Transaction in Own Shares

Rhea-AI Summary

Shell plc announced on 8 February 2023 the purchase of 1,926,500 shares as part of its share buy-back program, which was previously disclosed on 2 February 2023. The shares were acquired through various trading venues including LSE, Chi-X, BATS, XAMS, and CBOE DXE. The highest price paid was £24.780 and the lowest was £24.475 for the GBP transactions, while €27.925 and €27.580 were the highest and lowest prices respectively for the EUR trades. BNP Paribas Exane will independently manage this program until 28 April 2023.

Positive

• Completion of share buy-back program increases shareholder value by reducing the overall number of shares outstanding.
• Purchasing shares at varied prices indicates a strategic approach to capital allocation.

Negative

• The need to repurchase shares may indicate potential weaknesses in stock market performance or investor confidence.
• Increased stock buy-backs may result in a temporary boost in share price without addressing underlying business performance.

 08 February, 2023

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Shell plc (the ‘Company’) announces that on 8 February 2023 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
08/02/2023	760,636	£24.780	£24.475	£24.588	LSE	GBP
08/02/2023	200,000	£24.775	£24.480	£24.595	Chi-X (CXE)	GBP
08/02/2023	180,864	£24.685	£24.475	£24.579	BATS (BXE)	GBP
08/02/2023	860,000	€27.920	€27.580	€27.710	XAMS	EUR
08/02/2023	240,000	€27.925	€27.585	€27.716	CBOE DXE	EUR
08/02/2023	25,000	€27.915	€27.590	€27.718	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 February 2023.

 

In respect of this programme, BNP Paribas Exane will make trading decisions in relation to the securities independently of the Company for a period from 2 February 2023 up to and including 28 April 2023.

 

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 Exane 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

• RNS Report SHELL 2023 02 08

FAQ

What was announced on 8 February 2023 regarding Shell plc shares?

On 8 February 2023, Shell plc announced the purchase of 1,926,500 shares for cancellation as part of its buy-back program.

How many shares did Shell plc buy back on 8 February 2023?

Shell plc bought back a total of 1,926,500 shares on 8 February 2023.

What are the highest and lowest prices paid for Shell plc shares in the buy-back?

The highest price paid was £24.780 and the lowest was £24.475 for GBP transactions.

Who is managing Shell plc's share buy-back program?

BNP Paribas Exane is managing Shell plc's share buy-back program until 28 April 2023.

When was Shell plc's share buy-back program originally announced?

The share buy-back program was originally announced on 2 February 2023.