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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.
The Board of Shell plc announced the third quarter 2022 dividend payment of $0.25 per ordinary share, payable on December 19, 2022, to shareholders on the Register as of November 11, 2022. Shareholders can opt to receive dividends in USD, EUR, or GBP. As of November 25, 2022, the corresponding amounts are €0.2398 and 20.61p. Notably, due to Shell's tax residence change to the UK, dividends will not incur Dutch withholding tax.
Shell plc announced its total voting rights as of November 30, 2022, comprising 7,057,781,012 ordinary shares valued at €0.07 each. The company does not hold any shares in Treasury. This number serves as a key figure for shareholders to determine their reporting obligations under the FCA's Disclosure Guidance and Transparency Rules. The announcement also notes that this total includes shares from Shell's buy-back program that are yet to be canceled. The communication adheres to the Disclosure Guidance regulations.
BG Energy Capital PLC has announced a significant notice regarding its outstanding fixed-rate notes totaling £750 million and €900 million. Noteholders are invited to separate meetings via teleconference on December 20, 2022, to discuss resolutions related to the existing notes, including the 2025, 2029, 2033, and 2036 series. The notice provides detailed information about voting procedures and quorum requirements. Investors are advised to seek independent financial advice regarding the impact of the resolutions.
BG Energy Capital plc has announced Consent Solicitations for its outstanding Notes, allowing eligible holders to approve amendments to the terms of certain series. The proposed changes include substituting Shell plc as the guarantor, appointing Deutsche Trustee Company Limited as the successor trustee, and aligning specific provisions with Shell’s existing debt securities documentation. The Consent Solicitation will run from November 28, 2022, until 4:00 p.m. London time on December 15, 2022. Noteholders are encouraged to read the detailed Consent Solicitation Memorandum for full terms.
Shell plc announced the purchase of 1,500,000 shares on November 11, 2022, as part of its ongoing share buy-back program initiated on October 27, 2022. The highest price paid per share was £23.72, while the lowest was £22.94, with a volume-weighted average price of £23.52. Additional purchases include 499,099 shares and 1,999,553 shares in different trading venues, following compliance with EU MAR and UK MAR regulations. Goldman Sachs International will manage these purchases independently until January 27, 2023.
The press release dated 11 November 2022 announces the publication of the Prospectus Supplement and Shell plc's unaudited interim financial report for the nine months ended 30 September 2022. The documents must be viewed alongside the Information Memorandum from 26 September 2022. Investors are directed to specific URLs for detailed financial insights. The release emphasizes that the information is not intended for U.S. persons and advises readers to verify eligibility before accessing the information.
Shell plc announces the appointment of Catherine J. Hughes as a Non-executive Director on the Board of Valaris Limited (NYSE: VAL) effective November 9, 2022.
This declaration complies with Listing Rule 9.6.14R(2), highlighting regulatory adherence in corporate governance.
Shell plc has announced that Wael Sawan, the Integrated Gas, Renewables and Energy Solutions Director, received 9,386 shares as part of his compensation. This award represents 50% of his annual bonus and was granted on October 28, 2022, with shares priced at €28.125 each. The shares have a mandatory three-year holding period that applies even after the PDMR leaves the company. This disclosure complies with the EU Market Abuse Regulation. Detailed information regarding Shell's Directors’ Remuneration Policy is accessible via their annual report.
Shell plc announces its total voting rights as of October 31, 2022. The company has a capital consisting of 7,110,291,093 ordinary shares of €0.07 each, with no shares held in Treasury.
Shareholders can utilize this figure to calculate their notification obligations under the FCA's Disclosure Guidance and Transparency Rules. Notably, this count includes shares bought back by Shell that are yet to be canceled.
Shell's outgoing CEO Ben van Beurden will step down on December 31, 2022. A typographical error corrected in the previous announcement clarifies that he will serve as an adviser until June 30, 2023. His separation agreement includes a GBP 1,420,000 payment for loss of office, with additional bonuses and LTIP awards based on performance criteria. He retains a post-employment shareholding requirement of 700% of salary until July 1, 2025. All updates will be detailed in the 2023 Remuneration Report.
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