London Stock Exchange Group updates on share buyback programme
London Stock Exchange Group plc (LSEG) announced today that it has entered into an irrevocable commitment with Citigroup Global Markets Limited with respect to the third tranche of the share buyback programme announced by the Company on 5 August 2022.
The first tranche of the Buyback managed by Goldman Sachs International completed on 5 October 2022 and the second tranche of the Buyback managed by Morgan Stanley & Co. International Plc completed on 14 March 2023.
In connection with Tranche 3, the Company has instructed Citi to purchase voting ordinary shares of 679/86 pence each in the Company with a value up to £250 million. Purchases will commence on 27 March 2023 and are expected to end no later than 24 July 2023.
Citi will make trading decisions in relation to Tranche 3 independently of, and uninfluenced by, the Company with regard to the timing of the purchases of Shares. Any purchase of Shares by Citi contemplated by this announcement will be carried out on the London Stock Exchange and/or on Turquoise Equities Trading. Shares purchased by Citi will be on-sold by Citi to the Company, and any purchases of Shares by the Company from Citi 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 Citi are subject to customary termination rights in favour of the Company and Citi.