Welcome to our dedicated page for Shell plc American Depositary Shares (Each represents two Ordinary shares) news (Ticker: SHEL), a resource for investors and traders seeking the latest updates and insights on Shell plc American Depositary Shares (Each represents two Ordinary shares) stock.
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 plc announced on January 18, 2023, the purchase of 1,500,000 shares for cancellation as part of its ongoing share buy-back program initiated on October 27, 2022. The shares were bought at a highest price of £24.2750 and a lowest price of £23.9900, with a volume-weighted average price of £24.1409. An additional 499,066 shares were purchased on the same date through the Chi-X venue. Goldman Sachs International is executing trades independently for this buy-back, which adheres to UK and EU regulations. The program aims to reduce the total number of shares available, potentially increasing shareholder value.
Shell USA Inc. has announced the acquisition of Volta Inc. in an all-cash transaction valued at approximately
Shell plc announced the purchase of 1,112,426 shares for cancellation on January 11, 2023, as part of its existing share buy-back program initiated on October 27, 2022. The shares were bought at prices ranging from £23.8400 to £24.1700, with a volume-weighted average price of £24.0018. These transactions were executed through various trading venues, including LSE and Chi-X. Goldman Sachs International is managing the buy-back program, making trading decisions independently until January 27, 2023. Compliance with EU MAR and UK MAR regulations is assured for the entire program.
BG Energy Capital plc announced the results of consent solicitations regarding its outstanding notes on January 11, 2023. The meeting, initially held on December 20, 2022, lacked a quorum but was later adjourned successfully. The consent conditions for each series of notes were satisfied, allowing Shell to replace BG Energy Holdings Limited as the guarantor. The changes, effective from January 11, 2023, also involve appointing Deutsche Trustee Company Limited as the successor trustee. Amendments to the terms of the notes were executed without requiring a consent fee.
Shell has updated its fourth quarter 2022 outlook, projecting adjusted EBITDA across various segments. Integrated Gas production is expected between 900-940 kboe/d, with LNG volumes at 6.6-7.0 MT, impacted by outages. Adjusted earnings for Upstream range from (400)-200 million, while chemicals margin shows improvement from Q3. Renewables and Energy Solutions forecasts adjusted earnings of (500)-100 million. A new EU tax impact of $2 billion and varying operational challenges have been noted. Full results will be available on February 2, 2023.
On December 28, 2022, Shell plc disclosed managerial transactions following the interim dividend payment on December 19, 2022. Key executives, including Sinead Gorman and Wael Sawan, acquired dividend shares associated with past bonuses and share plans. Noteworthy transactions include Gorman acquiring 338.38 SHEL shares at £23.95 each and Brekelmans acquiring 1,176.20 SHELL shares at €27.26 each. The report highlights transparency in executive share dealings in compliance with EU and UK market regulations.
BG Energy Capital has issued a notice regarding an Adjourned Meeting for the holders of its €800,000,000 2.250% Fixed Rate Notes, due November 21, 2029. The meeting is scheduled for January 11, 2023, via teleconference, to discuss a proposed resolution. Noteholders are advised to seek independent financial and legal advice regarding the notice and its implications. The Existing Guarantor for the notes is BG Energy Holdings Limited.
BG Energy Capital plc has announced the results of noteholders’ meetings regarding its outstanding notes, including consent solicitations for proposed amendments. Notably, Shell plc will replace the existing guarantor, and Deutsche Trustee will be appointed as the successor trustee for certain notes. Quorum was achieved for 2025, 2033, and 2036 notes, with resolutions passed; however, the necessary resolution inter-conditionality has not yet been satisfied. The meeting for the 2029 notes was adjourned due to a lack of quorum, with the consent solicitation deadline extended to January 6, 2023.
Shell plc announced a share buyback on December 8, 2022, purchasing a total of 921,539 shares for cancellation at a volume-weighted average price of £23.3188. The buyback is part of an ongoing program initiated on October 27, 2022. Goldman Sachs International will manage trading decisions for the buyback until January 27, 2023. The transactions will adhere to the UK MAR and EU MAR regulations.
Shell plc has advised shareholders to reject an unsolicited mini-tender offer from TRC Capital Investment Corporation. TRC aims to purchase up to 2 million American Depositary Shares (ADSs), about 0.06% of Shell's outstanding shares, at $53.25 per ADS, a 4.52% discount to the last closing price of $55.77. The company emphasizes that this offer is below market value and encourages ADS holders to be cautious and not tender their shares. The SEC has warned that mini-tender offers may catch investors off guard and often lack the same protections as larger tender offers.
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