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Shell plc (NYSE:SHEL) made a notable move on August 26, 2025, executing substantial share repurchases as part of its ongoing capital allocation strategy. The energy giant scooped up a total of 900,000 shares in GBP across major European exchanges like LSE, Chi-X, and BATS, with prices fluctuating between £27.03 and £27.27, according to a company statement.
In a separate but related maneuver, Shell also acquired 1,098,467 shares in EUR through the XAMS and CBOE DXE platforms. This dual-currency approach highlights the breadth and sophistication of Shell’s buyback operations.
These purchases fall under the umbrella of Shell’s previously announced buyback program, unveiled on July 31, 2025. Interestingly, HSBC Bank plc is independently steering the ship on this initiative, with trading decisions carved out until October 24, 2025. The program encompasses both on-market and off-market components, meticulously adhering to UK Listing Rules and Market Abuse Regulations.
Negative
Capital expenditure on buybacks reduces cash available for operational investments
Shell continues systematic share buybacks, purchasing nearly 2M shares across venues as part of its ongoing capital return program.
Shell’s latest share repurchase disclosure reveals the company purchased approximately 1.998 million shares across multiple trading venues on August 26, 2025. On the London Stock Exchange alone, Shell bought back 436,763 shares at prices ranging from £27.03 to £27.26, with a volume-weighted average price of £27.18 per share. Similar transactions occurred on Chi-X, BATS, XAMS, and CBOE DXE platforms.
These repurchases are part of Shell’s structured buyback program previously announced on July 31, 2025, which extends through October 24, 2025. The program operates through both on-market and off-market mechanisms, with HSBC Bank making independent trading decisions within pre-established parameters.
This systematic share reduction reflects Shell’s continued commitment to returning capital to shareholders while potentially enhancing per-share metrics. By reducing outstanding shares, Shell effectively increases each remaining shareholder’s proportional ownership. The buyback’s substantial size – involving millions of pounds in a single day – demonstrates Shell’s robust cash position and management’s confidence in the company’s underlying value. The meticulous regulatory framework surrounding these transactions, including compliance with UK Listing Rules and Market Abuse Regulations, ensures transparency and market integrity throughout the buyback process.
08/26/2025 – 01:09 PM
Transaction in Own Shares
26 August, 2025
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Shell plc (the ‘Company’) announces that on 26 August, 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 |
| 26/08/2025 | 436,763 | £27.2650 | £27.0300 | £27.1802 | LSE | GBP |
| 26/08/2025 | 199,281 | £27.2700 | £27.0400 | £27.1949 | Chi-X (CXE) | GBP |
| 26/08/2025 | 263,956 | £27.2650 | £27.0300 | £27.1675 | BATS (BXE) | GBP |
| 26/08/2025 | 699,191 | €31.7000 | €31.3950 | €31.5461 | XAMS | EUR |
| 26/08/2025 | 399,276 | €31.7000 | €31.5000 | €31.5930 | CBOE DXE | EUR |
| 26/08/2025 | – | – | – | – | 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
How many shares did Shell (SHEL) purchase on August 26, 2025?
Shell purchased approximately 2 million shares in total, with 900,000 shares in GBP (across LSE, Chi-X, and BATS) and 1,098,467 shares in EUR (through XAMS and CBOE DXE).
What is the duration of Shell’s current share buyback program?
The current buyback program runs from July 31, 2025 to October 24, 2025, with HSBC Bank plc making independent trading decisions.
What was the price range for Shell’s share purchases on LSE?
On the London Stock Exchange, Shell purchased shares between £27.03 (lowest) and £27.265 (highest), with a volume-weighted average price of £27.1802.
How is Shell’s share buyback program being executed?
The program is executed through both on-market and off-market components, managed independently by HSBC Bank plc, in accordance with UK Listing Rules and Market Abuse Regulations.
Which trading venues did Shell use for its share purchases?
Shell purchased shares across multiple venues including LSE, Chi-X (CXE), BATS (BXE), XAMS, and CBOE DXE.
