Sopra Steria Launches a €150m Share Buyback Programme By Investing.com

PARIS–(BUSINESS WIRE)–Regulatory News:

Sopra Steria (Paris:SOP), a major player in the European tech sector, confident in its outlook and its ability to create value over the long term, has announced the launch of a €150 million share buyback programme.

Sopra Steria has entrusted an investment services provider with carrying out the €150 million share buyback. The buyback period will be from 2 October 2024 to 20 May 2025.

The shares bought back under this programme will be retired.

These buybacks will be carried out under the authorisation granted at the Annual General Meeting of Shareholders held on 21 May 2024, which authorised share buybacks of up to a maximum of 10% of the share capital (Resolution 20) and their retirement (Resolution 21).

The decision to launch this share buyback programme follows Sopra Steria’s process of refocusing its activities on digital services and solutions, which included the finalisation, on 2 September 2024, of the sale of Sopra Banking Software activities. Since the end of H1 2024, Sopra Steria has received a total of €410.5 million arising from this transaction.

The amount allocated to the announced share buyback programme will enable the Group to retain substantial financial flexibility and the ability to continue a policy of targeted acquisitions in order to accelerate the implementation of its strategy.

Upcoming financial releases

Thursday, 31 October 2024 (before market open): Publication of Q3 2024 revenue

About Sopra Steria

Sopra Steria, a major player in the European tech sector with 56,000 employees in nearly 30 countries, is recognised for its consulting, digital services and software development. It helps its clients drive their digital transformation and obtain tangible and sustainable benefits. The Group provides end-to-end solutions to make large companies and organisations more competitive by combining in-depth knowledge of a wide range of business sectors and innovative technologies with a fully collaborative approach. Sopra Steria places people at the heart of everything it does and is committed to putting digital to work for its clients in order to build a positive future for all. In 2023, the Group generated revenue of €5.8 billion.

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Sopra Steria (SOP) is listed on Euronext Paris (Compartment A) “ ISIN: FR0000050809

For more information, visit us at www.soprasteria.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20241001481418/en/

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Source: Sopra Steria