Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) announced on 15 October 2024 that it purchased 1,000,000 shares on the London Stock Exchange at a volume-weighted average price of £25.0534 per share, and 940,000 shares on Euronext Amsterdam at a volume-weighted average price of €30.3759 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 market abuse regulations and the UK Listing Rules.

Positive

• Shell is actively repurchasing shares, potentially indicating confidence in the company's value
• The share buyback program may help boost earnings per share and shareholder value

Negative

• Large cash expenditure on share repurchases may reduce funds available for other investments or operations

Insights

Financial Analyst

Shell plc's latest share buyback update demonstrates the company's ongoing commitment to returning value to shareholders. The purchase of 1,000,000 shares on the London Stock Exchange at a volume-weighted average price of £25.0534, along with 940,000 shares on Euronext Amsterdam at €30.3759, represents a significant investment. This action is part of Shell's previously announced buyback programme, which aims to reduce share capital and potentially boost earnings per share. The company's ability to execute such large repurchases suggests strong cash flow and confidence in its financial position. However, investors should consider the balance between share buybacks and other potential uses of capital, such as investments in renewable energy or debt reduction. The strict regulatory compliance mentioned in the announcement, including adherence to UK and EU market abuse regulations, underscores Shell's commitment to transparency and proper governance in its buyback activities.

Transaction in Own Shares

15 October, 2024

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Shell plc (the ‘Company’) announces that on 15 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
15/10/2024	1,000,000	£25.3650	£24.9200	£25.0534	LSE	GBP
15/10/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
15/10/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
15/10/2024	940,000	€30.7200	€30.2200	€30.3759	XAMS	EUR
15/10/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
15/10/2024	-	€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 15-Oct-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on 15 October 2024?

Shell (SHEL) repurchased 1,000,000 shares on the London Stock Exchange and 940,000 shares on Euronext Amsterdam on 15 October 2024.

What was the average price paid per share for Shell's (SHEL) stock repurchase on 15 October 2024?

The volume-weighted average price paid was £25.0534 per share on the London Stock Exchange and €30.3759 per share on Euronext Amsterdam.

When did Shell (SHEL) announce its current share buy-back programme?

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

How long is Citigroup Global Markets authorized to make trading decisions for Shell's (SHEL) buyback program?

Citigroup Global Markets is authorized to make independent trading decisions for Shell's (SHEL) buyback program from 1 August 2024 up to and including 25 October 2024.