NEW YORK, Sept. 19, 2016 /PRNewswire/ -- Genpact Limited
(NYSE: G), a global leader in digitally-powered business process
management and services, today announced that its Board of
Directors has approved a new $250
million share repurchase program, bringing the total
authorization since February 2015 to
$750 million. The company intends to
purchase its common shares from time to time on the open market or
in privately negotiated transactions.
N.V. 'Tiger' Tyagarajan, Genpact's president and CEO,
said, "Our share repurchase program remains an important
tool in our capital allocation framework. We continually
assess opportunities that allow us to enhance long-term shareholder
value, and believe our shares represent an attractive
investment."
The timing and amount of any shares repurchased will be
determined by the company's management based on its evaluation of
market conditions and other factors. Repurchases may also be made
under a Rule 10b5-1 plan, which would permit shares to be
repurchased when the company might otherwise be precluded from
doing so under insider trading laws. The repurchase program may be
suspended or discontinued at any time. Any repurchased shares will
be canceled.
The repurchase program will be funded using available cash
and/or debt facilities. As of June 30,
2016, the company had cash and cash equivalents of
approximately $407 million and
approximately 209 million common shares outstanding.
About Genpact
Genpact (NYSE: G) stands for "generating business
impact." We are a global leader in digitally-powered
business process management and services. We architect the Lean
DigitalSM enterprise through our patented Smart
Enterprise Processes (SEPSM) framework that reimagines
our clients' operating model end-to-end, including the middle and
back offices. This creates Intelligent
OperationsSM that we help design, transform, and
run. The impact on our clients is a high return on
transformation investments through growth, efficiency, and business
agility. For two decades, first as a General Electric
division and later as an independent company, we have been
passionately serving our clients. Today, we generate impact
for a few hundred strategic clients, including approximately one
fifth of the Fortune Global 500, and have grown to over 75,000
people in 25 countries, with key offices in New York City. The resulting business process
and industry domain expertise, and experience running complex
operations, are a unique heritage and focus that help us drive the
best choices across technology, analytics, and organizational
design. For additional information, visit
www.genpact.com.
Safe Harbor
Statements in this press release regarding the company's
intention to repurchase shares of its common stock from time to
time under its share repurchase program, the intended use of any
repurchased shares and the source of funding are forward-looking
statements. There are a number of important factors that
could cause actual events to differ materially from those suggested
or indicated by such forward-looking statements. These include,
among others, the market price of the company's stock prevailing
from time to time, the nature of other investment opportunities
presented to the company from time to time, the company's cash
flows from operations, general economic conditions, and other
factors identified in the company's most recent Annual Report on
Form 10-K and Quarterly Report on Form 10-Q filed with the SEC.
Genpact undertakes no obligation to update any forward-looking
statements that may be made from time to time by or on behalf of
Genpact.
Contact
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Investors
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Roger Sachs,
CFA
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+1 (203)
808-6725
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roger.sachs@genpact.com
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Media
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Gail
Marold
+1 (919)
345-3899
gail.marold@genpact.com
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SOURCE Genpact Limited