EXL announces $125 million accelerated share repurchase program
18 März 2024 - 10:12PM
EXL [NASDAQ: EXLS], a leading data analytics and digital operations
and solutions company, today announced that, as part of its capital
allocation program, it has entered into an accelerated share
repurchase agreement (the “ASR”) with Citibank, N.A. to repurchase
$125 million of the company’s common stock.
“Embracing a differentiated data- and AI-led strategy has
empowered EXL to provide a richer value proposition for our
clients, enhancing operational efficiencies, improving customer
service and delivering value at an accelerated pace,” said Rohit
Kapoor, vice chairman and chief executive officer of EXL. “The ASR
reflects our steadfast dedication to maximizing stockholder value
while driving innovation and growth.”
Under the ASR, the company will pay an aggregate amount of $125
million to Citibank for an initial number of shares of the
company’s common stock at the beginning of the transaction. The
company plans to fund the repurchase with available cash on hand
and/or borrowing from its credit facility. The ultimate number of
shares of common stock that the company will repurchase under the
ASR Agreement will be based on the average of the daily
volume-weighted average prices of the common stock during the term
of the ASR, less a discount and subject to adjustments
pursuant to the terms and conditions of the ASR. The ASR is a part
of the company’s current $500 million stock repurchase program.
About EXL
EXL (NASDAQ: EXLS) is a leading data analytics and digital
operations and solutions company. We partner with clients using a
data and AI-led approach to reinvent business models, drive better
business outcomes and unlock growth with speed. EXL harnesses the
power of data, analytics, AI, and deep industry knowledge to
transform operations for the world’s leading corporations in
industries including insurance, healthcare, banking and financial
services, media and retail, among others. EXL was founded in 1999
with the core values of innovation, collaboration, excellence,
integrity and respect. We are headquartered in New York and have
more than 54,000 employees spanning six continents. For more
information, visit www.exlservice.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the United States Private Securities Litigation
Reform Act of 1995. You should not place undue reliance on those
statements because they are subject to numerous uncertainties and
factors relating to EXL's operations and business environment, all
of which are difficult to predict and many of which are beyond
EXL’s control. Forward-looking statements include information
concerning EXL’s possible or assumed future results of operations,
including descriptions of its business strategy. These statements
may include words such as “may,” “will,” “should,” “believe,”
“expect,” “anticipate,” “intend,” “plan,” “estimate” or similar
expressions. These statements are based on assumptions that we have
made in light of management's experience in the industry as well as
its perceptions of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
under the circumstances. You should understand that these
statements are not guarantees of performance or results. They
involve known and unknown risks, uncertainties and assumptions.
Although EXL believes that these forward-looking statements are
based on reasonable assumptions, you should be aware that many
factors could affect EXL’s actual financial results or results of
operations and could cause actual results to differ materially from
those in the forward-looking statements. These factors, which
include our ability to maintain and grow client demand, our ability
to hire and retain sufficiently trained employees, and our ability
to accurately estimate and/or manage costs, rising interest rates,
rising inflation and recessionary economic trends, are discussed in
more detail in EXL’s filings with the Securities and Exchange
Commission, including EXL’s Annual Report on Form 10-K. You should
keep in mind that any forward-looking statement made herein, or
elsewhere, speaks only as of the date on which it is made. New
risks and uncertainties come up from time to time, and it is
impossible to predict these events or how they may affect EXL. EXL
has no obligation to update any forward-looking statements after
the date hereof, except as required by federal securities laws.
© 2024 ExlService Holdings, Inc. All rights reserved.
For more information go
to www.exlservice.com/legal-disclaimer
ContactsMedia Keith Little+1
703-598-0980 media.relations@exlservice.com
Investor RelationsJohn Kristoff+1 212 209
4613IR@exlservice.com
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