Transaction in Own Shares
Shell plc, a leading global energy company, has announced its recent purchase of shares for cancellation as part of its ongoing share buy-back program. The company has been actively involved in both on- and off-market transactions to repurchase its own shares, demonstrating its commitment to creating value for its shareholders.
Citigroup Global Markets Limited, an independent trading decision-maker, has been entrusted with making trading decisions on behalf of Shell plc for a specific period. This arrangement ensures that the buy-back program is conducted efficiently and in compliance with regulatory requirements.
The on-market limb of the program will be executed within predetermined parameters and in accordance with the company’s authority to repurchase shares on the open market. Meanwhile, the off-market limb will be carried out in line with the company’s general authority to repurchase shares off-market, as approved by its shareholders and outlined in the off-market buyback contract.
Shell plc is committed to conducting its share buy-back program in accordance with the relevant regulations, including Chapter 12 of the Listing Rules and Article 5 of the Market Abuse Regulation. These regulations ensure that the program adheres to the highest standards of transparency and fairness.
The company’s adherence to the European Union Market Abuse Regulation (EU MAR) and its subsequent incorporation into UK law through the European Union (Withdrawal) Act 2018, as well as the Financial Services Act, 2021, further underscores Shell plc’s commitment to regulatory compliance. The EU MAR Delegated Regulation, which has also been incorporated into UK law, adds an additional layer of regulatory oversight to the buy-back program.
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 its shareholders. By reducing the number of outstanding shares, the company aims to enhance shareholder returns and optimize its capital structure.
Investors and stakeholders can rest assured that Shell plc remains focused on its strategic objectives and is dedicated to creating sustainable value. The company’s ongoing share buy-back program is just one example of its proactive approach to capital management and commitment to delivering positive outcomes for its shareholders.
For further information or inquiries, please contact Shell plc’s media relations teams. The company’s LEI number is 21380068P1DRHMJ8KU70.
In conclusion, Shell plc’s recent share buy-back program highlights its commitment to creating value for shareholders and optimizing its capital structure. The company’s adherence to regulatory requirements and its proactive approach to capital management demonstrate its dedication to delivering positive outcomes for investors.