Shell plc (the ‘company’) on 28 July, 2022 announced the commencement of a $6 billion share buyback programme covering an aggregate contract term of approximately three months (the ‘programme’). The purpose of the programme is to reduce the issued share capital of the company. All shares repurchased as part of the programme will be cancelled. It is intended that, subject to market conditions, the programme will be completed prior to the company’s Q3 results announcement, scheduled for October 27, 2022.
The company has entered into an arrangement to enable the purchase of ordinary shares on both London market exchanges (the London Stock Exchange and/or on BATS and/or on Chi-X) and Netherlands exchanges (Euronext Amsterdam and/or on CBOE Europe DXE and/or on Turquoise Europe) for a period up to and including October 21, 2022. The aggregate maximum consideration for the purchase of ordinary shares under the London contracts is $3.6 billion and the maximum consideration for the purchase of ordinary shares under the Netherlands contract is $2.4 billion. Purchases under the London contracts will be carried out in accordance with the company’s authority to repurchase shares onmarket and will be effected within certain contractually agreed parameters. Purchases under the Netherlands contract will be carried out in accordance with the company’s authority to repurchase shares off-market pursuant to the off-market share buyback contract approved by its shareholders and the parameters set out therein.
The maximum number of ordinary shares which may be purchased or committed to be purchased by the company under the programme (across all three contracts) is 758,000,000, which is the maximum pursuant to the relevant authorities granted by shareholders at the company's 2022 Annual General Meeting.
The data in the spreadsheet will be updated weekly on Wednesday for the previous week’s transactions.