Sage Group PLC Sage completes disposal, announces share buy-back (8198F)
11 Marzo 2020 - 4:11PM
UK Regulatory
TIDMSGE
RNS Number : 8198F
Sage Group PLC
11 March 2020
Sage completes disposal of Sage Pay and announces share buy-back
programme
11 March 2020
Further to the announcement dated 18 November 2019, The Sage
Group plc ("Sage") confirms that it has completed the disposal of
Sage Pay to Elavon, a leading global payments company and wholly
owned subsidiary of U.S. Bancorp, for a cash consideration of
approximately GBP232 million (subject to a customary
post-completion net debt and working capital adjustment).
Reflecting the sale proceeds from the Sage Pay disposal, Sage
also today confirms that the GBP250 million capital return,
announced on 20 November 2019, will be executed via a share
buy-back programme which is expected to commence shortly. Further
details of this buy-back programme will be provided in a separate
announcement.
Enquiries
The Sage Group plc +44 (0) 191 294 3897
James Sandford, Investor Relations
Derk Bleeker, Corporate Development
Amy Lawson, Media
FTI Consulting +44 (0) 20 3727 1000
Charles Palmer
Dwight Burden
About Sage
Sage is a global market leader for technology that helps small
and medium businesses perform at their best. Sage is trusted by
millions of customers worldwide to deliver the best cloud
technology and support, with our partners, to manage finances,
operations, and people. We believe in doing everything we can to
help people be the best they can be, so the combined efforts of
13,000 Sage colleagues working with businesses and communities make
a real difference to the world.
Sage. Perform at your Best.
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