Teleperformance: Launch of a Share Buyback Program for 150 Million Euros Following the Disproportionate Decline in the Share Price

Rhea-AI Summary

Teleperformance Group has temporarily suspended its stock listing following Colombian Vice-Minister of Labor's announcement to review the work environment at its Colombian subsidiary. Despite the lack of official notification from the Colombian government, the company is confident in the compliance of its operations. Teleperformance has announced a €150 million share buyback program, utilizing available cash in line with legal regulations, as a strategic move to boost shareholder value. A conference call with analysts is scheduled for today at 6:00 pm CET.

Positive

• Announced a €150 million share buyback program to enhance shareholder value.
• Management confident in compliance with Colombian labor laws, potentially reducing regulatory risks.

Negative

• Temporary suspension of stock listing could indicate underlying issues impacting investor confidence.
• The review by Colombian authorities may lead to operational disruptions or reputational risks.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Teleperformance Group's (Paris:TEP) executive management has requested a brief suspension of its listing following the sell-off caused by the announcement in certain media by the Colombian Vice-Minister of Labor of her decision to overview the work environment in its Colombian subsidiary.

To date, the Group has not been officially notified by the Colombian government. Teleperformance is confident in the results of such an audit, as the management team of the Colombian subsidiary has always developed the company in compliance with the law.

As a result of the situation induced, the Group considers that Teleperformance share buyback is today a good usage of its available cash, in compliance with the law.

Consequently, it has been decided to allocate an initial amount of €150 million to the share buyback program of the Group within the framework of the authorization given by the Shareholders’ meeting of Teleperformance of April 14, 2022.

The Group will apply for the resumption of the listing of its shares as soon as possible.

Conference call with analysts and investors

A conference call will be held today at 6:00 pm CET.

Dial-in-numbers will be communicated in due time.

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About Teleperformance Group

Teleperformance (TEP – ISIN: FR0000051807 – Reuters: TEPRF.PA - Bloomberg: TEP FP), the global leader in outsourced customer and citizen experience management and related digital services, serves as a strategic partner to the world’s largest companies in many industries. It offers a One Office support services model including end-to-end digital solutions, which guarantee successful customer interaction and optimized business processes, anchored in a unique, comprehensive high touch, high tech approach. Nearly 420,000 employees, based in 88 countries, support billions of connections every year in over 265 languages and around 170 markets, in a shared commitment to excellence as part of the “Simpler, Faster, Safer” process. This mission is supported by the use of reliable, flexible, intelligent technological solutions and compliance with the industry’s highest security and quality standards, based on Corporate Social Responsibility excellence. In 2021, Teleperformance reported consolidated revenue of €7,115 million (US$8.4 billion, based on €1 = $1.18) and net profit of €557 million.

Teleperformance shares are traded on the Euronext Paris market, Compartment A, and are eligible for the deferred settlement service. They are included in the following indices: CAC 40, STOXX 600, S&P Europe 350, MSCI Global Standard and Euronext Tech Leaders. In the area of corporate social responsibility, Teleperformance shares are included in the CAC 40 ESG since September 2022, the Euronext Vigeo Euro 120 index since 2015, the EURO STOXX 50 ESG index since 2020, the MSCI Europe ESG Leaders index since 2019, the FTSE4Good index since 2018 and the S&P Global 1200 ESG index since 2017.

For more information: www.teleperformance.com Follow us on Twitter: @teleperformance

View source version on businesswire.com: https://www.businesswire.com/news/home/20221110005631/en/

FINANCIAL ANALYSTS AND INVESTORS

Investor relations and financial

communication department

TELEPERFORMANCE

Tel: +33 1 53 83 59 15

investor@teleperformance.com

PRESS RELATIONS

Europe

Karine Allouis – Laurent Poinsot

IMAGE7

Tel: +33 1 53 70 74 70

teleperformance@image7.fr

teleperformance@image7.fr

PRESS RELATIONS

Americas and Asia-Pacific

Mark Pfeiffer

TELEPERFORMANCE

Tel: + 1 801-257-5811

mark.pfeiffer@teleperformance.com

Source: Teleperformance SE

FAQ

What is the purpose of Teleperformance's share buyback program?

The share buyback program aims to enhance shareholder value and effectively utilize available cash, allocating an initial €150 million.

When did Teleperformance announce the share buyback?

The share buyback program was announced following the temporary suspension of its stock listing due to a labor review in Colombia.

How much is Teleperformance allocating to the share buyback?

Teleperformance has allocated an initial amount of €150 million to its share buyback program.

What caused the suspension of Teleperformance's stock listing?

The suspension was initiated due to the Colombian Vice-Minister of Labor's announcement regarding a work environment review at the company's Colombian subsidiary.

When will Teleperformance's stock listing resume?

Teleperformance intends to apply for the resumption of its stock listing as soon as possible after addressing the current situation.