Share buy-back programme

RNS Number : 3497P

Sage Group PLC

30 September 2011

 



30 September 2011  

                                                 

Share buy-back programme

On 22 September 2011 The Sage Group plc ("Sage" or "the Company") announced the sale of its US Healthcare division, and the intention to return all of the proceeds to shareholders through a share buy-back programme.

Following this announcement, Sage has appointed Deutsche Bank AG to manage an irrevocable buy-back programme during its close period within certain pre-set parameters. The buy-back programme will commence on 4 October 2011 and will run up to the announcement of the Preliminary results on 30 November 2011.

The maximum price to be paid is limited to no more than the higher of 105 per cent of the average middle market closing price of the Company's shares for the 5 dealing days preceding the date of purchase and that stipulated by Article 5 (1) of the Buy-back and Stabilisation Regulation.

Any shares purchased will count towards the Company's general buy-back authority of 10% of the issued share capital, as approved at the AGM on 2 March 2011.

Sage confirms that it currently has no unpublished price sensitive information.

Enquiries

The Sage Group plc [phone]

Guy Berruyer, Chief Executive

Paul Harrison, Group Finance Director

Andrew Griffith, Investor Relations

Tulchan Communications [phone]

David Shriver

Lucy Legh

About the Sage Group plc

The Sage Group plc is a leading global supplier of business management software and related products and services, principally for small to medium-sized enterprises. Formed in 1981, Sage was floated on the London Stock Exchange in 1989. Sage has 6.3 million customers and more than 13,400 employees worldwide. We operate in over 24 countries covering the UK, Europe, North America, South Africa, Australia, India and China. For further information please visit www.sage.com

 

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