REG - Sage Group PLC - SHARE BUYBACK PROGRAMME

SageAnnouncement

22/11/2023 07:15

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RNS Number : 2058U  Sage Group PLC  22 November 2023

THE SAGE GROUP PLC.

SHARE BUYBACK PROGRAMME

Sage announces that it is commencing a share buyback programme of up to £350
million.

London 22 November 2023 - The Sage Group plc ("Sage" or the "Group") today
announces that it is commencing a share buyback programme of up to £350
million. The programme will run from 22 November 2023 and is expected to end
no later than 23 April 2024.

The share buyback programme is consistent with the Group's disciplined capital
allocation policy, and reflects the Board's confidence in Sage's future
prospects, together with Sage's strong cash generation and robust financial
position. Sage continues to have considerable financial flexibility to drive
the execution of its growth strategy.

Further details of the share buyback programme are set out below.

________________________________________

Enquiries

The Sage Group plc: +44 (0) 7341 479956

Caroline Xu, Group Finance

James Sandford, Investor Relations

David Ginivan, Corporate PR

FGS Global: +44 (0) 20 7251 3801

Conor McClafferty

Sophia Johnston

________________________________________

Further details of the share buyback programme

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

The Brokers will make trading decisions in relation to Shares purchased under
the buyback programme independently of, and uninfluenced by, Sage. The purpose
of the share buyback programme is to reduce the share capital of Sage. The
Brokers will make an on-sale of such Shares to Sage and all Shares repurchased
will be cancelled.

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 Shares granted at
its latest 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.

 

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