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Smiths Group PLC (SMIN)

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Thursday 30 June, 2022

Smiths Group PLC

Share Buyback Programme

RNS Number : 8686Q
Smiths Group PLC
30 June 2022
 

30 June 2022

 

 

SMITHS GROUP PLC

 

SHARE BUYBACK PROGRAMME

 

Smith Group plc ("Smiths" or the "Company") announces that, in connection with the share buyback programme (the "Programme") of up to £742 million which it announced on 11 November 2021, Smiths will commence the fourth tranche of the Programme to purchase ordinary shares in the capital of the Company (the "Ordinary Shares") with a value of up to £250 million subject to remaining within the Company's general authority to repurchase Ordinary Shares granted by its shareholders at its General Meeting (GM) on 17 November 2021 (the 2021 GM authority is for a maximum of 59,435,913 shares). The fourth tranche will commence when the third tranche of the Programme concludes, no later than 15thJuly 2022 and will end no later than 15 October 2022 (the "Engagement Period"). The purpose of the Programme is to reduce the share capital of Smiths. 

 

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 fourth tranche of the Programme. JPMS plc will carry out the instruction through the acquisition of Ordinary Shares in the Company for subsequent repurchase and cancellation by the Company. 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) 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:

 

Jemma Spalton, Director of Communications & Investor Relations
+44 (0)20 7004 1600

[email protected]


Matthew Whyte, Company Secretary
+44 (0)20 7004 1600

[email protected]

 

Legal Entity Identifier (LEI): 213800MJL6IPZS3ASA11

 

 

About Smiths Group

 

For over 170 years, Smiths Group has been pioneering progress by improving the world through smarter engineering. We serve millions of people every year, to help create a safer, more efficient and better-connected world, across four major global markets:  Energy, General Industry, Security & Defence, and Aerospace. Listed on the London Stock Exchange, Smiths employs c. 14,600 colleagues in over 50 countries. For more information visit  www.smiths.com .

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