WNS Announces Board Authorization of ADS Repurchase Program
January 18 2018 - 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 3.3 million American Depositary Shares (“ADSs”), each
representing one ordinary share, at a price range of $10 to $100
per ADS. The share repurchase program is subject to shareholders’
approval. WNS intends to convene an extraordinary general meeting
of its shareholders in the fourth quarter of fiscal 2018 to seek
shareholders’ approval of the share repurchase program. If
shareholders approve the repurchase program, ADSs may be purchased
in the open market from time to time for a period of 36 months from
the date of shareholders’ approval. WNS intends to fund the share
repurchases with cash on hand. 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 had 50.3 million ordinary shares
outstanding as of December 31, 2017.
About WNS
WNS (Holdings) Limited (NYSE: WNS), is a leading global business
process management company. WNS offers business value to 350+
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 interaction
services, technology solutions, research and analytics and industry
specific back office and front office processes. As of December 31,
2017, WNS had 35,657 professionals across 53 delivery centers
worldwide including China, Costa Rica, India, Philippines, Poland,
Romania, South Africa, Sri Lanka, Turkey, 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 proposed share repurchase program,
our intention to convene an extraordinary general meeting to seek
shareholders approval to approve it, and our intention to fund
share repurchases under the program with cash on hand.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180118005598/en/
WNS (Holdings) LimitedInvestors:David
MackeyCorporate SVP–Finance & Head of Investor Relations+1
(201) 942-6261david.mackey@wns.comorMedia:Archana RaghuramGlobal
Head – Marketing & Communications+91 (22) 4095
2397archana.raghuram@wns.com ; pr@wns.com
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