Relx begins second tranche of buyback programme worth GBP350 million

(Alliance News) - 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 GBP350 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 GBP450 million tranche that ran from February to last Friday.

Both rounds of repurchases are part of a buyback programme worth GBP2.25 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.

By Martin Miraglia, Alliance News reporter

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