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Shell plc (NYSE:SHEL) executed a substantial share repurchase program on September 26, 2025, buying back shares across multiple European trading venues. The energy giant acquired 499,035 shares on the London Stock Exchange (LSE) and associated platforms at prices ranging from £27.0850 to £27.3900. Simultaneously, Shell repurchased 449,381 shares on European exchanges, including XAMS and CBOE DXE, at prices fluctuating between €31.1100 and €31.5200.
The buyback is part of Shell’s previously announced program, unveiled on July 31, 2025, and slated to continue through October 24, 2025. HSBC Bank plc is managing the repurchase independently, navigating both on-market and off-market acquisitions within a pre-defined framework designed to comply with stringent UK and EU regulations.
Positive
Strategic share buyback demonstrates confidence in company’s financial position
Multi-exchange execution strategy optimizes share repurchase efficiency
Program helps improve shareholder value through reduction of outstanding shares
Negative
Significant cash outflow for share repurchases could impact available capital for other investments
Complex regulatory framework across UK and EU markets may increase operational complexity
Shell continues its share buyback program, repurchasing 948,416 shares across various exchanges as part of its previously announced capital return strategy.
Shell has continued executing its share buyback program by repurchasing a total of 948,416 shares across multiple trading venues on September 26, 2025. On the London Stock Exchange and related platforms, the company bought back 499,035 shares at prices ranging from £27.09 to £27.39, with volume-weighted average prices around £27.25. On European exchanges, Shell acquired 449,381 shares at prices between €31.11 and €31.52, with average prices near €31.34.
This buyback activity is part of Shell’s previously announced program from July 31, 2025, which continues through October 24, 2025. The repurchase structure includes both on-market and off-market components, with HSBC Bank making independent trading decisions within pre-established parameters.
Share buybacks typically signal management’s confidence in the company’s financial position and future prospects. By reducing the number of outstanding shares, Shell can potentially increase earnings per share and return value to shareholders. These repurchases demonstrate Shell’s commitment to its capital return strategy, leveraging its strong cash position to benefit shareholders through direct capital returns rather than solely through dividends.
The buyback is being conducted in accordance with UK Listing Rules and relevant market abuse regulations, with proper disclosures of individual trades as required by regulatory frameworks. This transparent approach to capital allocation provides investors with clear visibility into how Shell is deploying its financial resources.
09/26/2025 – 12:38 PM
Transaction in Own Shares
26 September, 2025
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 26 September, 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
26/09/2025
213,917
£27.3900
£27.0850
£27.2459
LSE
GBP
26/09/2025
147,145
£27.3850
£27.0850
£27.2493
Chi-X (CXE)
GBP
26/09/2025
137,973
£27.3900
£27.0850
£27.2584
BATS (BXE)
GBP
26/09/2025
289,012
€31.5200
€31.1100
€31.3373
XAMS
EUR
26/09/2025
160,369
€31.5200
€31.1100
€31.3475
CBOE DXE
EUR
26/09/2025
–
–
–
–
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 31 July 2025.
In respect of this programme, HSBC Bank plc will make trading decisions in relation to the securities independently of the Company for a period from 31 July 2025 up to and including 24 October 2025.
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 HSBC Bank 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
LEI number of Shell plc: 21380068P1DRHMJ8KU70
Classification: Acquisition or disposal of the issuer’s own shares
Shell RNS (Extended) 20250926
How many shares did Shell (SHEL) purchase on September 26, 2025?
Shell purchased 499,035 shares across London exchanges (LSE, Chi-X, and BATS) and 449,381 shares on European exchanges (XAMS and CBOE DXE) on September 26, 2025.
What is the duration of Shell’s current share buyback programme?
The current buyback programme runs from July 31, 2025, through October 24, 2025, with HSBC Bank plc making independent trading decisions.
What was the price range for Shell’s share purchases on September 26, 2025?
On London exchanges, shares were purchased between £27.0850 and £27.3900, while on European exchanges, the price range was €31.1100 to €31.5200.
Who executes Shell’s share buyback programme?
HSBC Bank plc executes the programme independently of Shell, making trading decisions within pre-set parameters.
What regulations govern Shell’s share buyback programme?
The programme is governed by UK Listing Rules, EU MAR (Market Abuse Regulation), UK MAR, and the EU MAR Delegated Regulation, including post-Brexit adaptations.
