Additionally, he sold 4,750 American Depository Shares (SHEL) at $53.08, amounting to $252,130. These transactions were notified in compliance with the EU and UK market abuse regulations.
TechnipFMC (NYSE: FTI) has secured a significant engineering, procurement, construction, and installation (EPCI) contract from Shell plc (NYSE: SHEL) for the Jackdaw development in the UK North Sea. The contract involves a 30-kilometer tieback utilizing advanced pipe-in-pipe technology, designed for high-pressure and high-temperature conditions. This project reflects TechnipFMC's capabilities in subsea engineering and construction. The contract value falls between $75 million and $250 million, underscoring its financial significance to the company.
Shell CEO Ben van Beurden to retire, Wael Sawan appointed as successor
On September 15, 2022, Shell announced that CEO Ben van Beurden will step down at the end of 2022, with Wael Sawan taking over as CEO effective January 1, 2023. Sawan, previously the Director Integrated Gas, brings extensive experience within Shell. Under van Beurden's leadership, Shell has made significant strides toward becoming a net-zero emissions energy business by 2050, maintaining a strong financial position. Ben will remain as an adviser until June 30, 2023, after which he will leave the company.
Shell plc announced a share buyback on 13 September 2022, purchasing 1,057,231 shares for cancellation. The highest price paid per share was £23.4500 and the lowest was £23.0800, with a volume-weighted average price of £23.2893. The buyback is part of an existing program announced on 28 July 2022, executed by Citigroup Global Markets Limited independently until 21 October 2022. The program adheres to the UK Market Abuse Regulation and other relevant regulations.
On September 12, 2022, Shell announced a delay in the payment of its second quarter 2022 interim dividend from September 19 to September 20, due to a bank holiday in the UK for Queen Elizabeth II’s State Funeral. This adjustment applies to dividend payments across all currencies: pound Sterling, euro, and US dollar for ordinary shares, as well as US dollars for American Depositary Shares. Shell advised shareholders to note this change to avoid confusion.
The Board of Shell plc announced its second quarter 2022 interim dividend of US$0.25 per ordinary share, with payment scheduled for September 19, 2022. Shareholders can opt to receive dividends in US dollars, euros, or pounds sterling. For elections submitted by August 26, 2022, the corresponding amounts are €0.2499 or 21.57p per share. Additionally, dividends will not incur Dutch withholding tax as Shell's tax residency has shifted to the UK.
Shell plc has reported its total capital as of August 31, 2022, comprising 7,269,806,620 ordinary shares with a nominal value of €0.07 each. Importantly, Shell holds no treasury shares. The reported figure may be utilized by shareholders to calculate their notification thresholds under the FCA's Disclosure Guidance and Transparency Rules. This announcement follows compliance with the rules established for transparency in shareholder interests.
Shell plc announced the purchase of 1,657,477 shares for cancellation on 17 August 2022 as part of its ongoing share buy-back program initiated on 28 July 2022. The highest purchase price per share was £21.9700 and the lowest was £21.5600, with a volume-weighted average price of £21.7274. Additional purchases included 494,353 shares and 1,800,000 shares at various prices. The program adheres to UK MAR regulations and involves independent trading decisions by Citigroup Global Markets Limited until 21 October 2022.
Shell plc announced the purchase of 1,800,000 shares for cancellation on 16 August 2022. The shares were acquired at a volume-weighted average price of £21.8597 through the London Stock Exchange, with the highest and lowest prices recorded at £22.0050 and £21.6950, respectively. Additionally, the company bought 250,000 shares on BATS and 1,500,000 shares on Euronext Amsterdam at prices of €25.9535 and €26.1300.
This acquisition is part of its ongoing share buy-back program, managed by Citigroup Global Markets Limited.