28. Treasury shares


	Pearson plc
	Number of shares 000s			£m
At 1 January 2017		7,719			79
Purchase of treasury shares		—			—
Release of treasury shares		(1,725	)		(18	)

At 31 December 2017		5,994			61
Purchase of treasury shares		—			—
Release of treasury shares		(2,769	)		(28	)

At 31 December 2018		3,225			33

The Group holds Pearson plc shares in trust to satisfy its obligations under its restricted share plans (see note 26). These shares, representing 0.4% (2017: 0.8%) of called-up share capital, are treated as treasury shares for accounting purposes and have a par value of 25p per share.

The nominal value of Pearson plc treasury shares amounts to £0.8m (2017: £1.5m). Dividends on treasury shares are waived.

At 31 December 2018, the market value of Pearson plc treasury shares was £30m (2017: £44m).