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.
Copyright Business Wire 2015