WNS Announces Board Approval of FY’24 Share Repurchases

Rhea-AI Summary

WNS (Holdings) Limited has announced its approval for share repurchases for fiscal 2024 under its existing share repurchase program. The company plans to begin the repurchases immediately.

Positive

• WNS plans to repurchase shares for fiscal 2024, indicating confidence in the long-term health of the business model and potential for superior returns for investors.

Negative

• None.

NEW YORK & MUMBAI, India--(BUSINESS WIRE)-- WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) solutions, today announced that its Board of Directors has approved repurchases for fiscal 2024 under its existing share repurchase program. The company intends to begin the repurchases with immediate effect.

“As disruption to our client’s business models from technology advancements continues to accelerate, the opportunity for BPM partners like WNS to help deliver transformative solutions and business outcomes is increasing,” said Keshav R. Murugesh, Group CEO, WNS. “Our strategic positioning in the marketplace and ability to 'co-create' custom solutions combining domain, technology, and talent makes WNS uniquely positioned to help clients create competitive advantage. This accelerated share repurchase program demonstrates the company’s confidence in the long-term health and resiliency of our business model, our differentiated capabilities, and our ability to execute. We expect to continue utilizing our strong balance sheet and balanced, disciplined approach to capital allocation to generate superior returns for our investors and long-term value for all our key stakeholders.”

Since 2015, WNS has repurchased 9.9 million shares of stock at an average price of $50.47.

About WNS

WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process Management (BPM) company. WNS combines deep industry knowledge with technology, analytics and process expertise to co-create innovative, digitally led transformational solutions with over 400 clients across various industries. WNS delivers an entire spectrum of BPM solutions including industry-specific offerings, customer experience services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of March 31, 2023, WNS had 59,755 professionals across 64 delivery centers worldwide including facilities in Canada, China, Costa Rica, India, Malaysia, the Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, the United Kingdom, and the United States. For more information, visit www.wns.com.

Safe Harbor Provision

This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most recent Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230518005815/en/

Investors:

David Mackey

EVP – Finance & Head of Investor Relations

WNS (Holdings) Limited

+1 (646) 908-2615

david.mackey@wns.com

Media:

Archana Raghuram

Global Head – Marketing & Communications and Corporate Business Development

WNS (Holdings) Limited

+91 (22) 4095 2397

archana.raghuram@wns.com; pr@wns.com

Source: WNS (Holdings) Limited

FAQ

What did WNS announce?

WNS announced its approval for share repurchases for fiscal 2024 under its existing share repurchase program.

When will the share repurchases begin?

The company plans to begin the repurchases immediately.

What does this announcement indicate?

This announcement indicates WNS's confidence in the long-term health of its business model and potential for superior returns for investors.

How many shares has WNS repurchased since 2015?

WNS has repurchased 9.9 million shares of stock since 2015 at an average price of $50.47.