This announcement details further execution of Shell’s existing share buy-back programme, including ...
Analysis
This announcement details further execution of Shell’s existing share buy-back programme, including venue-specific volumes and prices on 28 January 2026, with purchases for cancellation on LSE and XAMS. Trades were carried out by Merrill Lynch International under preset parameters and in compliance with EU MAR and UK MAR frameworks. Investors may monitor ongoing daily repurchase volumes, programme end dates, and related regulatory filings to understand how continued cancellations interact with broader sector trends and Shell’s capital return strategy.
Key Figures
LSE shares repurchased:522,088 sharesLSE VWAP:27.3486 GBPLSE price range:27.1250–27.4800 GBP+5 more
8 metrics
LSE shares repurchased522,088 sharesFor cancellation on 28/01/2026 at LSE
LSE VWAP27.3486 GBPVolume weighted average price on 28/01/2026
LSE price range27.1250–27.4800 GBPLowest and highest prices paid 28/01/2026
XAMS shares repurchased558,871 sharesFor cancellation on 28/01/2026 at XAMS
XAMS VWAP31.6169 EURVolume weighted average price on 28/01/2026
XAMS price range31.3500–31.7850 EURLowest and highest prices paid 28/01/2026
MAR reference596/2014/EUMarket Abuse Regulation cited for buy-back compliance
Programme period end30 January 2026End date for Merrill Lynch International trading period
Notification of LSE and XAMS repurchases for cancellation under programme.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent buy-back disclosures have produced mixed reactions: 2 sessions with positive moves and 3 with declines after similar "Transaction in Own Shares" announcements, suggesting no consistent near-term price pattern around these updates.
Recent Company History
Over the past weeks, Shell has repeatedly reported daily share repurchases for cancellation under its buy-back programme, with updates on Jan 20, 21, 22, 23, and 26 2026. Each notice detailed LSE and XAMS volumes and volume‑weighted average prices, with trades executed by Merrill Lynch International within EU/UK MAR frameworks. Price reactions over the following 24 hours ranged from about -1.88% to +1.84%, indicating that similar buy-back disclosures have led to both gains and pullbacks in the short term.
Key Terms
share buy-back programme, EU MAR, UK MAR, Listing Rules, +2 more
6 terms
share buy-back programmefinancial
"These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme..."
A share buy-back programme is when a company purchases its own shares from the market. This reduces the total number of shares available, which can increase the value of remaining shares and signal confidence in the company's future. For investors, it can be a sign that the company believes its stock is undervalued and may lead to higher share prices.
EU MARregulatory
"Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (“EU MAR”)..."
EU MAR is the European Union’s Market Abuse Regulation, a set of rules designed to keep financial markets fair by stopping insider trading and market manipulation and by requiring timely, accurate public disclosure of inside information. Think of it as traffic laws for trading: it sets who can share sensitive information, how it must be disclosed, and penalties for breaking the rules, which matters to investors because stronger rules reduce surprises, boost trust, and affect companies’ legal and reporting costs.
UK MARregulatory
"and the EU MAR Delegated Regulation as “onshored” into UK law... from time to time (“UK MAR”)..."
UK MAR is the UK Market Abuse Regulation, a set of laws designed to prevent insider trading, market manipulation and other dishonest practices in financial markets while setting rules for how companies must disclose important information. It matters to investors because it helps ensure a fair playing field and timely, reliable disclosures so price changes reflect real news rather than secret deals—think of it as the rulebook that keeps the market honest and predictable.
Listing Rulesregulatory
"The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5..."
Listing rules are the set of requirements a stock exchange and regulators impose on companies to join and stay on the exchange, covering things like financial reporting, disclosures, governance and minimum size. They matter to investors because those rules create a basic level of transparency and behavior—think of them as marketplace rules that make it easier to compare sellers, reduce surprises, and protect liquidity and value; breaking the rules can lead to fines, trading suspensions or delisting.
off-market buyback contractfinancial
"off-market limb will be effected in accordance with the Company’s general authority to repurchase shares off-market pursuant to the off-market buyback contract..."
An off-market buyback contract is an agreement where a company agrees to repurchase its shares directly from a specific investor or group of investors, outside of the regular stock exchange or public trading. This allows the company to buy back shares privately, often at a negotiated price, which can influence the company's stock value and impact investor holdings. Such contracts matter to investors because they can affect the supply of shares and the company's financial strategy.
volume weighted average pricefinancial
"Volume weighted average price paid per share | Venue | Currency"
The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.
Shell plc (the ‘Company’) announces that on 28 January, 2026 it purchased the following number of Shares for cancellation.
Aggregated information on Shares purchased according to trading venue:
Date of purchase
Number of Shares purchased
Highest price paid
Lowest price paid
Volume weighted average price paid per share
Venue
Currency
28/01/2026
522,088
27.4800
27.1250
27.3486
LSE
GBP
28/01/2026
-
-
-
-
Chi-X (CXE)
GBP
28/01/2026
-
-
-
-
BATS (BXE)
GBP
28/01/2026
558,871
31.7850
31.3500
31.6169
XAMS
EUR
28/01/2026
-
-
-
-
CBOE DXE
EUR
28/01/2026
-
-
-
-
TQEX
EUR
These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 30 October 2025.
In respect of this programme, Merrill Lynch International will make trading decisions in relation to the securities independently of the Company for a period from 30 October 2025 up to and including 30 January 2026.
The on-market limb will be effected within certain pre-set parameters and in accordance with the Company’s general authority to repurchase shares on-market. The off-market limb will be effected in accordance with the Company’s general authority to repurchase shares off-market pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein. The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (“EU MAR”) and EU MAR as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time (“UK MAR”) and the Commission Delegated Regulation (EU) 2016/1052 (the “EU MAR Delegated Regulation”) and the EU MAR Delegated Regulation as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.
In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by Merrill Lynch International on behalf of the Company as a part of the buy-back programme is detailed below.
Enquiries
Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html
How many shares did Shell (SHEL) repurchase and cancel on 28 January 2026?
Shell repurchased and cancelled 1,080,959 shares on 28 January 2026. According to the company, purchases occurred on LSE and XAMS as part of its existing buy-back programme announced 30 October 2025.
What were the VWAPs for Shell (SHEL) share purchases on 28 January 2026?
The reported VWAPs were £27.3486 on LSE and €31.6169 on XAMS. According to the company, these figures reflect the volume-weighted average prices for the trades executed on those venues.
Which trading venues did Shell (SHEL) use for the 28 January 2026 buybacks?
Shell executed purchases on LSE and XAMS on 28 January 2026. According to the company, other listed venues showed no executed trades for that date under the aggregated breakdown.
Is the 28 January 2026 share buyback part of an ongoing Shell (SHEL) programme?
Yes, the purchases form part of Shell's ongoing buy-back programme announced on 30 October 2025. According to the company, the programme operates under pre-set parameters and UK/EU market abuse rules.
Who made trading decisions for Shell (SHEL) buybacks under the programme and what was the period?
Merrill Lynch International made trading decisions independently for the programme through the specified mandate. According to the company, that delegated period ran from 30 October 2025 up to and including 30 January 2026.
