Shell Buys Back 1.15M Shares for Cancellation on Dec 1, 2023

TL;DR

**Shell bought back over 1.1 million shares for cancellation on Dec 1, making remaining shares more valuable.**

AI Summary

Shell plc announced on January 5, 2024, that it repurchased 577,797 of its own shares on the London Stock Exchange (LSE) at a volume-weighted average price of £25.7534 per share and 571,483 shares on Euronext Amsterdam (XAMS) at an average price of €30.3690 per share, both on December 1, 2023. These shares were purchased for cancellation, which reduces the total number of outstanding shares. This matters to investors because share buybacks can increase earnings per share and potentially boost the stock price by making each remaining share more valuable.

Why It Matters

Share buybacks reduce the number of outstanding shares, which can increase earnings per share and potentially drive up the stock price, benefiting existing shareholders.

Risk Assessment

Risk Level: low — Share buybacks are generally seen as a positive use of capital, indicating financial health and a commitment to shareholder returns.

Analyst Insight

A smart investor would view this as a positive signal of management's confidence and commitment to returning value to shareholders, potentially indicating a stable or increasing stock price in the short to medium term.

Key Numbers

• 577,797 — Shares purchased on LSE (part of the total shares bought back for cancellation)
• £25.7534 — Volume weighted average price per share on LSE (the average cost of shares bought back in GBP)
• 571,483 — Shares purchased on XAMS (part of the total shares bought back for cancellation)
• €30.3690 — Volume weighted average price per share on XAMS (the average cost of shares bought back in EUR)

Key Players & Entities

• Shell plc (company) — the company repurchasing its own shares
• London Stock Exchange (LSE) (company) — trading venue for share purchases
• Euronext Amsterdam (XAMS) (company) — trading venue for share purchases
• December 1, 2023 (date) — date of share purchases
• January 5, 2024 (date) — filing date of the 6-K report

Forward-Looking Statements

• The reduction in outstanding shares will lead to a slight increase in Shell's earnings per share (EPS) for the next reporting period. (Shell plc) — high confidence, target: Q4 2023 earnings report
• Shell plc will continue its share buyback program as part of its capital allocation strategy. (Shell plc) — medium confidence, target: Next 12 months

FAQ

Filing Documents

• f6k_010524.htm (6-K) — 219KB
• 0001171843-24-000084.txt ( ) — 220KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2024 Commission File Number: 1-32575 Shell plc (Exact name of registrant as specified in its charter) England and Wales (Jurisdiction of incorporation or organization) Shell Centre London, SE1 7NA United Kingdom (Address of principal executive office) ________________________________ Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [ X ] Form 40-F [ ] Transaction in Own Shares December 01, 2023 Shell plc (the 'Company') announces that on 01 December 2023 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 01/12/2023 577,797 25.8900 25.5950 25.7534 LSE GBP 01/12/2023 - - - - Chi-X (CXE) GBP 01/12/2023 - - - - BATS (BXE) GBP 01/12/2023 571,483 30.5350 30.1900 30.3690 XAMS EUR 01/12/2023 - - - - CBOE DXE EUR 01/12/2023 - - - - 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 2 November 2023. In respect of this programme, Goldman Sachs International will make trading decisions in relation to the securities independently of the Company for a period from 2 November 2023 up to and including 26 January 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 12 of the 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 Goldman Sachs International 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 20231201_Shell RNS - full version (https://ml-eu.globenewswire.com/Resource/Download/004df926-8ae1-4e83-a3b2-83fc3ec91d02) Transaction in Own Shares December 04, 2023 Shell plc (the 'Company') announces that on 04 December 2023 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 04/12/2023 1,331,549 25.4700 25.0650 25.3060 LSE GBP 04/12/2023 266,591 25.4650 25.0750 25.3067 Chi-X (CXE) GBP 04/12/2023 504,200 25.4650 25.0650 25.3155 BATS (BXE) GBP 04/12/2023 1,478,400 30.1250 29.6550 29.9525 XAMS EUR 04/12/2023 405,500 30.1200 29.6600 29.9485 CBOE DXE EUR 04/12/2023 75,088 30.1150 29.6700 29.9412 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 2 November 2023. In respect of this programme, Goldman Sachs International will make trading decisions in relation to the securities independently of the Company for a period from 2 November 2

View Full Filing

View this 6-K filing on SEC EDGAR