REG - Sage Group PLC (The) - SHARE BUYBACK PROGRAMME

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RNS Number : 7298I  Sage Group PLC (The)  15 May 2025

THE SAGE GROUP PLC

SHARE BUYBACK PROGRAMME

 

Sage announces that it is extending its ongoing share buyback programme by up
to £200 million.

London 15 May 2025 - The Sage Group plc ("Sage" or the "Group") today
announces a share buyback programme extension for aggregate consideration of
up to £200 million (the "Extended Programme") which will commence on
completion of its ongoing share buyback programme for aggregate consideration
of up to £400 million announced on 20 November 2024 (the "Initial
Programme").

The Initial Programme is expected to end no later than 3 June 2025 (as
previously announced) and, following its completion, the Extended Programme
will commence. The Extended Programme is expected to end no later than 6
August 2025.

The Extended 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 Extended 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 Extended 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 riskless principals, of ordinary shares of Sage (the "Shares").
Morgan Stanley will conduct the first half of the Extended Programme and J.P.
Morgan will conduct the second half. The Extended Programme will commence on
the trading day after the Initial Programme is completed and, in any case, no
later than 4 June 2025.

The Brokers will make trading decisions in relation to Shares purchased under
the Extended Programme independently of, and uninfluenced by, Sage. The
purpose of the Extended 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 Extended Programme is 81,555,354, 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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