London Stock Exchange Group plc (the "Company") announces that it has commenced a non-discretionary programme to purchase ordinary shares for cancellation, in relation to its £500m repurchase programme, during the period commencing on 28 March 2008 and ending on the announcement of its Preliminary results for the year ending 31 March 2008 (expected to be on 22 May 2008).
The buyback programme will be managed by the Company's brokers, JPMorgan Cazenove Limited and Lehman Brothers International (Europe), who are independent third parties that make trading decisions independently of, and uninfluenced by, the Company.
Any acquisitions will be effected within certain pre-set parameters, and in accordance with both the Company's general authority to repurchase shares and Chapter 12 of the Listing Rules which requires that the maximum price paid be the higher of (i) 5 per cent above the average market value for the shares as derived from the London Stock Exchange Daily Official List for the five business days immediately prior to such purchase and (ii) the higher of the price of the last independent trade of a Share and the highest current independent bid for a Share as derived from the London Stock Exchange Trading Service (SETS).
