Transaction in Own Shares
On April 19, 2023, Shell plc announced the purchase of 912,000 shares for cancellation as part of its ongoing share buyback program initiated on February 2, 2023.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
On April 19, 2023, Shell plc announced the purchase of 912,000 shares for cancellation as part of its ongoing share buyback program initiated on February 2, 2023. The shares were acquired across various trading venues, with prices ranging from £24.395 to £24.640. Notably, the volume weighted average price paid per share was approximately £24.495. BNP Paribas Exane manages these transactions independently, adhering to the parameters set for both on- and off-market buybacks. The program complies with relevant regulations including the UK version of the Market Abuse Regulation. The share buyback aims to return value to shareholders by reducing the number of outstanding shares in the market.
Positive
- Purchase of 912,000 shares demonstrates a commitment to returning value to shareholders.
- Participation in a structured buyback program provides transparency and adherence to regulations.
Negative
- None.
Details
News Market Reaction – SHEL
The recorded move for SHEL in the trading session of this news was -0.66%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
19 April, 2023
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Shell plc (the ‘Company’) announces that on 19 April 2023 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 |
| 19/04/2023 | 462,000 | LSE | GBP | |||
| 19/04/2023 | 150,000 | Chi-X (CXE) | GBP | |||
| 19/04/2023 | 300,000 | BATS (BXE) | GBP |
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 February 2023.
In respect of this programme, BNP Paribas Exane will make trading decisions in relation to the securities independently of the Company for a period from 2 February 2023 up to and including 28 April 2023.
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 Exane 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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