Temenos announces new share buyback program of up to CHF 200m
Ad hoc announcement pursuant to Art. 53 LR
GRAND-LANCY, Switzerland, June 7, 2024 – Temenos AG (SIX: TEMN), the banking software company, today announces a new share buyback program of up to CHF 200m, which will commence on June 10, 2024 and last until December 30, 2024 at the latest. Based on the closing price of Temenos’ registered shares at SIX Swiss Exchange on June 5, 2024 of CHF 56.90, the repurchase volume of up to CHF 200m corresponds to approximately 3,514,938 registered shares or approximately 4.68% of the current share capital and voting rights of Temenos. Further details of the share buyback are available here.
The shares will be purchased through a secondary trading line (Swiss Security Number: 135.325.821; ISIN: CH1353258218; Ticker: TEMNE) for the purposes of a subsequent capital reduction to be proposed at the Annual General Meeting of Shareholders in 2025.
Temenos’ strong free cash flow generation supports a share buyback whilst still expecting the company’s leverage to be towards the low end of its target operating leverage of 1.5 to 2.0x net debt to non-IFRS EBITDA by year end. The share buyback will be marginally accretive to EPS growth in FY-24 with more pronounced accretion in FY-25.
Investor & Media Contacts
Investors
Adam Snyder
Head of Investor Relations, Temenos
Email: [email protected]
+44 207 423 3945
International media
Conor McClafferty
FGS Global on belhalf of Temenos
[email protected]
+44 7920 087 914
Swiss media
Martin Meier-Pfister
IRF on belhalf of Temenos
[email protected]
+41 43 244 81 40