Shell (SHEL) purchased 1,578,317 shares for cancellation on 19 March 2026 across multiple trading venues. Aggregated volume-weighted average prices were ~GBP 34.45 on UK venues and ~EUR 39.95 on continental European venues. Purchases form part of the buy-back programme running 05 February–01 May 2026.
Transactions were executed on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX, with Morgan Stanley & Co. International Plc trading independently under pre-set parameters and applicable EU MAR/UK MAR rules.
This announcement details additional repurchases for cancellation under Shell’s buy-back programme r...
Analysis
This announcement details additional repurchases for cancellation under Shell’s buy-back programme running from 05 February to 01 May 2026, with venue-level volumes and prices in GBP and EUR. It follows several similar daily disclosures and a Q4 2025 dividend of US$0.372 per share. Investors may watch cumulative buy-back volumes, the programme’s end-date, and future capital return decisions alongside broader energy-sector developments and regulatory filings.
326,683 shares bought for cancellation under February–May 2026 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 and dividend announcements have been followed by positive 24h price reactions.
Recent Company History
Over the past week, Shell reported multiple daily "Transaction in Own Shares" updates and a Q4 2025 dividend detail. Buy-back disclosures on 13–18 March 2026 showed repeated share cancellations across UK and European venues, with Morgan Stanley executing under the programme running from 05 February to 01 May 2026. A dividend release on 16 March 2026 set the Q4 2025 interim dividend at US$0.372 per share with euro and sterling equivalents. Each of these events saw positive next-day price moves between 0.85% and 1.77%.
Key Terms
share buy-back programme, off-market buyback contract, uk listing rules, eu mar, +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.
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.
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
"...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..."
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.
"...including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time."
A set of UK rules that update the law on insider trading, market manipulation and related disclosure duties to reflect the country’s departure from the EU. It is essentially an updated rulebook that keeps enforcement powers, reporting requirements and protections for honest investors working smoothly after the legal change; investors care because it clarifies what behaviour is illegal, how markets stay fair, and what companies must disclose.
Shell plc (the ‘Company’) announces that on 19 March 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
19/03/2026
477,408
34.8550
34.1250
34.4528
LSE
GBP
19/03/2026
229,439
34.7600
34.1100
34.4543
Chi-X (CXE)
GBP
19/03/2026
101,816
34.7150
34.1600
34.4662
BATS (BXE)
GBP
19/03/2026
445,101
40.3500
39.4850
39.9507
XAMS
EUR
19/03/2026
271,362
40.2650
39.5100
39.9338
CBOE DXE
EUR
19/03/2026
53,191
40.2350
39.5200
39.9043
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 05 February 2026.
In respect of this programme, Morgan Stanley & Co. International Plc will make trading decisions in relation to the securities independently of the Company for a period from 05 February 2026 up to and including 01 May 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 Morgan Stanley & Co. International Plc 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 on 19 March 2026?
Shell repurchased 1,578,317 shares on 19 March 2026. According to the company, those shares were bought for cancellation across multiple trading venues under its ongoing buy-back programme.
What price levels did Shell (SHEL) pay for the shares on 19 March 2026?
Shell's trades showed VWAPs of roughly GBP 34.45 and EUR 39.95 on 19 March 2026. According to the company, highest and lowest trade prices per venue are disclosed in the aggregated table.
Is the 19 March 2026 buy-back part of a larger Shell (SHEL) programme?
Yes. The purchases form part of Shell's buy-back programme active from 05 February to 01 May 2026. According to the company, the programme includes both on-market and off-market limbs under pre-set parameters.
Which broker executed Shell's (SHEL) buy-back trades on 19 March 2026?
Morgan Stanley & Co. International Plc executed the trades independently for Shell. According to the company, Morgan Stanley traded under pre-set parameters between 05 February and 01 May 2026.
On which trading venues did Shell (SHEL) execute the 19 March 2026 purchases?
Shell executed purchases on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX. According to the company, the aggregated breakdown by venue is provided for 19 March 2026.
Were the shares repurchased by Shell (SHEL) cancelled or held as treasury stock?
The repurchased shares were bought for cancellation on 19 March 2026. According to the company, the announcement specifies that the shares purchased that day are to be cancelled.
