Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) announced on 09 October 2024 the purchase of 950,000 shares on the London Stock Exchange at a volume-weighted average price of £25.7633 per share, and 922,000 shares on Euronext Amsterdam at €31.0512 per share. These purchases are part of the company's existing share buy-back programme announced on 1 August 2024.

The programme includes both on-market and off-market limbs, with Citigroup Global Markets making independent trading decisions from 1 August to 25 October 2024. The buyback is conducted in accordance with UK and EU regulations, including the Market Abuse Regulation and Commission Delegated Regulation.

Positive

• Shell is actively implementing its share buyback program, potentially increasing shareholder value
• The company is executing purchases on multiple exchanges, demonstrating global market presence

Negative

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

Insights

Financial Analyst

Shell plc's latest share repurchase update demonstrates its ongoing commitment to returning value to shareholders. The company bought back 950,000 shares on the London Stock Exchange at an average price of £25.7633 and 922,000 shares on Euronext Amsterdam at €31.0512. This is part of Shell's previously announced buyback program, which aims to reduce share count and potentially boost earnings per share. The total daily repurchase of nearly 1.9 million shares represents a significant investment, likely exceeding $60 million based on current exchange rates. While share buybacks can be seen positively as a sign of financial strength and confidence in the company's valuation, investors should also consider whether this capital allocation strategy is the most effective use of funds compared to alternatives like increased dividends, debt reduction, or reinvestment in the business. The impact on Shell's stock price may be modestly positive in the short term, but the long-term effect will depend on the company's overall financial performance and market conditions.

Transaction in Own Shares

09 October, 2024

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Shell plc (the ‘Company’) announces that on 09 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
09/10/2024	950,000	£25.8900	£25.6300	£25.7633	LSE	GBP
09/10/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
09/10/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
09/10/2024	922,000	€31.1900	€30.8800	€31.0512	XAMS	EUR
09/10/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
09/10/2024	-	€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 09-Oct-24 - complete

FAQ

How many shares did Shell (SHEL) purchase on 09 October 2024?

Shell (SHEL) purchased 950,000 shares on the London Stock Exchange and 922,000 shares on Euronext Amsterdam on 09 October 2024.

What was the average price paid per share for Shell's (SHEL) stock purchases on 09 October 2024?

The volume-weighted average price paid was £25.7633 per share on the London Stock Exchange and €31.0512 per share on Euronext Amsterdam.

When was Shell's (SHEL) current share buy-back programme announced?

Shell's (SHEL) current share buy-back programme was announced on 1 August 2024.

Who is making the trading decisions for Shell's (SHEL) share buyback program?

Citigroup Global Markets is making independent trading decisions for Shell's (SHEL) share buyback program from 1 August to 25 October 2024.