Temenos announces completion of its 2024 share buyback program
GRAND-LANCY, Switzerland, September 2, 2024 – Temenos AG (SIX: TEMN), the banking software company, today announces the successful completion of its 2024 share buyback program.
This share buyback program, which commenced on June 10, 2024, was completed on August 30, 2024. During this period, Temenos repurchased a total of 3,263,937 registered shares via a second trading line at an average price of CHF 61.2757 per share, for a total amount of CHF 200 million.
These repurchased shares represent 4.3% of the company’s registered share capital, totaling 75,171,084 shares as of the date of this announcement.
The shares were repurchased for the purposes of a subsequent capital reduction to be proposed at the Annual General Meeting of Shareholders in 2025.
With its strong free cash flow generation, Temenos still expects 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