Suspension of share buy-back programme

RNS Number : 6586G

Sage Group PLC

18 March 2020

 

Suspension of share buy-back programme

18 March 2020

The Sage Group plc ("Sage") today announces that, in light of the current COVID-19 pandemic, it has decided to suspend its recently announced share buy-back programme, in order to preserve a high level of liquidity.

Sage has a strong balance sheet and low debt, supported by a resilient, recurring revenue stream and robust cash flow generation.  Whilst the impact of COVID-19 on Sage's business performance to date has been limited, the Board believes that given the highly uncertain economic outlook it is prudent to suspend the share buy-back.

The Board will consider restarting the share buy-back programme in due course.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.  The person responsible for making this announcement on behalf of Sage is Vicki Bradin (Company Secretary).

Enquiries

The Sage Group plc  [phone]

Jonathan Howell, Chief Financial Officer

James Sandford, Investor Relations

Amy Lawson, Media

FTI Consulting  [phone]

Charles Palmer

Dwight Burden

 

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