Shell plc Announces Purchase of Own Shares for Cancellation

Shell plc, a leading global energy company, has announced the purchase of its own shares for cancellation as part of its existing share buy-back program. The transactions were made on 29 September 2023 and are in line with the company’s strategy to optimize its capital structure.

Citigroup Global Markets Limited, acting independently from Shell plc, will make trading decisions regarding the securities until 27 October 2023. The share buy-back program includes both on-market and off-market transactions, following the parameters set by the company and approved by its shareholders.

The program is conducted in accordance with the relevant regulations, including the Market Abuse Regulation and the EU MAR Delegated Regulation, which have been “onshored” into UK law since the end of the Brexit transition period.

Shell plc’s decision to repurchase its own shares reflects its confidence in the company’s long-term prospects and its commitment to delivering value to shareholders. By canceling the purchased shares, Shell aims to enhance its financial position and optimize its capital allocation.

This announcement demonstrates Shell’s proactive approach to managing its capital structure and underscores its commitment to creating sustainable value for its stakeholders. The company remains focused on its strategic priorities, including the transition to a lower-carbon future and the delivery of cleaner energy solutions.

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Please note that this article is based on a press release and does not contain any breaking news or information related to true crime or police chases.