Announcement of Non-Discretionary Share Buyback Programme
LONDON, July 27, 2023--(BUSINESS WIRE)--
27 July 2023
ISSUED ON BEHALF OF RELX PLC
Announcement of Non-Discretionary Share Buyback Programme
RELX PLC (the "Company") announces in compliance with the UK and EU Market Abuse Regulations that it will implement an irrevocable, non-discretionary programme to repurchase its ordinary shares between 27 July 2023 and 6 December 2023 (the "Programme"), with a spend in this period of £200 million. This follows the successful completion of a £250 million non-discretionary programme on 24 July 2023. Both programmes are part of the £800 million to be deployed on share buybacks in 2023, as announced on 16 February 2023. Since the start of the year, the Company has purchased 23.7 million shares at a total cost of £600 million.
The purpose of the Programme is to reduce the capital of the Company and it intends that shares purchased will be held in treasury.
Any share purchases will be made by the Company within certain pre-set parameters and in accordance with the general authority of the Company to repurchase shares granted by shareholders at the Company’s Annual General Meeting held on 20 April 2023 which, taking into account shares purchased subsequent to this meeting, permits the Company to purchase no more than 183.84 million ordinary shares. Any share purchases effected by the Company will be in accordance with the UK and EU Market Abuse Regulations and Chapter 12 of the Listing Rules.
The Company has entered into an agreement with J.P. Morgan Securities plc ("JPMS plc") under which it has issued irrevocable instructions to JPMS plc to manage the Programme. JPMS plc will carry out the Company’s instructions through the acquisition of ordinary shares in the Company for subsequent repurchase by the Company. JPMS plc will make its trading decisions under the Programme independently of, and uninfluenced by, the Company.
-ENDS-
Enquiries
Colin Tennant (Investors)
Tel : +44 (0)20 7166 5751
Paul Abrahams (Media)
Tel : +44 (0)20 7166 5724
View source version on businesswire.com: https://www.businesswire.com/news/home/20230727030585/en/
Contacts
RELX PLC
