Shell Buys Back 2.39M Shares for Cancellation on Jan 2

TL;DR

**Shell bought back 2.39 million shares for cancellation, signaling a potential boost to shareholder value.**

AI Summary

Shell plc announced on February 2, 2024, that it repurchased a total of 2,394,185 ordinary shares for cancellation on January 2, 2024. These shares were bought across three venues: 1,705,000 on the LSE at a volume-weighted average price of £25.7662, 292,000 on Chi-X (CXE) at £25.7675, and 397,185 on BATS (BXE) at £25.7654. This matters to investors because share buybacks reduce the number of outstanding shares, which can boost earnings per share and potentially the stock price, signaling management's confidence in the company's valuation.

Why It Matters

This share buyback reduces the total number of Shell plc shares available on the market, which can increase the value of existing shares by boosting earnings per share and demonstrating management's belief that the stock is undervalued.

Risk Assessment

Risk Level: low — Share buybacks are generally seen as a positive action for shareholders, reducing risk by consolidating ownership and potentially increasing share price.

Analyst Insight

A smart investor would view this share buyback as a positive signal, potentially indicating undervaluation and a commitment to returning capital to shareholders, and might consider holding or increasing their position.

Key Numbers

• 2,394,185 — Total Shares Purchased (The total number of ordinary shares Shell plc bought back for cancellation on January 2, 2024.)
• £25.7662 — LSE Volume Weighted Average Price (The average price Shell plc paid for shares purchased on the London Stock Exchange (LSE).)
• £25.7675 — Chi-X (CXE) Volume Weighted Average Price (The average price Shell plc paid for shares purchased on Chi-X (CXE).)
• £25.7654 — BATS (BXE) Volume Weighted Average Price (The average price Shell plc paid for shares purchased on BATS (BXE).)
• £25.9450 — Highest Price Paid (The highest price Shell plc paid for any share across all venues on January 2, 2024.)

Key Players & Entities

• Shell plc (company) — the registrant that purchased its own shares
• £25.9450 (dollar_amount) — highest price paid per share on LSE and BATS (BXE)
• £25.6300 (dollar_amount) — lowest price paid per share on LSE
• January 2, 2024 (date) — date of the share purchases
• 2,394,185 (dollar_amount) — total number of shares purchased for cancellation

Forward-Looking Statements

• Shell plc's earnings per share (EPS) will likely see a modest increase due to the reduced share count. (Shell plc) — medium confidence, target: Next earnings report
• The share buyback program indicates management's confidence in the company's financial health and future prospects. (Shell plc) — high confidence, target: Ongoing

FAQ

Filing Documents

• f6k_020124.htm (6-K) — 231KB
• 0001171843-24-000538.txt ( ) — 233KB

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 February 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 January 02, 2024 Shell plc (the 'Company') announces that on 02 January 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 02/01/2024 1,705,000 25.9450 25.6300 25.7662 LSE GBP 02/01/2024 292,000 25.9350 25.6250 25.7675 Chi-X (CXE) GBP 02/01/2024 397,185 25.9450 25.6250 25.7654 BATS (BXE) GBP 02/01/2024 - - - - XAMS EUR 02/01/2024 - - - - CBOE DXE EUR 02/01/2024 - - - - 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 20240102_Shell RNS - full version Transaction in Own Shares January 03, 2024 Shell plc (the 'Company') announces that on 03 January 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 03/01/2024 1,583,000 26.0050 25.5450 25.7998 LSE GBP 03/01/2024 283,000 26.0000 25.5550 25.8004 Chi-X (CXE) GBP 03/01/2024 524,204 26.0000 25.5450 25.7871 BATS (BXE) GBP 03/01/2024 - - - - XAMS EUR 03/01/2024 - - - - CBOE DXE EUR 03/01/2024 - - - - 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

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View this 6-K filing on SEC EDGAR