What is the purpose of Shell's share buyback program announced on May 23, 2022?

The purpose of Shell's share buyback program is to manage capital effectively, enhancing shareholder value through the cancellation of the purchased shares.

What regulations govern Shell's share buyback program?

Shell's share buyback program is governed by the Market Abuse Regulation (MAR) rules, both from the EU and the UK.

Transaction in Own Shares

On May 23, 2022, Shell plc announced a share buyback program, purchasing a total of 3,911,000 shares for cancellation.

Rhea-AI Impact

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Rhea-AI Sentiment

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Rhea-AI Summary

On May 23, 2022, Shell plc announced a share buyback program, purchasing a total of 3,911,000 shares for cancellation. The shares were acquired across various trading venues, with prices ranging from £23.500 to £23.890. This activity follows a previously disclosed buy-back arrangement initiated on May 5, 2022, where BNP Paribas Exane makes independent trading decisions. The transactions are conducted under the guidelines of the Market Abuse Regulation (MAR), both EU and UK versions.

Positive

Shell has initiated a significant share buyback program, indicating strong capital management and confidence in its stock.
The average price paid per share was approximately £23.777, suggesting effective execution of the buyback strategy.

Negative

None.

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News Market Reaction – SHEL

The recorded move for SHEL in the trading session of this news was +2.86%.

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05/23/2022 - 12:07 PM EDT

Transaction in Own Shares

23 May 2022
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 23 May 2022 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 (GBP)	Lowest price paid (GBP)	Volume weighted average price paid per share (GBP)	Venue
23/05/2022	3,022,000	23.890	23.500	23.784	LSE
23/05/2022	439,000	23.890	23.495	23.776	Chi-X (CXE)
23/05/2022	450,000	23.890	23.505	23.777	BATS (BXE)

These share purchases form part of the Company's share buy-back arrangement previously announced on 5 May 2022.

In respect of this arrangement, BNP Paribas Exane will make trading decisions in relation to the Company’s securities independently of the Company for a period from 5 May 2022 up to and including 22 July 2022.

Any such share purchases will be effected within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares, 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 (on 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 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 Delegation Regulation”) and the EU MAR Delegated Regulation as “onshored” into UK law from the end of the Brexit transition period (on 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 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 full breakdown of the individual trades made by BNP Paribas Exane on behalf of the Company as a part of the buy-back arrangement is detailed below.

Enquiries
Media International: +44 (0) 207 934 5550
Media Americas: +1 832 337 4355

LEI number of Shell plc: 21380068P1DRHMJ8KU70

Classification: Acquisition or disposal of the issuer’s own shares

Attachment

RNS Report SHELL 2022 05 23

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Shell purchase on May 23, 2022?

On May 23, 2022, Shell purchased a total of 3,911,000 shares for cancellation.

What were the prices paid for Shell shares during the buyback on May 23, 2022?

During the buyback on May 23, 2022, Shell shares were purchased at prices ranging from £23.500 to £23.890.

Who is responsible for trading decisions in Shell's buyback program?

BNP Paribas Exane is responsible for making independent trading decisions in relation to Shell's buyback program.

Transaction in Own Shares