Last checked at 18 Mar 2020 13:47
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