Transaction in Own Shares
Rhea-AI Summary
Shell (SHEL) purchased shares for cancellation on 31 December 2025 under its existing buy-back programme announced on 30 October 2025. Aggregated trades reported: 297,575 shares on LSE at a volume-weighted average price of £27.3601 and 264,431 shares on XAMS at a volume-weighted average price of €31.3902.
Merrill Lynch International will make trading decisions independently for the programme from 30 October 2025 through 30 January 2026. The programme is being conducted in accordance with UK Listing Rules Chapter 9 and UK MAR/EU MAR requirements.
Positive
- 297,575 shares repurchased on LSE (VWAP £27.3601)
- 264,431 shares repurchased on XAMS (VWAP €31.3902)
- Buy-back executed under existing programme announced 30 Oct 2025
- Independent broker (Merrill Lynch) trading through 30 Jan 2026
Negative
- Aggregate number of shares repurchased across all venues not summed
- Aggregate cash value of purchases not disclosed
- No trades reported on Chi-X, BATS, CBOE DXE, TQEX for 31/12/2025
Key Figures
Market Reality Check
Peers on Argus
Peers showed mixed moves: CVX +0.53%, XOM -0.09%, TTE -0.51%, BP +0.29%, PBR +0.94%. This contrasts with SHEL’s +0.97%, pointing to a more company-specific tone around buy-backs.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 29 | Share buy-back | Positive | +0.4% | Reported buy-back of LSE and XAMS shares under October 2025 programme. |
| Dec 24 | Share buy-back | Positive | -0.3% | Disclosed further buy-back purchases across LSE and XAMS venues. |
| Dec 24 | PDMR shareholding | Neutral | -0.3% | Reported PDMR dividend-share acquisitions following interim dividend payment. |
| Dec 23 | Share buy-back | Positive | +0.7% | Announced purchase and cancellation of over 1.4M shares under buy-back. |
| Dec 22 | Share buy-back | Positive | +0.8% | Detailed 1.46M shares repurchased on LSE and XAMS within ongoing programme. |
Repeated buy-back disclosures over December often coincided with modest positive daily moves, though not uniformly so, indicating generally constructive but not guaranteed reactions.
Over late December 2025, Shell reported several daily buy-back updates and one PDMR shareholding disclosure. Multiple notices on 22–24 and 29 December detailed sizeable repurchases on the LSE and XAMS under the programme announced on 30 October 2025, executed independently by Merrill Lynch International. A separate PDMR filing on 24 December 2025 covered dividend-share acquisitions by senior executives. These events frame today’s additional buy-back activity as a continuation of an established capital-return pattern.
Market Pulse Summary
This announcement details further execution of Shell’s existing share buy-back programme, including 297,575 shares on the LSE and 264,431 on XAMS for cancellation on 31 December 2025. It continues a series of similar disclosures throughout late December. Investors may watch the pace of repurchases, ongoing regulatory compliance under EU/UK MAR, and how these capital-return actions interact with sector conditions and future corporate updates.
Key Terms
uk listing rules regulatory
eu mar regulatory
uk mar regulatory
AI-generated analysis. Not financial advice.
Transaction in Own Shares
31 December, 2025
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 31 December, 2025 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 |
| 31/12/2025 | 297,575 | 27.4150 | 27.2950 | 27.3601 | LSE | GBP |
| 31/12/2025 | - | - | - | - | Chi-X (CXE) | GBP |
| 31/12/2025 | - | - | - | - | BATS (BXE) | GBP |
| 31/12/2025 | 264,431 | 31.5150 | 31.3200 | 31.3902 | XAMS | EUR |
| 31/12/2025 | - | - | - | - | CBOE DXE | EUR |
| 31/12/2025 | - | - | - | - | 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
Attachment
FAQ
How many shares did Shell (SHEL) repurchase on 31 December 2025?
What were the VWAPs for Shell (SHEL) buybacks on 31 December 2025?
Is the 31 December 2025 buyback part of an ongoing programme for Shell (SHEL)?
Who is making trading decisions for Shell (SHEL)’s buyback programme and until when?
Were any trades reported on Chi-X, BATS, CBOE DXE, or TQEX for Shell (SHEL) on 31/12/2025?
