Further share buyback programme

RNS Number : 6152K

Sage Group PLC

03 September 2021

 

Further share buyback programme

3 September 2021

The Sage Group plc ("Sage" or the "Group") today announces that it will commence a further share buyback programme of up to £300 million, following completion of the £300 million programme announced on 4 March 2021. The new buyback programme will run from 6 September 2021, and is expected to end no later than 24 January 2022.

The buyback programme is consistent with the Group's disciplined approach to capital allocation and reflects its medium-term leverage objectives.

Further details of the buyback programme are set out below.

Enquiries

The Sage Group plc [phone]

James Sandford, Investor Relations

Amy Lawson, Media

Finsbury Glover Hering [phone] 

Conor McClafferty

Amanda Healy

Further details of the share buyback programme

Sage has entered into non-discretionary arrangements with Morgan Stanley & Co. International plc and J.P. Morgan Securities plc (together the "Brokers"), in relation to the purchase by the Brokers, acting as principals, of ordinary shares of Sage (the "Shares").

The Brokers will make trading decisions in relation to Shares purchased under the buyback programme independently of, and uninfluenced by, Sage. The Brokers will make a simultaneous on-sale of such Shares to Sage, and all Shares repurchased will be held in treasury and used to meet obligations arising from share option programmes, or other allocations of shares, to employees or directors.

Any purchases of Shares contemplated by this announcement will be carried out on the London Stock Exchange and/or other recognised investment exchange(s), and will be effected within certain pre-set parameters. These arrangements are in accordance with Sage's general authority to repurchase up to 109,355,465 Shares granted at its 2021 Annual General Meeting, Chapter 12 of the Listing Rules, and those provisions of Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) dealing with buyback programmes.

ENDS

 

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