Transaction in Own Shares
Rhea-AI Summary
Shell (SHEL) announced that on 27 November 2025 it purchased and cancelled a total of 1,470,194 shares across trading venues as part of its existing buy-back programme announced 30 October 2025.
Purchases reported: 722,180 shares on LSE (VWAP £27.5232) and 748,014 shares on XAMS (VWAP €31.5143). Merrill Lynch International is executing the programme independently for the period 30 Oct 2025–30 Jan 2026. Transactions comply with UK MAR/EU MAR rules and the company’s on‑ and off‑market authorities; shares were cancelled.
Positive
- Purchased 1,470,194 shares for cancellation on 27 November 2025
- Repurchases executed on LSE and XAMS with VWAPs of £27.5232 and €31.5143
- Buy-back executed under existing programme with independent manager (Merrill Lynch) through 30 Jan 2026
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
Sector peers showed mixed, low-magnitude moves: XOM +0.36%, TTE +0.02%, while CVX -0.07%, BP -0.53%, PBR -0.41%. This points to stock-specific rather than sector-driven factors around Shell’s buy-back update.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 10 | Share buy-back update | Positive | +0.5% | Disclosure of 1.51M shares repurchased and cancelled under ongoing programme. |
| Dec 09 | Share buy-back update | Positive | -0.2% | 1.50M shares bought back across LSE and XAMS with detailed VWAPs. |
| Dec 08 | Share buy-back update | Positive | -0.4% | Multi-venue repurchases on LSE, BATS, XAMS under existing programme. |
| Dec 08 | Dividend currency details | Positive | -0.4% | Q3 2025 interim dividend equivalents set in USD, EUR and GBP. |
| Dec 05 | Share buy-back update | Positive | -2.0% | 1.49M shares cancelled with specified VWAPs on LSE and XAMS. |
Recent buy-back and dividend announcements were generally positive in nature, yet 4 of 5 prior events saw negative next-day moves, indicating a tendency for modest price softness following such disclosures.
Over recent months, Shell has consistently reported on sizeable on- and off-market share repurchases under structured buy-back programmes, alongside a third quarter 2025 interim dividend of US$0.358 per share with euro and sterling equivalents. These events, often executed via independent banks and under UK/EU MAR rules, have usually been followed by small price declines, with only the Dec 10, 2025 buy-back update coinciding with a +0.45% move. Today’s announcement continues this pattern of routine capital return disclosures.
Market Pulse Summary
This announcement details further on- and off-market repurchases on 27 November 2025 under Shell’s existing buy-back programme, with shares cancelled after purchase across London and Amsterdam venues at specified VWAP levels. It extends a clear pattern of regularly disclosed buy-backs executed independently by Merrill Lynch International within a defined window and under UK/EU MAR rules. Investors may watch cumulative repurchase volumes and future capital return updates alongside broader sector developments.
Key Terms
volume weighted average price technical
on-market limb financial
AI-generated analysis. Not financial advice.
Transaction in Own Shares
27 November, 2025
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 27 November, 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 |
| 27/11/2025 | 722,180 | 27.6550 | 27.4100 | 27.5232 | LSE | GBP |
| 27/11/2025 | - | - | - | - | Chi-X (CXE) | GBP |
| 27/11/2025 | - | - | - | - | BATS (BXE) | GBP |
| 27/11/2025 | 748,014 | 31.6300 | 31.4050 | 31.5143 | XAMS | EUR |
| 27/11/2025 | - | - | - | - | CBOE DXE | EUR |
| 27/11/2025 | - | - | - | - | 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 Shell (SHEL) shares were repurchased on 27 November 2025?
What were the VWAPs for Shell (SHEL) share purchases on 27 November 2025?
Is Shell's buy-back programme for SHEL still active and what is the execution window?
Were the Shell (SHEL) buy-back transactions executed on multiple venues on 27 November 2025?
Will the Shell (SHEL) repurchased shares be cancelled or held as treasury?
Under which rules was the Shell (SHEL) buy-back conducted on 27 November 2025?
