Shell’s voting rights held by Norges Bank dip below 3% threshold

Norges Bank, the central bank of Norway, has notified Shell (LON:) plc about a series of significant changes to its shareholding in the company. The series of notifications were delayed due to an administrative error and were received by Anthony Clarke, Shell’s Deputy Company Secretary, on November 1, 2023.

The communications from Norges Bank followed the TR-1 standard form and indicated that major shareholding thresholds had been crossed twice. Initially, in August 2022, Norges Bank’s acquisition of shares led its voting rights in Shell to exceed the 3% notifiable threshold. At this point, the bank held 3.017190% of Shell’s voting rights, which included direct shares (3.015200%) and financial instruments (0.001990%), totaling 220,180,863 voting rights.

However, by the end of October 2023, Norges Bank’s shareholding had decreased below the 3% threshold again. The bank now holds 2.984360% of Shell’s voting rights, all from direct shares, reducing their total voting rights to 197,118,319.

These significant developments related to Norges Bank’s shareholding in Shell plc were acknowledged by Anthony Clarke, Deputy Company Secretary at Shell.

InvestingPro Insights

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