Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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OK Barrie I get you, sorry!!
grippa
The company has authority under Companyues Act to buy that many but the current $2b program which ends on 31 Dec 2021 would fund by my estimate up to 100m shares so the sanction will take some time to work though
The following should provide clarity from the Shell Global Site:
Royal Dutch Shell plc (the ‘company’) announced the commencement of share buybacks on July 29, 2021 as part of its move to the next phase of its capital allocation framework, which includes shareholder distributions in a range of 20-30% of CFFO. 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 December 29, 2021. The aggregate maximum consideration for the purchase of A ordinary shares and/or B ordinary shares is $2.0 billion, of which it is expected that more than half will have been completed by the company’s Q3 results, which are scheduled for October 28, 2021. The purpose of the share buybacks is to reduce the issued share capital of the company. All shares repurchased as part of this arrangement will be cancelled.
The maximum number of ordinary shares which may be purchased by the company under this arrangement is 780,000,000, which is the maximum pursuant to the authority granted by shareholders at the company's 2021 Annual General Meeting . The shares bought back under this arrangement will be whichever of the A ordinary shares and/or B ordinary shares traded in the GBP denomination is economically the least expensive on a given trading day.
I disagree that an input of this magnitude, defined as being completed within only 5-months, will have little impact on the RDSB share price. Obviously we can all do the maths in that it only impacts 2% of Shell shares etc, but share buy-backs are a completely legal support mechanism for Shell's share price. Char is probably right in saying that the Shell shares will not see £14 again, but for the wrong reasons!
Is it not unto 780 million shares to be bought??
Neversellshell22
I saw that too abs assume the company will adopt a softly softly approach ramp ling up its program given the total spend by the calendar year end will (depending on price) see up to 100 million shares bought.
There’s 150 days to go so that’s over half a million daily average purchases allowing for modest price appreciation.
Looking at daily volumes if the company tries to appropriate too many shares it’ll cause price instability and cost them more reducing the number cancelled. An interesting balancing act!
Did I miss something today or where there only about 43 thousand share buy backs today ?