SEC Filings

6-K
WNS (HOLDINGS) LTD filed this Form 6-K on 01/31/2019
Entire Document
 


Table of Contents

Part IV — OTHER INFORMATION

Share Repurchases

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 nine months ended December 31, 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 nine months ended December 31, 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 nine months ended December 31, 2018 under the above mentioned share repurchase program:

 

Period

   No. of
ADSs

purchased
     Average price
paid per ADS
(in $)
     Total number of ADSs
purchased as part of
publicly announced
plans or programs
     Approximate US
dollar value (in 000s) of
ADSs that may yet be
repurchased
under the  program
(assuming purchase
price of $100 per ADS)
 

April 1 to April 30, 2018

     —          —          —          330,000  

May 1 to May 31, 2018

     120,500        50.09        120,500        317,950  

June 1 to June 30, 2018

     329,800        52.44        329,800        284,970  

July 1, to July 31, 2018

     408,142        50.64        408,142        244,156  

August 1, to August 31, 2018

     241,558        50.86        241,558        220,000  

September 1, to September 30, 2018

     —          —          —          220,000  

October 1, to October 31, 2018

     —          —          —          220,000  

November 1, to November 30, 2018

     —          —          —          220,000  

December 1, to December 31, 2018

     —          —          —          220,000  

Total

     1,100,000        51.17        1,100,000        —    

 

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