|WNS (HOLDINGS) LTD filed this Form 6-K on 11/05/2018|
In March 2018, our shareholders authorized a share repurchase program for the repurchase of up to 3.3 million of our ADSs, each representing one ordinary share, at a price range of $10 to $100 per ADS. Pursuant to the terms of the repurchase program, our ADSs may be purchased in the open market from time to time for 36 months from March 30, 2018, the date on which the shareholders resolution approving the repurchase program was passed. We intend to fund the repurchases of ADSs under the repurchase program with cash on hand. We are not obligated under the repurchase program to repurchase a specific number of ADSs, and the repurchase program may be suspended at any time at our discretion. We intend to hold the shares underlying any such repurchased ADSs as treasury shares.
During the six months ended September 30, 2018, we repurchased 1,100,000 ADSs for a total consideration of $56.3 million (including transaction costs of $11,000), in the open market, under the above-mentioned share repurchase program. The shares underlying these ADSs are recorded as treasury shares.
During the three months ended September 30, 2018, we received authorization from the Board of Directors to cancel, and cancelled, 4,400,000 ADSs that were held as treasury shares for an aggregate cost of $134.2 million. The effect of cancellation of these treasury shares was recognized in share capital amounting to $0.6 million and in share premium amounting to $133.6 million, in compliance with Jersey Law. There was no effect on the total shareholders equity as a result of this cancellation.
The table below sets forth the details of ADSs repurchased during the six months ended September 30, 2018 under the above mentioned share repurchase program: