Transaction in Own Shares

Rhea-AI Summary

Shell plc announced on 11 October 2024 that it purchased 816,000 shares for cancellation as part of its existing share buy-back programme. The purchases were made on the London Stock Exchange at a volume-weighted average price of £25.9815 per share, and on Euronext Amsterdam at €31.3426 per share. This is part of the Company's on- and off-market share buy-back programme announced on 1 August 2024, which will run until 25 October 2024. Citigroup Global Markets is making independent trading decisions for this programme, which is being conducted in accordance with UK and EU regulations on share buy-backs and market abuse.

Positive

• Shell is actively managing its capital structure through share repurchases
• The company is executing its previously announced share buy-back programme

Negative

• Significant cash outflow for share repurchases may impact available funds for other investments

Insights

Financial Analyst

Shell's latest share buyback update demonstrates the company's ongoing commitment to returning value to shareholders. On October 11, 2024, Shell repurchased 816,000 shares on the London Stock Exchange at a volume-weighted average price of £25.9815 per share, totaling approximately £21.2 million. Additionally, 816,000 shares were bought on Euronext Amsterdam at €31.3426 per share, amounting to about €25.6 million.

This buyback is part of Shell's previously announced program from August 1, 2024. The consistent execution of share repurchases suggests strong cash flow generation and confidence in the company's financial position. For investors, this reduces the number of outstanding shares, potentially increasing earnings per share and stock value. However, it's important to note that while buybacks can be viewed positively, they also represent capital not being reinvested in growth initiatives or used for debt reduction.

The strict regulatory compliance mentioned in the announcement, including adherence to UK Listing Rules and Market Abuse Regulations, underscores Shell's commitment to transparency and proper governance in its buyback activities.

Transaction in Own Shares

11 October, 2024

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Shell plc (the ‘Company’) announces that on 11 October 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
11/10/2024	816,000	£26.0500	£25.8200	£25.9815	LSE	GBP
11/10/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
11/10/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
11/10/2024	816,000	€31.4350	€31.1050	€31.3426	XAMS	EUR
11/10/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
11/10/2024	-	€0.0000	€0.0000	€0.0000	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 1 August 2024.

In respect of this programme, Citigroup Global Markets Limited will make trading decisions in relation to the securities independently of the Company for a period from 1 August 2024 up to and including 25 October 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 9 of the UK 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 Citigroup Global Markets Limited 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 Template 11-Oct-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on October 11, 2024?

Shell plc (SHEL) repurchased 816,000 shares for cancellation on October 11, 2024.

What was the average price paid per share by Shell (SHEL) on the London Stock Exchange on October 11, 2024?

Shell plc (SHEL) paid a volume-weighted average price of £25.9815 per share on the London Stock Exchange on October 11, 2024.

When is Shell's (SHEL) current share buy-back programme scheduled to end?

Shell's (SHEL) current share buy-back programme is scheduled to run until October 25, 2024.

Who is making the trading decisions for Shell's (SHEL) share buy-back programme?

Citigroup Global Markets is making independent trading decisions for Shell's (SHEL) share buy-back programme.