REG - Sage Group PLC - SHARE BUYBACK PROGRAMME

SageAnnouncement

20/11/2024 07:00

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RNS Number : 8706M  Sage Group PLC  20 November 2024

THE SAGE GROUP PLC

SHARE BUYBACK PROGRAMME

 

London 20 November 2024 - The Sage Group plc ("Sage" or the "Group") today
announces that it is commencing a share buyback programme for aggregate
consideration of up to £400 million. The programme will run from 20 November
2024 and is expected to end no later than 3 June 2025.

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

Jacqui Cartin, 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 J.P. Morgan
Securities plc ("J.P. Morgan") and Morgan Stanley & Co. International plc
("Morgan Stanley") (together, the "Brokers") in relation to the purchase by
the Brokers, acting as riskless principals, of ordinary shares of Sage (the
"Shares"). J.P. Morgan will conduct the first half of the share buyback
programme and Morgan Stanley 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 9 of the UK Listing Rules, and
those provisions 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) and with regard to regulatory
technical standards for the conditions applicable to buyback programmes.

The maximum number of Shares which may currently be purchased or committed to
be purchased by Sage under the buyback programme is 87,944,497, which is the
maximum number remaining as of the date of this announcement pursuant to the
relevant authorities granted by shareholders at Sage's latest Annual General
Meeting.

 

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