RELX PLC Announcement of Non-Discretionary Share Buyback Programme
07 December 2017 - 6:00PM
UK Regulatory
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
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http://www.businesswire.com/news/home/20171206006066/en/
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(END) Dow Jones Newswires
December 07, 2017 02:00 ET (07:00 GMT)
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