Shell PLC (“Shell”) Statement RE BP PLC (“BP”)
In response to recent media speculations, Shell wants to make it clear that he is not actively considering BP’s offers, making sure it is not taking an approach and that there is no consultation with BP.
This is a statement to which Rule 2.8 of the Code applies, and accordingly the Shell confirms that it is not intending to make a BP offer. As a result, the shell is bound by the restrictions stated in Rule 2.8 of the code.
We continue to focus on delivering more value with less emissions through performance, discipline and simplification.
Under Note 2 of Rule 2.8 of the Code, the Shell reserves the right to set the limits of Rule 2.8 aside in the following circumstances:
By agreement of BP’s board of directors. If a third party announces its solid intention to make a BP offer. If BP announces a Rule 9 exemption (see Note 1 on Dispensing from Rule 9) or an opposite acquisition (as defined in the Code). And if there is a significant change in the situation (as determined by the Takeover Panel).
The details of this announcement are available at www.shell.com.
The content of the website mentioned in this announcement is not incorporated into or form part of this announcement.
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