Transaction in Own Shares
Rhea-AI Summary
Shell (SHEL) announces on 28 November 2025 it purchased 1,486,151 shares for cancellation under its ongoing buy-back programme announced 30 October 2025.
Purchases by trading venue: 745,731 shares on LSE at VWAP £27.8192, and 740,420 shares on XAMS at VWAP €31.8187. No trades were reported on Chi-X, BATS, CBOE DXE or TQEX for the date.
The programme is managed by Merrill Lynch International (making independent trading decisions) and runs from 30 October 2025 up to and including 30 January 2026, conducted under UK MAR and EU MAR rules and the company’s repurchase authorities.
Positive
- Total shares repurchased of 1,486,151 on 28/11/2025
- LSE VWAP £27.8192 and XAMS VWAP €31.8187 reported
- Buy-back runs through 30 January 2026 under authorised programme
Negative
- No purchases reported on Chi-X, BATS, CBOE DXE, TQEX for 28/11/2025
- Transactions limited to two venues on reporting date, reducing execution diversity
News Market Reaction
On the day this news was published, SHEL gained 0.49%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers showed mixed, low-magnitude moves with CVX (-0.07%), XOM (+0.36%), TTE (+0.02%), BP (-0.53%), and PBR (-0.41%), suggesting this buy-back disclosure was more stock-specific than a broad Energy sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 10 | Share buy-back | Positive | +0.5% | Reported 1,507,757 shares bought back and cancelled under ongoing programme. |
| Dec 09 | Share buy-back | Positive | -0.2% | Disclosed 1,500,759 shares repurchased across LSE and XAMS with stated VWAPs. |
| Dec 08 | Share buy-back | Positive | -0.4% | Detailed multi-venue repurchases on 08 Dec under the existing buy-back. |
| Dec 08 | Dividend details | Positive | -0.4% | Confirmed Q3 2025 interim dividend of US$0.358 with euro and GBP equivalents. |
| Dec 05 | Share buy-back | Positive | -2.0% | Announced 1,485,081 shares repurchased and cancelled on 05 Dec 2025. |
Recent disclosures are dominated by recurring buy-back updates and one dividend notice. Despite generally shareholder-friendly actions, price reactions have been small and often negative, indicating limited short-term upside response to these announcements.
Over the last weeks, Shell has repeatedly reported daily share repurchases under its ongoing buy-back programme, with multiple updates in early December 2025 documenting cancellations of around 1.5 million shares per day across LSE, BATS, and XAMS venues. A separate dividend notice on Dec 8 confirmed a US$0.358 per-share interim payout with euro and sterling equivalents. Taken together, recent news highlights consistent capital returns via both buy-backs and cash dividends.
Market Pulse Summary
This announcement details further share repurchases for cancellation under Shell’s existing buy-back programme, with specific volumes and VWAPs reported for LSE and XAMS on 28 November 2025. It follows a series of similar buy-back updates and a recent interim dividend of US$0.358 per share, underscoring an ongoing capital return strategy. Investors may track cumulative shares cancelled, programme duration through 30 January 2026, and how these actions interact with broader Energy sector dynamics.
Key Terms
volume weighted average price technical
EU MAR regulatory
UK MAR regulatory
AI-generated analysis. Not financial advice.
Transaction in Own Shares
28 November, 2025
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 28 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 |
| 28/11/2025 | 745,731 | 27.9350 | 27.6700 | 27.8192 | LSE | GBP |
| 28/11/2025 | - | - | - | - | Chi-X (CXE) | GBP |
| 28/11/2025 | - | - | - | - | BATS (BXE) | GBP |
| 28/11/2025 | 740,420 | 31.9550 | 31.5950 | 31.8187 | XAMS | EUR |
| 28/11/2025 | - | - | - | - | CBOE DXE | EUR |
| 28/11/2025 | - | - | - | - | 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 shares did Shell (SHEL) repurchase on 28 November 2025?
What were the VWAPs for Shell (SHEL) buybacks on 28 November 2025?
Who executed Shell's (SHEL) buy-back trades and for what period?
Are Shell's (SHEL) buy-back transactions compliant with market rules?
Which trading venues reported Shell (SHEL) purchases on 28/11/2025?
