Shell (SHEL) repurchased 1,360,000 shares for cancellation on 11 May 2026 as part of its ongoing share buyback programme.
Purchases were executed by Goldman Sachs International on the LSE, Chi-X and BATS at volume-weighted average prices around £31.26–£31.27 per share, under UK and EU MAR rules.
LSE shares repurchased1,000,000 sharesRepurchased for cancellation on 11/05/2026 on LSE
Chi-X shares repurchased250,000 sharesRepurchased for cancellation on 11/05/2026 on Chi-X (CXE)
BATS shares repurchased110,000 sharesRepurchased for cancellation on 11/05/2026 on BATS (BXE)
VWAP LSE£31.2742 per shareVolume weighted average price on LSE, 11/05/2026
VWAP Chi-X£31.2650 per shareVolume weighted average price on Chi-X (CXE), 11/05/2026
VWAP BATS£31.2587 per shareVolume weighted average price on BATS (BXE), 11/05/2026
Buyback window07 May 2026 to 24 July 2026Period during which Goldman Sachs executes programme independently
Brexit transition end31 December 2020, 11:00 pmReference time for onshoring EU MAR into UK law
Market Reality Check
Price:$85.36Vol:Volume 7,799,116 is sligh...
normal vol
$85.36Last Close
VolumeVolume 7,799,116 is slightly below the 20-day average of 8,554,804, suggesting no unusual trading ahead of this disclosure.normal
TechnicalPrice at 85.36 is trading above the 200-day MA of 77.74, indicating a pre-existing upward bias as buybacks continue.
Peers on Argus
SHEL was up 1.66% with large-cap peers also positive: XOM +2.51%, CVX +0.95%, BP...
SHEL was up 1.66% with large-cap peers also positive: XOM +2.51%, CVX +0.95%, BP +0.45%, TTE +0.38%, PBR +0.92%, indicating a supportive Energy backdrop alongside company-specific buybacks.
Common CatalystAt least one peer (TTE) also reported transactions in own shares, pointing to a shared focus on buybacks.
Q1 2026 interim dividend of US$0.3906 per share, US$0.7812 per ADS.
Pattern Detected
Recent buyback and capital return announcements have sometimes seen mixed price reactions, with several positive events coinciding with negative moves.
Recent Company History
This announcement fits an ongoing capital return pattern. On 7 May 2026, Shell launched a $3.0 billion buyback programme and declared a Q1 2026 interim dividend of US$0.3906 per share and US$0.7812 per ADS, with shares falling 3.39%. Subsequent daily buyback disclosures on 7–8 May 2026 reported repurchases around the £31 level, with mixed reactions (+1.66%, -0.32%). A Director/PDMR share disposal on 8 May 2026 also preceded a 1.66% gain, showing no consistent one-directional pattern.
Market Pulse Summary
This announcement details further buybacks under Shell’s programme, with 1,360,000 shares repurchase...
Analysis
This announcement details further buybacks under Shell’s programme, with 1,360,000 shares repurchased for cancellation on 11 May 2026 across LSE, Chi-X and BATS at volume‑weighted prices near £31.26–£31.27. It continues the capital return framework launched on 7 May 2026. Investors may watch the pace of daily repurchases, total shares cancelled by 24 July 2026, and any changes in broader Energy sector conditions.
Key Terms
share buy-back programme, uk listing rules, eu mar, uk mar
4 terms
share buy-back programmefinancial
"These share purchases form part of the Company's share buy-back programme previously announced on 07 May 2026."
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.
uk listing rulesregulatory
"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..."
UK listing rules are a set of regulations that companies must follow to be officially listed on a UK stock exchange. These rules ensure that companies provide clear, accurate, and sufficient information to protect investors and maintain market confidence, similar to how safety standards ensure products are reliable. Adhering to these rules is important for investors because it helps them make informed decisions about buying or selling company shares.
eu marregulatory
"...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..."
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
"...from time to time (“UK MAR”) and the Commission Delegated Regulation (EU) 2016/1052 (the “EU MAR Delegated Regulation”)..."
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.
AI-generated analysis. Not financial advice.
Transaction in Own Shares
11 May, 2026
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 11 May, 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
11/05/2026
1,000,000
£ 31.3850
£ 31.1100
£ 31.2742
LSE
GBP
11/05/2026
250,000
£ 31.3800
£ 31.1100
£ 31.2650
Chi-X (CXE)
GBP
11/05/2026
110,000
£ 31.3750
£ 31.1150
£ 31.2587
BATS (BXE)
GBP
These share purchases form part of the Company's share buy-back programme previously announced on 07 May 2026.
In respect of this programme, Goldman Sachs International will make trading decisions in relation to the securities independently of the Company for a period from 07 May 2026 up to and including 24 July 2026.
Any such share purchases will be effected within certain pre-set parameters and in accordance with the Company’s general authority to repurchase shares. 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 Goldman Sachs International on behalf of the Company as a part of the buy-back programme is detailed below.
What did Shell (SHEL) announce about its share buyback on 11 May 2026?
Shell reported buying 1,360,000 shares for cancellation on 11 May 2026. According to Shell, these repurchases fall under its previously announced buyback programme and were executed across multiple trading venues at volume‑weighted average prices around £31.26–£31.27 per share.
How many Shell (SHEL) shares were repurchased on the London Stock Exchange on 11 May 2026?
Shell repurchased 1,000,000 shares on the London Stock Exchange on 11 May 2026. According to Shell, these LSE trades were executed at prices between £31.1100 and £31.3850, with a volume‑weighted average price of £31.2742 per share under its buyback programme.
At what prices did Shell (SHEL) buy back shares on Chi-X and BATS on 11 May 2026?
Shell’s buybacks on Chi-X and BATS ranged between about £31.11 and £31.38 per share. According to Shell, 250,000 shares on Chi-X and 110,000 on BATS had volume‑weighted average prices of £31.2650 and £31.2587 respectively, within its authorised repurchase parameters.
Who executes Shell’s (SHEL) 2026 buyback trades and over what period?
Goldman Sachs International executes Shell’s 2026 buyback trades independently of the company. According to Shell, Goldman Sachs will make trading decisions between 7 May 2026 and 24 July 2026, operating within pre-set parameters and Shell’s general authority to repurchase shares.
Under which regulations is Shell’s (SHEL) May–July 2026 share buyback conducted?
Shell’s share buyback is conducted under UK MAR and EU MAR rules. According to Shell, the programme follows Chapter 9 of the UK Listing Rules and the onshored EU Market Abuse Regulation, including Delegated Regulation (EU) 2016/1052, as adapted into UK law.
What does Shell’s (SHEL) 11 May 2026 share repurchase mean for outstanding shares?
The repurchased 1,360,000 Shell shares are designated for cancellation, reducing the share count. According to Shell, these transactions are part of its ongoing buyback programme, which aims to cancel acquired shares in line with its authorised capital management framework and regulations.
