Transaction in Own Shares
Shell announced the acquisition of its own shares on May 28, 2024, as part of its ongoing buy-back programme.
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Rhea-AI Summary
Shell announced the acquisition of its own shares on May 28, 2024, as part of its ongoing buy-back programme. The total shares purchased were 1,820,000, with transactions taking place across various venues. On the London Stock Exchange, 605,844 shares were bought at an average price of £27.7175. On Chi-X, 160,423 shares were acquired at £27.7167, and on BATS, 113,733 shares at £27.7200. In Europe, 584,899 shares were purchased on XAMS at €32.7447, 297,986 on CBOE DXE at €32.7274, and 57,115 on TQEX at €32.7403. BNP PARIBAS Financial Markets SNC will manage the trading independently until July 26, 2024. This buy-back initiative aligns with EU and UK Market Abuse Regulations.
Positive
- Total shares repurchased: 1,820,000, indicating strong cash position.
- Share repurchase supports stock price and shareholder value.
- Average purchase prices suggest a stable or appreciating stock value.
- Transactions managed by BNP PARIBAS ensuring third-party oversight.
Negative
- Capital allocation towards buy-backs may limit investment in growth opportunities.
- Short-term stock price boost might not reflect long-term value.
- Potential for reduced liquidity in the market due to share cancellation.
- Regulatory complexities and compliance costs associated with the buy-back.
Details
News Market Reaction – SHEL
The recorded move for SHEL in the trading session of this news was +1.30%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Transaction in Own Shares
28 May, 2024
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 28 May, 2024 it purchased the following number of Shares for cancellation.
Aggregated information on Shares purchased according to trading venue:
| Date of purchase | Number of Shares purchased | Highest price paid | Lowest price paid | Volume weighted average price paid per share | Venue | Currency |
| 28/05/2024 | 605,844 | LSE | GBP | |||
| 28/05/2024 | 160,423 | Chi-X (CXE) | GBP | |||
| 28/05/2024 | 113,733 | BATS (BXE) | GBP | |||
| 28/05/2024 | 584,899 | XAMS | EUR | |||
| 28/05/2024 | 297,986 | CBOE DXE | EUR | |||
| 28/05/2024 | 57,115 | TQEX | EUR |
These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 2 May 2024.
In respect of this programme, BNP PARIBAS Financial Markets SNC will make trading decisions in relation to the securities independently of the Company for a period from 2 May 2024 up to and including 26 July 2024.
The on-market limb will be effected within certain pre-set parameters and in accordance with the Company’s general authority to repurchase shares on-market. The off-market limb will be effected in accordance with the Company’s general authority to repurchase shares off-market pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein. The programme will be conducted in accordance with Chapter 12 of the Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (“EU MAR”) and EU MAR as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time (“UK MAR”) and the Commission Delegated Regulation (EU) 2016/1052 (the “EU MAR Delegated Regulation”) and the EU MAR Delegated Regulation as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.
In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by BNP PARIBAS Financial Markets SNC on behalf of the Company as a part of the buy-back programme is detailed below.
Enquiries
Media International: +44 (0) 207 934 5550
Media Americas: +1 832 337 4335
LEI number of Shell plc: 21380068P1DRHMJ8KU70
Classification: Acquisition or disposal of the issuer’s own shares
Attachment
FAQ
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