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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 PLC announces the appointment of Caroline Omloo as Company Secretary effective August 1, 2022. She succeeds Linda Coulter, who retires after 28 years with Shell. Omloo, a Dutch national, has been with Shell since 1999 and held various roles including Secretary to the Audit Committee and Chief Privacy Officer. She previously led Legal and Compliance at Shell Asset Management Company. This transition reflects Shell's commitment to strong governance and leadership continuity.
Shell plc reported that as of June 28, 2022, it has a total of 7,363,284,479 ordinary shares with a nominal value of €0.07 each. The company currently holds no treasury shares. This figure is essential for shareholders to calculate their notification obligations under the FCA's Disclosure Guidance and Transparency Rules.
This announcement complies with the Disclosure Guidance and Transparency Rules 5.6.1A.
On 29 June 2022, Shell plc reported the purchase of 1,817,450 shares for cancellation as part of its buy-back program initiated on 5 May 2022. The transactions were executed across multiple trading venues including LSE and Chi-X, with prices ranging from £21.770 to £22.050. The average price paid per share was £21.894. BNP Paribas Exane managed the trading independently, adhering to regulatory guidelines and parameters set for the buy-back. This strategic move is aligned with Shell's ongoing efforts to enhance shareholder value through share repurchases.
On June 28, 2022, Shell plc announced the purchase of a total of 4,124,442 shares for cancellation as part of its ongoing buy-back program. This transaction included purchases on multiple trading venues, with shares bought at prices ranging from 21.500 GBP to 21.970 GBP. The buy-back program, initially announced on May 5, 2022, is managed by BNP Paribas Exane, which operates independently regarding trading decisions. The company's buy-back activities comply with relevant market regulations, including the EU Market Abuse Regulation.
On June 27, 2022, Shell plc announced the purchase of 3,000,408 shares for cancellation in a buy-back program. The shares were acquired at prices ranging from £20.780 to £21.320. Additionally, 639,000 and 479,000 shares were bought at similar prices through different trading venues. These transactions are part of an ongoing share buy-back initiative first disclosed on May 5, 2022, with BNP Paribas Exane executing the trades independently until July 22, 2022. The program adheres to regulatory standards including EU MAR and UK MAR.
Shell plc announced the vesting of shares under the Powering Progress Share Award (PPSA) for its Upstream Director, Zoe Yujnovich. On June 20, 2022, 53 shares of Shell (AMS) were vested, following the conditional award granted on June 18, 2021. This notification complies with Article 19 of the EU Market Abuse Regulation. The transaction took place outside a trading venue, and the shares were vested at a price of NIL. The announcement reinforces Shell's commitment to transparency in its managerial transactions.
On 24 June 2022, Shell plc announced the purchase of 4,732,000 shares for cancellation as part of its buy-back program initiated on 5 May 2022. The purchases included 3,609,000 shares at a volume-weighted average price of £20.530 on the LSE, 635,000 shares at £20.494 on Chi-X, and 488,000 shares at £20.490 on BATS. The program follows regulations under EU MAR and UK MAR, with BNP Paribas Exane managing trading decisions independently until 22 July 2022.
On June 23, 2022, Shell plc announced the purchase of shares for cancellation as part of its buy-back program initiated on May 5, 2022. The company acquired a total of 4,718,000 shares across different trading venues, with prices ranging from £20.360 to £21.095. The highest volume was recorded at the London Stock Exchange (LSE). The buy-back program is managed by BNP Paribas Exane, who will execute trades independently until July 22, 2022, adhering to strict market regulations.
Shell plc announced that two Persons Discharging Managerial Responsibilities (PDMRs), Sinead Gorman and Ed Daniels, have vested in a total of 56 ordinary shares each under the Powering Progress Share Award (PPSA) on June 20, 2022. This transaction follows the conditional awards granted on June 18, 2021. The shares were issued without a specified price, indicating potentially minimal immediate financial impact. This disclosure is in accordance with the EU and UK Market Abuse Regulations, underscoring compliance and transparency within the company.
On June 22, 2022, Shell plc announced the purchase of 4,573,000 shares for cancellation as part of its share buy-back program initiated on May 5, 2022. The shares were bought across multiple trading venues including LSE, Chi-X, and BATS. The highest price paid was £20.920, while the lowest was £20.540, with a volume-weighted average price of £20.722. This transaction aligns with Shell's strategy to enhance shareholder value and complies with relevant regulations including EU and UK Market Abuse Regulations.
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