Shell plc Announces Purchase of Own Shares for Cancellation
Shell plc, a leading energy company, has recently announced the purchase of its own shares for cancellation. These share purchases are part of the company’s existing share buy-back program, which was previously announced on July 27, 2023.
Citigroup Global Markets Limited will be responsible for making trading decisions in relation to the securities independently of the company. The on-market limb of the buy-back program will be executed within pre-set parameters and in accordance with the company’s general authority to repurchase shares on the market. The off-market limb will be carried out in accordance with the company’s general authority to repurchase shares off-market, as approved by its shareholders and outlined in the off-market buyback contract.
The buy-back program will be conducted in compliance with the relevant regulations, including Chapter 12 of the Listing Rules, the Market Abuse Regulation 596/2014/EU (EU MAR), and the UK MAR. The company will also adhere to the Commission Delegated Regulation (EU) 2016/1052 (EU MAR Delegated Regulation), which has been “onshored” into UK law.
Shell plc’s decision to repurchase its own shares demonstrates its commitment to enhancing shareholder value. By cancelling these shares, the company aims to optimize its capital structure and potentially increase earnings per share for existing shareholders.
For more information, please contact Shell plc’s media relations teams at the provided contact numbers.