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.
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.
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.