On Wednesday, RELX Technology announced that its board of directors had approved a 24-month extension of the existing share repurchase program until December 31, 2027. The existing share repurchase program was initially established in December 2021 and extended in December 2023. Under the current share repurchase program, the company is authorized to repurchase up to $500 million worth of ordinary shares represented by American Depositary Shares (ADS) by December 31, 2025. As of December 31, 2025, the company has cumulatively repurchased approximately 170 million ADS-represented ordinary shares for a total amount of about $330 million, leaving an unused quota of approximately $170 million. According to the extended share repurchase plan, the company can repurchase a total of approximately $170 million worth of ADS by December 31, 2027.
Additionally, recently, the State Tobacco Monopoly Administration publicly solicited opinions on the 'Notice of the State Tobacco Monopoly Administration on Implementing E-cigarette Industry Policies to Further Promote Supply-Demand Dynamic Balance (Draft for Comments).' The draft proposes strengthening the regulation of e-cigarette production capacity. It advocates advancing supply-side structural reform in the e-cigarette industry based on market demand, taking into account enterprises’ equipment levels, operational status, and industrial trends. In line with the principles of 'fairness and transparency, differentiated strategies, and steady order,' the management of verified e-cigarette production capacity will be implemented. In principle, the verified e-cigarette production capacity should remain basically stable, and relevant e-cigarette production enterprises must operate within their verified capacities. Operating beyond the verified capacity is strictly prohibited, and any adjustments require re-application for verification of production capacity and compliance with licensing procedures. Legally compliant e-cigarette-related production enterprises that adhere to industry policies and regulatory requirements are allowed to integrate and restructure their production capacities through methods such as merging production sites, thereby enhancing enterprise management efficiency and capacity utilization.
