Share buybacks
Shell plc (the 鈥楥ompany鈥�) today announces the commencement of a $3.5 billion share buyback programme covering an aggregate contract term of approximately three months (the 鈥榩rogramme鈥�). 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鈥檚 Q1 2025 results announcement, scheduled for May 2, 2025.
The Company has entered into an arrangement with a single broker consisting of two irrevocable, non-discretionary contracts, 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) (pursuant to one 鈥楲ondon contract鈥�) and Netherlands exchanges (Euronext Amsterdam and/or on CBOE Europe DXE and/or on Turquoise Europe) (pursuant to one 鈥楴etherlands contract鈥�) for a period up to and including April 25, 2025. The aggregate maximum consideration for the purchase of ordinary shares under the London contract is $2.1 billion and the maximum consideration for the purchase of ordinary shares under the Netherlands contract is $1.4 billion. Purchases under the London contract will be carried out in accordance with the Company鈥檚 authority to repurchase shares on-market and will be effected within certain contractually agreed parameters. Purchases under the Netherlands contract will be carried out in accordance with the Company鈥檚 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 both contracts) is 420,000,000, which is the maximum number remaining as of the date of this announcement pursuant to the relevant authorities granted by shareholders at the Company's 2024 麻豆传媒 General Meeting.
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The data in the spreadsheet will be updated weekly on Wednesday for the previous week鈥檚 transactions.