Sage Group PLC Suspension of share buy-back programme (6586G)
18 Marzo 2020 - 2:47PM
UK Regulatory
TIDMSGE
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 +44(0) 191 294 3457
Jonathan Howell, Chief Financial Officer
James Sandford, Investor Relations
Amy Lawson, Media
FTI Consulting +44(0) 20 3727 1000
Charles Palmer
Dwight Burden
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END
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