Business
Announcement of share repurchase programme
Pearson PLC has announced a £350 million share buyback programme, with the first tranche of up to £175 million commencing immediately and expected to conclude by May 21, 2026. The company has engaged Citigroup Global Markets Limited to manage this initial tranche independently. A second tranche of up to £175 million is planned for the future, with all repurchased shares to be cancelled to reduce capital. The company anticipates an increased FY26 interest charge due to the funding of this programme, but enters 2026 with confidence in meeting market expectations. Disclaimer*
About this update from Pearson Plc
[{"type":"text","content":"\n\n21 January 2026\nPearson plc\n \nAnnouncement of share repurchase programme\n \nPearson plc (the Company or Pearson) announces that it is to commence a £350 million share buyback programme (the Programme). The Company has entered into an engagement with Citigroup Global Markets Limited (the Bank) in connection with the first tranche of the Programme. The first tranche of the Programme will be in the sum of up to £175 million with trading to commence today, and is anticipated to end on or before 21 May 2026 (the Engagement Period).\n \nThe Company has entered into an engagement with the Bank under which it has issued a non-discretionary irrevocable instruction to the Bank to manage the first tranche of the Programme. The Bank will carry out the instruction through the acquisition of ordinary shares in the Company for repurchase by the Company. The Bank will make trading decisions in relation to the Company's ordinary shares repurchased under the first tranche of the Programme independently of, and uninfluenced by, the Company. Purchases may continue during any closed periods of the Company during the Engagement Period.\n \nAny acquisitions of its ordinary shares by the Company will be effected within certain pre-set parameters set out in the Bank's engagement letter, and in accordance with the Company's AGM authority to repurchase ordinary shares (at the AGM on 2 May 2025, shareholders gave the Company authority to purchase a maximum of 66,657,551 ordinary shares), Chapter 9 of the Financial Conduct Authority's UK Listing Rules and the provisions of the Market Abuse Regulation 596/2014/EU (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018, as amended) and will be discontinued in the event that the Company ceases to have the necessary general authority to repurchase ordinary shares.\n \nThe Company intends to enter into arrangements to commence a second tranche of the Programme in the sum of up to £175 million in due course.\n \nThe sole purpose of the Programme is to reduce the capital of the Company. As such, the Company will cancel any ordinary shares purchased.\n \nFor the avoidance of doubt, no repurchases will be made in respect of the Company's American Depositary Receipts.\n \nThe Bank may undertake transactions in the Company's ordinary shares durin...