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2018-11-02 11:35:00

SHELL: THE SECOND BUYBACK

SHELL: THE SECOND BUYBACK

SHELLRoyal Dutch Shell plc (the 'company') announces the commencement of trading in the second tranche of its share buyback programme previously announced on July 26, 2018. The company's intention is to buy back at least $25 billion of its shares by the end of 2020, subject to further progress with debt reduction and oil price conditions.

On October 19, 2018 the company completed the first tranche of its share buyback programme (the 'initial tranche'). In aggregate between July 26, 2018 and October 19, 2018, the company repurchased 60,844,806 A ordinary shares for an aggregate consideration of $2 billion.

The maximum number of ordinary shares which may be purchased by the company under the second tranche of its share buyback programme (the 'second tranche') is 773,155,194, which is the maximum pursuant to the authority granted by shareholders at the company's 2018 Annual General Meeting[1] minus the number of ordinary shares purchased in the initial tranche.

In the second tranche, the company has entered into an irrevocable, non-discretionary arrangement with a broker to enable the purchase of A ordinary shares and/or B ordinary shares for a period up to and including January 28, 2019. The aggregate maximum consideration for the purchase of A ordinary shares and/or B ordinary shares under the second tranche is $2.5 billion. The shares bought back under the second tranche will be whichever of the A ordinary shares and/or B ordinary shares is economically the least expensive on a given trading day.

The broker will make its trading decisions in relation to the company's securities independently of the company. The second tranche will be carried out on the London Stock Exchange and/or on CBOE Europe Equities and will be effected within certain pre-set parameters. It will be conducted in accordance with the company's general authority to repurchase shares granted by its shareholders at the company's Annual General Meeting held on May 22, 20181, and in line with Chapter 12 of the Listing Rules, Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buyback programmes and the Commission Delegated Regulation (EU) 2016/1052.

The purpose of the second tranche is to reduce the issued share capital of the company to offset the number of shares issued under the Scrip Dividend Programme and to significantly reduce the equity issued in connection with the company's combination with BG Group. All shares repurchased as part of the second tranche will be cancelled.

Any further tranches of the buyback programme, which may be conducted after completion of the second tranche, will be announced in due course.

[1] The existing shareholder authority to buy back shares granted at the company's 2018 Annual General Meeting expires at the earlier of the close of business on August 22, 2019, and the end of the date of the company's 2019 Annual General Meeting. The company expects to seek renewal of shareholder authority to buy back shares at subsequent Annual General Meetings.

 

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Earlier:

 SHELL SELLS $1.9 BLN
2018, October, 19, 10:30:00

SHELL SELLS $1.9 BLN

SHELL - Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has reached an agreement with publicly listed Norwegian Energy Company ASA (Noreco), to sell its shares in Shell Olie-og Gasudvinding Danmark B.V. (SOGU) for a consideration amount of $1.9 billion. SOGU is a wholly-owned Shell subsidiary that holds a 36.8% non-operating interest in the Danish Underground Consortium (DUC).

 

 SHELL LNG INVESTMENT: $30 BLN
2018, October, 3, 08:20:00

SHELL LNG INVESTMENT: $30 BLN

SHELL - Shell Canada Energy, an affiliate of Royal Dutch Shell plc (“Shell”), today announced it has taken a final investment decision (FID) on LNG Canada, a major liquified natural gas (LNG) project in Kitimat, British Columbia, Canada, in which Shell has a 40% working interest. With LNG Canada’s joint venture participants also having taken FID, construction will start immediately with first LNG expected before the middle of the next decade. Shell’s 40% share of the project’s capital cost is within the company’s current overall capital investment guidance of US$25-$30 billion per year.

 

 SHELL EARNINGS $4.7 BLN
2018, July, 27, 12:20:00

SHELL EARNINGS $4.7 BLN

SHELL - the main numbers for this quarter: $4.7 billion earnings on a current cost of supplies basis excluding identified items. $9.5 billion cash flow from operations $9.5 billion free cash flow and all of this at an oil price of $74 per barrel. Return on average capital employed reached 6.5%. Since the beginning of the year we reduced net debt by some $4 billion and gearing was 23.6% at the end of the second quarter. This performance builds upon the strong results delivered in 2017.

 

SHELL SELLS CANADA $3.3 BLN
2018, May, 8, 10:35:00

SHELL SELLS CANADA $3.3 BLN

SHELL - Royal Dutch Shell plc (“Shell”) announces an agreement to sell its entire stake in Canadian Natural Resources Limited (“Canadian Natural”)

 

 SHELL NET INCOME $5.9 BLN
2018, April, 27, 10:35:00

SHELL NET INCOME $5.9 BLN

SHELL - Compared with the first quarter 2017, CCS earnings attributable to shareholders excluding identified items increased by $1.6 billion, mainly driven by higher contributions from Integrated Gas and Upstream, partly offset by lower earnings in Downstream. Cash flow from operating activities for the first quarter 2018 was $9.4 billion, which included negative working capital movements of $0.9 billion, compared with $9.5 billion in the first quarter 2017, which included negative working capital movements of $1.6 billion. Total dividends distributed to shareholders in the quarter were $4.0 billion.

 SHELL SELLS ARGENTINA $0.95 BLN
2018, April, 25, 09:35:00

SHELL SELLS ARGENTINA $0.95 BLN

SHELL - Shell has signed an agreement to sell its Downstream business in Argentina to Raízen for US$0.95 billion in cash proceeds at completion, subject to customary closing conditions. The sale includes the Buenos Aires Refinery, around 645 retail stations, liquefied petroleum gas, marine fuels, aviation fuels, bitumen, chemicals and lubricants businesses, as well as supply and distribution activities in the country. Additionally, after the transaction closes, the businesses acquired by Raízen will continue their relationships with Shell through various commercial agreements, which represent an estimated value of US$0.3 billion.

 SHELL GROWTH AMBITIONS
2018, March, 23, 08:30:00

SHELL GROWTH AMBITIONS

SHELL - Shell reiterated its expectation of $6-7 billion annual organic free cash flow from Downstream by 2020, at $60 per barrel (real terms 2016) and mid-cycle Downstream conditions, with $9-12 billion expected by 2025. The company plans to invest $7-9 billion a year across Downstream, and to deliver a return on average capital employed (ROACE) above 15%.

 
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