Transaction in Own Shares
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.
- Shell purchased 2,160,000 shares for cancellation, reducing the number of outstanding shares.
- The buy-back program is executed under existing regulatory frameworks (EU MAR and UK MAR).
- BNP Paribas Financial Markets SNC will independently manage trading decisions, ensuring impartiality.
- The highest price paid for shares was £28.3450, potentially higher than market expectations.
- The cost associated with the buy-back program may affect Shell’s financial status in the short term.
- The buy-back program could be seen as a short-term solution rather than a long-term growth strategy.
Transaction in Own Shares
17 May, 2024
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Shell plc (the ‘Company’) announces that on 17 May, 2024 it purchased the following number of Shares for cancellation.
Aggregated information on Shares purchased according to trading venue:
| Date of purchase | Number of Shares purchased | Highest price paid | Lowest price paid | Volume weighted average price paid per share | Venue | Currency |
| 17/05/2024 | 710,000 | LSE | GBP | |||
| 17/05/2024 | 150,000 | BATS (BXE) | GBP | |||
| 17/05/2024 | 100,000 | Chi-X (CXE) | GBP | |||
| 17/05/2024 | 949,021 | XAMS | EUR | |||
| 17/05/2024 | 200,979 | CBOE DXE | EUR | |||
| 17/05/2024 | 50,000 | TQEX | EUR |
These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 2 May 2024.
In respect of this programme, BNP PARIBAS Financial Markets SNC will make trading decisions in relation to the securities independently of the Company for a period from 2 May 2024 up to and including 26 July 2024.
The on-market limb will be effected within certain pre-set parameters and in accordance with the Company’s general authority to repurchase shares on-market. The off-market limb will be effected in accordance with the Company’s general authority to repurchase shares off-market pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein. The programme will be conducted in accordance with Chapter 12 of the Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (“EU MAR”) and EU MAR as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time (“UK MAR”) and the Commission Delegated Regulation (EU) 2016/1052 (the “EU MAR Delegated Regulation”) and the EU MAR Delegated Regulation as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.
In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by BNP PARIBAS Financial Markets SNC on behalf of the Company as a part of the buy-back programme is detailed below.
Enquiries
Media International: +44 (0) 207 934 5550
Media Americas: +1 832 337 4335
LEI number of Shell plc: 21380068P1DRHMJ8KU70
Classification: Acquisition or disposal of the issuer’s own shares
Attachment
FAQ
What is the significance of Shell's share buy-back program announced on 2 May 2024?
How many shares did Shell purchase on 17 May 2024?
What was the highest price paid per Shell share on 17 May 2024?
Who manages the trading decisions for Shell's buy-back program?
When will Shell's current share buy-back program end?
