Spectris plc - Share repurchase programme

Spectris plc - Share repurchase programme

Spectris plc (the Company) announces that, in connection with the 15 month share buyback programme of up to £100 million which it announced on 19 February 2018, it is commencing a share buyback programme (the Programme) to purchase shares up to a value not exceeding £100 million subject to remaining within the AGM authority (at the 26 May 2017 AGM, shareholders gave the Company authority to purchase a maximum of 11,919,200 ordinary shares) during the period starting on 5 March 2018 and ending no later than 5 June 2019 (the Engagement Period) in order to reduce the capital of the Company.

The Company has entered into an agreement with J.P. Morgan Securities plc (JPMS plc) under which it has issued an instruction to JPMS plc to manage the Programme. JPMS plc will carry out the instruction through the acquisition of ordinary shares in the Company for subsequent repurchase by the Company. This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company’s general authority to repurchase shares.

JPMS plc may undertake transactions in shares (which may include sales and hedging activities, in addition to purchases which may take place on any available trading venue or on an over the counter basis) during the Engagement Period in order to manage its market exposure under the Programme. Disclosure of such transactions will not be made by JPMS plc as a result of or as part of the Programme, but JPMS plc will continue to make any disclosures it is otherwise legally required to make. 

Enquiries:

Siobhán Andrews, Head of Corporate Affairs
[phone]