Sage completes disposal, announces share buy-back

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 £232 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 £250 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 RelationsDerk Bleeker, Corporate DevelopmentAmy Lawson, Media

FTI Consulting +44 (0) 20 3727 1000

Charles PalmerDwight Burden

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