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IN BRIEF: Pearson starts GBP300 million share buyback on Thursday

21st Sep 2023 06:57

Pearson PLC - London-based publisher of education materials - Says GBP300 million share buyback programme announced in late July will begin on Thursday and run to no later than March 7, 2024. Citigroup Global Markets Ltd will manage the buyback, and all shares repurchased will be cancelled to reduce the capital of the company. In the announcement on Wednesday afternoon in London, Pearson also says its 2023 and medium-term guidance both remain unchanged.

Pearson earlier on Wednesday said it has recruited the head of Microsoft Corp's Industry Solutions business, Omar Abbosh, to be its new chief executive officer, as Andy Bird will depart after just three years in post.

Current stock price: 876.00 pence, closed down 0.9% on Wednesday

12-month change: down 0.7%

By Tom Waite, Alliance News editor

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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