Clarivate Announces New $500 Million Share Repurchase Authorization

LONDON, Dec. 16, 2024 /PRNewswire/ -- Clarivate Plc (NYSE:CLVT) (the "Company" or "Clarivate"), a leading global provider of transformative intelligence, today announced that its Board of Directors (the "Board") authorized a new share repurchase program of up to $500 million of the Company's outstanding ordinary shares through open-market purchases for a period of two years, from January 1, 2025 through December 31, 2026.

The new share repurchase program replaces the current share repurchase program which terminates December 31, 2024, under which the Company repurchased $300 million of ordinary shares, including $200 million during the third and fourth quarters of 2024.

Clarivate also announced that it prepaid $75 million of term-loan debt so far during the fourth quarter, bringing total prepayments in 2024 to $133 million.

"As we execute against our Value Creation Plan, we expect to deploy capital to the most value enhancing opportunities," said Matti Shem Tov, Chief Executive Officer of Clarivate. "This new repurchase program is in line with this goal and reflects the Clarivate Board's strong confidence in the Company's ability to drive growth and enhanced financial performance. We will continue to maintain a balanced approach to our capital allocation program that includes returning capital to shareholders through repurchases and deleveraging."

The new share repurchase program does not obligate Clarivate to repurchase any set dollar amount or number of shares and may be modified, suspended, or terminated at any time without prior notice. Under the new share repurchase program, Clarivate is authorized to conduct open-market purchases of its ordinary shares from time to time through any method or program, including through Rule 10b5-1 trading plans or the use of other techniques as permitted by its shareholder authorization, approved by the Board or a designated committee thereof, and subject to availability of ordinary shares, price, market conditions, alternative uses of capital, and applicable regulatory requirements, at management's discretion.

Forward-Looking Statements
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About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.

SOURCE Clarivate Plc