Share Buyback Programme
Summary by AI BETAClose X
22 September 2026
SMITHS GROUP PLC
SHARE BUYBACK PROGRAMME
Smith Group plc ("Smiths" or the "Company") announces that, in connection with the £1.5bn share buyback programme announced on 30 June 2026 (the "Programme"), of which the initial £300m is currently being executed, Smiths will shortly commence a new tranche of the Programme. The new tranche will comprise the purchase of ordinary shares in the capital of the Company (the "Ordinary Shares") with a value of up to £500 million, subject to remaining within the Company's general authority to repurchase Ordinary Shares, as granted by its shareholders at its General Meeting held on 23 July 2026 (for a maximum of 45,040,699 shares), and any subsequent renewal, extension or replacement authority granted by the Company's shareholders from time to time at any Annual General Meeting or other general meeting. The new tranche of the Programme, which will commence when the current £700 million buyback completes, is expected to be completed by 31 March 2027. The purpose of the Programme is to reduce the share capital of Smiths. Ordinary Shares acquired under the new tranche of the Programme may either be cancelled or held in treasury, at the Company's discretion.
The Company has entered into an agreement with HSBC Bank plc ("HSBC") under which it has issued an instruction to HSBC to manage the new tranche of the Programme. HSBC will carry out the instruction through the acquisition of Ordinary Shares in the Company for subsequent repurchase by the Company, with such Ordinary Shares to be either cancelled or held in treasury, at the Company's discretion. This arrangement is in accordance with the Company's general authority to repurchase Ordinary Shares, Chapter 12 of the Financial Conduct Authority's Listing Rules, Article 5(1)(b) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).
Enquiries:
|
Investor enquiries
|
Media enquiries
|
|
Siobhán Andrews, Smiths Group +44 (0)7920 230093
|
Tom Steiner, Smiths Group +44 (0) 7787 415891 tom.steiner@smiths.com
|
|
Ana Pita da Veiga, Smiths Group +44 (0)7386 689442
|
Alex Le May, FTI Consulting +44 (0)7702 443312
|
Legal Entity Identifier (LEI): 213800MJL6IPZS3ASA11
About Smiths Group
For 175 years, we have been pioneers of progress, engineering a better future. Our strategy is to be a focused, efficient and value creating industrial engineering company operating in the attractive and growing market segments of flow control, thermal solutions, construction and aerospace.
We focus on solving the toughest problems for our customers, helping address critical global needs such as decarbonisation and the ever-increasing demand for process and energy efficiency.
We are pioneers of progress. Engineering a better future, we drive efficiency for customers in mission-critical situations. We are united by our purpose. It is what we do, how we think, and how we will continue to use our passion for innovative engineering. For more information visit www.smiths.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 38 minutes ago Diageo
- 44 minutes ago IMI
- 1 hour ago Softcat
- 4 hours ago Tertiary Minerals
- 4 hours ago Hargreaves Services