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REL Relx Plc

3,434.00
7.00 (0.20%)
Last Updated: 16:09:20
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Relx Plc LSE:REL London Ordinary Share GB00B2B0DG97 ORD 14 51/116P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  7.00 0.20% 3,434.00 3,434.00 3,435.00 3,460.00 3,414.00 3,430.00 1,027,859 16:09:20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Publishing 9.16B 1.78B 0.9458 36.23 64.53B

RELX PLC Announcement of Non-Discretionary Share Buyback Programme

07/12/2017 7:00am

UK Regulatory


Relx (LSE:REL)
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From Mar 2019 to Mar 2024

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TIDMREL 
 
 

7 December 2017

 

RELX PLC and RELX N.V. (the "Companies") announce the completion of their GBP700m share buyback programme for 2017. Consistent with prior year practice, and in compliance with the EU Market Abuse Regulation, the Companies also announce they will implement an irrevocable, non-discretionary programme to repurchase their respective ordinary shares up to the combined total value of GBP100 million between 2 January 2018 and 12 February 2018 (the "Programme"), ahead of the Companies' results announcement on 15 February 2018.

 

The ratio of the respective ordinary shares to be bought back by each of the Companies over the course of the Programme will be set by reference to the Companies' respective economic interests in RELX Group plc. The purpose of the Programme is to reduce the capital of the Companies. The Companies intend that shares purchased will be held in treasury.

 

Any share purchases will be made by the Companies within certain pre-set parameters and in accordance with the general authorities of the Companies to repurchase shares granted by shareholders at the RELX PLC Annual General Meeting held on 20 April 2017 and the RELX N.V. Annual General Meeting held on 19 April 2017 which, taking into account shares purchased subsequent to these meetings, permit the Companies to purchase no more than 101.0 million ordinary shares of RELX PLC and 89.4 million ordinary shares of RELX N.V. Any share purchases effected by the Companies will be in accordance with the EU Market Abuse Regulation and, in addition, any share purchases effected by RELX PLC will be in accordance with Chapter 12 of the UK Listing Rules.

 

The Companies have each entered into separate agreements with J.P. Morgan Securities plc (JPMS plc) under which they have issued irrevocable instructions to JPMS plc to manage the Programme. JPMS plc will carry out each of the Companies' instructions through the acquisition of ordinary shares in the Companies for subsequent repurchase by the respective Company. JPMS plc will make its trading decisions under the Programme independently of, and uninfluenced by, the Companies.

 

-ENDS-

 

ISSUED ON BEHALF OF RELX PLC AND RELX N.V.

 

EnquiriesRELX PLCColin Tennant (Investors)Tel : +44 (0)20 7166 5751orPaul Abrahams (Media)Tel : +44 (0)20 7166 5724

 

RELX PLC LEI Number - 549300WSX3VBUFFJOO66

 

RELX NV LEI Number - 549300XO8R7MPISUO753

 

3.1. - Additional regulated information required to be disclosed under the laws of a Member State

 
 

View source version on businesswire.com: http://www.businesswire.com/news/home/20171206006066/en/

 
This information is provided by Business Wire 
 
 

(END) Dow Jones Newswires

December 07, 2017 02:00 ET (07:00 GMT)

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