Transaction in Own Shares
Rhea-AI Summary
Shell plc (SHEL) has announced a significant share buyback program on August 1, 2024. The company purchased 795,138 shares on the London Stock Exchange at a volume-weighted average price of £28.6304 per share. Additionally, 779,178 shares were bought on the Amsterdam exchange at an average price of €34.0475. This initiative is part of Shell's ongoing share repurchase program, which will continue until October 25, 2024. Citigroup Global Markets is managing the trades independently, operating within pre-set parameters for both on-market and off-market purchases. The program adheres to regulatory guidelines, including EU and UK Market Abuse Regulations.
Positive
- Shell is executing a substantial share buyback program, potentially increasing shareholder value
- The company is purchasing shares on multiple exchanges, demonstrating a comprehensive approach to the buyback
- The program is structured to comply with regulatory requirements, showing good corporate governance
Negative
- Significant capital expenditure on share buybacks may reduce funds available for other investments or operations
News Market Reaction – SHEL
On the day this news was published, SHEL declined 0.38%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Transaction in Own Shares
01 August, 2024
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 01 August 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 |
| 01/08/2024 | 795,138 | LSE | GBP | |||
| 01/08/2024 | - | Chi-X (CXE) | GBP | |||
| 01/08/2024 | - | BATS (BXE) | GBP | |||
| 01/08/2024 | 779,178 | XAMS | EUR | |||
| 01/08/2024 | - | CBOE DXE | EUR | |||
| 01/08/2024 | - | 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 1 August 2024.
In respect of this programme, Citigroup Global Markets Limited will make trading decisions in relation to the securities independently of the Company for a period from 1 August 2024 up to and including 25 October 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 Citigroup Global Markets Limited 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
How many shares did Shell (SHEL) repurchase on August 1, 2024?
What was the average price paid per share for Shell's (SHEL) stock buyback on August 1, 2024?
When is Shell's (SHEL) current share buyback program scheduled to end?
Who is managing Shell's (SHEL) share repurchase trades?
