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PARIS - TotalEnergies (EPA:TTEF) SE (Paris:TTE) (LSE:TTE) (NYSE:TTE), the global integrated energy company, has recently completed a significant repurchase of its own shares. Between December 9 and December 13, 2024, the company bought back a total of 3,233,801 shares, spending approximately €175 million. This move comes as part of the authorization granted by the shareholders at the general meeting on May 24, 2024, and in compliance with applicable share repurchase laws.
The transactions were executed over various markets, with the Euronext (EPA:ENX) Paris (MIC Code: XPAR) being the primary platform, where the bulk of the shares were acquired. The average purchase price per share over the course of the week was €54.115834. The repurchase activity saw the highest volume of shares, 491,851, bought on December 12 at an average price of €53.719970 per share, while the lowest volume, 19,432, occurred on December 9 at an average price of €54.747766.
TotalEnergies has disclosed a detailed breakdown of the individual trades on its official website, in line with the Market Abuse Regulation (EU) No 596/2014.
The company, which employs over 100,000 people and operates in around 120 countries, is known for its commitment to delivering reliable, affordable, and sustainable energy. It produces and markets a diverse range of energies, including oil and biofuels, natural gas and green gases, as well as renewables and electricity.
This share repurchase activity is part of TotalEnergies SE's broader strategy, which places sustainability at the core of its operations and projects. TotalEnergies SE has not commented on the specific intent behind the recent repurchases, but such actions typically aim to reduce the number of shares in circulation, potentially increasing the value of remaining shares or to return value to shareholders.
The information regarding TotalEnergies SE's share buyback is based on a press release statement.
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