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Shell plc (NYSE: SHEL) is a British multinational oil and gas company headquartered in London, England. As an integrated oil and gas company, Shell engages in the exploration, production, refining, and marketing of oil and natural gas. The company’s operations span across Europe, Asia, Oceania, Africa, and the Americas.
Shell produced an average of 1.5 million barrels of liquids and 7.3 billion cubic feet of natural gas per day in 2023. At the end of 2023, Shell’s reserves stood at 9.6 billion barrels of oil equivalent, with 49% consisting of liquids. The company operates refineries with a combined capacity of 1.6 million barrels per day and sells approximately 12 million tons of chemicals annually. Shell’s largest chemical plants are situated in Central Europe, China, Singapore, and North America.
In recent developments, Shell has released its 2023 report on payments to governments, complying with UK and EU regulations, and submitted this report to the National Storage Mechanism and the US SEC. The company is scheduled to publish its Q1 2024 financial results on May 2, 2024, with a strong outlook presented for its various segments including Integrated Gas, Upstream, Marketing, Chemicals & Products, and Renewables & Energy Solutions.
Shell remains committed to its energy transition strategy, aiming for net-zero emissions by 2050. The company’s operating plans and budgets are updated annually to reflect the current economic environment and include targets for Scope 1, Scope 2, and Net Carbon Intensity.
The company has also announced an interim dividend for Q1 2024, payable in multiple currencies. Shareholders can participate in Dividend Reinvestment Programs to reinvest their dividends into Shell shares.
Shell has announced its total voting rights and capital as of May 31, 2024.
Shell's capital consists of 6,359,505,984 ordinary shares of €0.07 each. There are no shares held in Treasury.
This figure is important for shareholders to determine if they need to notify any changes in their interest in Shell under the FCA's Disclosure Guidance and Transparency Rules.
The announcement includes shares bought back by Shell but not yet cancelled.
On May 29, 2024, multiple transactions were conducted by Philippa Bounds, a Director at Shell, and her close associates. These transactions involved selling company shares and immediately repurchasing them into Individual Savings Accounts (ISAs). Philippa Bounds sold 715 shares and repurchased 711 shares, while James, Alfred, George, and Brian Bounds sold between 322 to 715 shares each and repurchased slightly fewer shares into their ISAs. These actions comply with the EU and UK market abuse regulations. The transactions took place on the London Stock Exchange at prices around €27.97 to €28.00 per share.
On 30 May 2024, Shell purchased a total of 1,819,000 shares for cancellation as part of its share buy-back programme. The purchases were made across several trading venues including LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX, with the highest price paid being £28.0050 and €33.0400, and the lowest at £27.8250 and €32.8100 respectively. The volume-weighted average prices ranged from £27.8978 to £27.9070 and €32.9158 to €32.9277. BNP PARIBAS Financial Markets SNC is executing the buy-back independently for Shell. The buy-back programme adheres to EU MAR and UK MAR regulations.
On May 29, 2024, Shell announced several share transactions involving Philippa Bounds, a Legal Director, and her closely associated persons (PCAs). On May 23, 2024, Philippa Bounds sold 8,961 shares and repurchased them into her Individual Savings Account (ISA) through a 'Bed and ISA' process. Additionally, three PCAs—James, Alfred, and George Bounds—each purchased 312 shares into their ISAs. These transactions were conducted on the London Stock Exchange at £27.75 per share. The notifications were made in compliance with EU and UK Market Abuse Regimes.
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.
Shell plc announced the purchase of its own shares on May 23, 2024, as part of its ongoing buy-back program. The company repurchased shares across various trading venues including the LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX. The highest price paid per share was £27.8400 and €32.8250, while the lowest was £27.5250 and €32.4900. The total number of shares repurchased was 1,542,225 in GBP and 754,999 in EUR. BNP PARIBAS Financial Markets SNC manages the trading independently for the buy-back program which runs until July 26, 2024. This action aligns with Shell's strategic financial management policies within the regulations of EU MAR and UK MAR.
On May 21, 2024, Shell announced the repurchase of its shares as part of its ongoing buy-back program. The company purchased a total of 1,619,000 shares across multiple trading venues: LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX. Prices for these buybacks ranged from £27.79 to £28.11 per share on GBP venues and €32.665 to €33.065 on EUR venues. The buy-back program, initiated on May 2, 2024, will continue until July 26, 2024, with BNP PARIBAS Financial Markets SNC making independent trading decisions within pre-set parameters and regulatory guidelines, including the Market Abuse Regulation (MAR) and its UK equivalent.
Shell plc announced the results of its Annual General Meeting held on May 21, 2024. Resolutions 1-22 were approved, while Resolution 23 was not. Key resolutions include the reappointment of directors and auditors, approval of the Directors' Remuneration Report, and authority to allot and purchase shares. Notably, Resolution 22, related to Shell's Energy Transition Strategy for 2024, received 78.03% votes in favor and 21.97% against, indicating some shareholder dissent. CEO Wael Sawan emphasized the company's commitment to becoming a net-zero emissions energy business by 2050. Full details of the resolutions are available for inspection at the National Storage Mechanism.
On 17 May 2024, Shell purchased a total of 2,160,000 shares for cancellation across various trading venues as part of its share buy-back program announced on 2 May 2024. The highest price paid per share was £28.3450 on the LSE, and the lowest was €32.8100 on XAMS. BNP Paribas Financial Markets SNC will independently manage trading decisions for the buy-back period ending 26 July 2024. The program adheres to EU MAR and UK MAR regulations.
On May 15, 2024, Shell announced the purchase of its own shares as part of an ongoing buy-back program. The company bought a total of 99,694 shares across various trading venues at prices ranging from £28.4800 to £29.2800 and €33.3400 to €34.2250. This program, managed by BNP Paribas Financial Markets SNC, runs from May 2, 2024, to July 26, 2024, and adheres to both EU MAR and UK MAR regulations. The highest volume was bought on LSE with 43,329 shares, while the lowest was on TQEX with 1,156 shares.
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