WNS Announces Board Authorization of ADS Repurchase Program
January 15 2015 - 6:00AM
Business Wire
WNS (Holdings) Limited (WNS) (NYSE:WNS), a leading provider of
global Business Process Management (BPM) services, today announced
that its Board of Directors has authorized a program to repurchase
up to 1.1 million American Depositary Shares (“ADS’s”), each
representing one ordinary share, at a price range of $10 to $30 per
ADS. The share repurchase program is subject to shareholder
approval. WNS intends to convene an extraordinary general meeting
of its shareholders in the fourth quarter of financial year 2015.
If shareholders approve the repurchase program, ADS’s may be
purchased in the open market from time to time over the next 12
months from April 1, 2015.
“WNS management is confident in the strength of its business and
the continued growth of its target markets,” said Keshav R.
Murugesh, WNS’s Group Chief Executive Officer. “We are committed to
invest in our long-term growth and enhance shareholder value. Our
company has a strong balance sheet and solid cash flows, and the
management team and Board of Directors believe this share buy-back
represents a good use of company funds while demonstrating the
company’s commitment to deliver long-term shareholder value.” WNS
intends to fund the share repurchases through internal cash
accruals.
These repurchases will be made in compliance with the SEC’s Rule
10b-18, subject to market conditions, applicable legal requirements
and other factors. The plan does not obligate the company to
repurchase any specific number of shares and may be suspended at
any time at management’s discretion. The company currently has 51.7
million ordinary shares outstanding.
About WNS
WNS (Holdings) Limited (NYSE: WNS), is a leading global business
process management company. WNS offers business value to 200+
global clients by combining operational excellence with deep domain
expertise in key industry verticals including Travel, Insurance,
Banking and Financial Services, Manufacturing, Retail and Consumer
Packaged Goods, Shipping and Logistics, Healthcare and Utilities.
WNS delivers an entire spectrum of business process management
services such as finance and accounting, customer care, technology
solutions, research and analytics and industry specific back office
and front office processes. As of December 31, 2014, WNS had 27,755
professionals across 37 delivery centers worldwide including China,
Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri
Lanka, United Kingdom and the United States. For more information,
visit www.wns.com.
Safe Harbor Statement
This release contains forward-looking statements, as defined in
the safe harbor provisions of the US Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
our current expectations and assumptions about our Company and our
industry. Generally, these forward-looking statements may be
identified by the use of terminology such as “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “will,” “seek,” “should”
and similar expressions. These statements include, among other
things, the discussions of our strategic initiatives and the
expected resulting benefits, our growth opportunities, expectations
concerning our future financial performance and growth potential.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. Such risks and
uncertainties include but are not limited to worldwide economic and
business conditions; political or economic instability in the
jurisdictions where we have operations; regulatory, legislative and
judicial developments; our ability to attract and retain clients;
technological innovation; telecommunications or technology
disruptions; future regulatory actions and conditions in our
operating areas; our dependence on a limited number of clients in a
limited number of industries; our ability to expand our business or
effectively manage growth; our ability to hire and retain enough
sufficiently trained employees to support our operations; negative
public reaction in the US or the UK to offshore outsourcing; the
effects of our different pricing strategies or those of our
competitors; and increasing competition in the BPM industry. These
and other factors are more fully discussed in our most recent
annual report on Form 20-F and subsequent reports on Form 6-K filed
with or furnished to the US Securities and Exchange Commission
(SEC) which are available at www.sec.gov. We caution you not to
place undue reliance on any forward-looking statements. Except as
required by law, we do not undertake to update any forward-looking
statements to reflect future events or circumstances.
WNS (Holdings) LimitedInvestors:David Mackey,
+1-201-942-6261Corporate SVP - Finance & Head of Investor
Relationsdavid.mackey@wns.comorMedia:Archana Raghuram, +91 (22)
4095 2397Head – Corporate
Communicationsarchana.raghuram@wns.compr@wns.com
WNS (NYSE:WNS)
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