REG - LondonStockExGroup - Commencement of Share Buyback Programme

London Stock ExchangeAnnouncement

03/03/2025 07:00

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RNS Number : 9501Y  London Stock Exchange Group PLC  03 March 2025

 

London Stock Exchange Group plc

 

FOR IMMEDIATE RELEASE

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION

 

3 March 2025

 

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London Stock Exchange Group plc - Commencement of Share Buyback Programme

 

London Stock Exchange Group plc (the "Company") announces today that, further
to its announcement on 27 February 2025 of the Company's preliminary results
for the financial year ended 31 December 2024, the Company will commence a
share buyback programme to purchase ordinary shares of 6(79/86) pence each in
the Company ("Shares") with an aggregate value of up to £500 million (the
"Buyback Programme").

 

In connection with the Buyback Programme, the Company has entered into an
irrevocable agreement with Morgan Stanley & Co. International Plc ("Morgan
Stanley") in relation to the purchase of Shares by Morgan Stanley, acting as
riskless principal and in accordance with certain pre-set parameters, under
which the Company has instructed Morgan Stanley to purchase Shares with a
value of up to £500 million. Purchases will commence immediately and will end
no later than 30 July 2025. Morgan Stanley will make trading decisions in
relation to the Buyback Programme independently of, and uninfluenced by, the
Company. Any purchase of Shares by Morgan Stanley contemplated by this
announcement will be carried out on the London Stock Exchange and/or on
Turquoise Equities Trading. Shares purchased by Morgan Stanley will be on-sold
by Morgan Stanley to the Company, and any purchases of Shares by the Company
from Morgan Stanley will be carried out on the London Stock Exchange, with the
Shares purchased by the Company being held in treasury.  The arrangements
between the Company and Morgan Stanley are subject to customary termination
rights in favour of the Company and Morgan Stanley. The purpose of the Buyback
Programme is to reduce the share capital of the Company.

 

Any purchases under the Buyback Programme shall take place in accordance with
(and subject to the limits prescribed by) the Company's general authority to
repurchase Shares granted by its shareholders at the annual general meeting on
25 April 2024 (the "2024 Authority") and any further authority to repurchase
Shares as may be granted by its shareholders from time to time under Chapter 9
of the Listing Rules. The maximum number of Shares that the Company is
authorised to purchase under the 2024 Authority is 53,560,181. Purchases of
Shares by Morgan Stanley shall take place in accordance with the Market Abuse
Regulation (EU) No 596/2014 (including the delegated and implementing acts
adopted under it) and the Commission Delegated Regulation (EU) No 2016/1052
with regard to regulatory technical standards for the conditions applicable to
buyback programmes and stabilisation measures (in each case as they form part
of the law of the United Kingdom by virtue of the European Union (Withdrawal)
Act 2018, as implemented, retained, amended, extended, re-enacted or otherwise
given effect in the United Kingdom from 1 January 2021 and as amended or
supplemented in the United Kingdom thereafter). The Company will make further
regulatory announcements to shareholders in respect of purchases of Shares
under the Buyback Programme as they occur.

 

-  Ends -

 

For further information, please contact:

 London Stock Exchange Group plc

 Lucie Holloway, Rhiannon Davies (Media)  +44 (0)20 7797 1222

                                          ir@lseg.com

 Peregrine Riviere (Investors)

 

 

 

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