The buy-back was valued at about $300 million based on today’s currency exchange and was announced the same day Sage confirmed the sale of Sage Pay to Elavon. The company completed the buy-back of 1,101,918 shares, with the average somewhere around 5.9 pounds per share.
SAGE SUSPENDS SHARE BUY BACK Featured
Sage announced the commencement of its share buyback on March 11. It said on March 18 the program was suspended as the Covid-19 pandemic took its toll on the markets. The official statement was the action was “in order to preserve a high level of liquidity.”
