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Relx begins second tranche of buyback programme worth £350 million

ALN

Relx PLC on Monday started the second tranche of its buyback programme announced last month after completing the first tranche on Friday.

The London-based provider of business, scientific and legal information will spend £350 million in the period to April 22 to buy its own shares and reduce the company’s capital by holding them in treasury.

It follows a £450 million tranche that ran from February to last Friday.

Both rounds of repurchases are part of a buyback programme worth £2.25 billion unveiled in February, when the company announced its full-year results. It did so amid a broad market distrust for information providers and software companies amid artificial-intelligence disruption at the beginning of the year.

Relx shares were down 0.4% to 2,483.00 pence on Monday morning in London.

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