Transaction in Own Shares
On March 28, 2023, Shell plc announced the repurchase of shares for cancellation as part of its ongoing buy-back program initiated on February 2, 2023. A total of 3,000,000 shares were purchased across various trading venues, including LSE, Chi-X, and others, at prices ranging from £22.415 to £26.105. The highest price paid was £22.745 GBP, while the lowest was £22.415 GBP. BNP Paribas Exane will manage trading decisions for this program until April 28, 2023. The buy-back aligns with the company's strategy to enhance shareholder value and complies with relevant market regulations.
- Shell repurchased 3,000,000 shares, enhancing shareholder value.
- Shares purchased at an overall average price of £22.621 GBP, reflecting positive market conditions.
- Share buy-back may indicate the company lacks profitable reinvestment opportunities.
28 March, 2023
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 28 March 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 |
| 28/03/2023 | 1,020,479 | LSE | GBP | |||
| 28/03/2023 | 200,000 | Chi-X (CXE) | GBP | |||
| 28/03/2023 | 309,521 | BATS (BXE) | GBP | |||
| 28/03/2023 | 1,048,328 | XAMS | EUR | |||
| 28/03/2023 | 382,914 | CBOE DXE | EUR | |||
| 28/03/2023 | 38,758 | 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
FAQ
What was the total number of shares Shell (SHEL) repurchased on March 28, 2023?
What was the highest price Shell (SHEL) paid for its shares on March 28, 2023?
When did Shell's share buy-back program begin?
Who manages Shell's share buy-back program?
What is the purpose of Shell's share buy-back program?
