REG - Smith & Nephew Plc - Share Buyback Programme

Smith & NephewAnnouncement

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RNS Number : 4819D  Smith & Nephew Plc  08 May 2026

 

 

8 May 2026

 

 

Share Buyback Programme

 

Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology business, today
provides the following update in relation to the share buyback programme
announced on 6 May 2026.

 

Smith+Nephew has entered into a non-discretionary agreement with Merrill Lynch
International in relation to the latter's purchase, acting as riskless
principal, of the Company's ordinary shares of USD $0.20 each for an aggregate
price of up to USD $250 million as part of the first tranche of the programme.

 

Shares acquired by Merrill Lynch International will be subsequently
repurchased by Smith+Nephew, held as treasury shares and then either be
cancelled or retained for the purpose of satisfying awards under employee
share plans. The first tranche of the programme will commence on 8 May 2026
and will end no later than 7 September 2026. The purpose of the programme is
to reduce Smith+Nephew's issued share capital by returning surplus capital to
shareholders.

 

Any purchase of shares contemplated by this announcement will be carried out
on Recognised Investment Exchanges(1) and will be effected with certain
pre-set parameters. The maximum number of ordinary shares which may be
purchased by the Company is 84,988,930 ordinary shares, which is the maximum
pursuant to the authority granted by shareholders at the Company's 2026 Annual
General Meeting.

 

The programme will be executed in accordance with (and subject to the
existence of and/or the limits prescribed by) the general authority granted by
shareholders at the Company's relevant Annual General Meeting; and will be
conducted within the parameters prescribed by the Market Abuse Regulation
596/2014/EU as it forms part of domestic law by virtue of section 3 of the
European Union (Withdrawal) Act 2018 (as amended) and Chapter 9 of the
Financial Conduct Authority's UK Listing Rules. No repurchases will be made in
respect of the Company's American Depositary Receipts.

 

Merrill Lynch International 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 period of the programme in order to manage its market exposure under the
programme. Disclosure of such transactions will not be made by Merrill Lynch
International as a result of or as part of the programme, but Merrill Lynch
International will continue to make any disclosures it is otherwise legally
required to make.

 

Smith+Nephew will make further announcements in due course following any
repurchase of shares. There is no guarantee that the programme will be
implemented in full or that any shares will be bought back by the Company.

 

 

Notes

1. Includes the London Stock Exchange, Cboe Europe Limited and Turquoise and
Aquis Stock Exchange.

 

Investor contacts

 Emily Heaven, Smith+Nephew      +44 (0) 7811 919437
 Craig Bijou, Smith+Nephew       +1 (475) 850-8282

 Media contacts
 Charles Reynolds, Smith+Nephew  +44 (0) 1923 477314

 

About Smith+Nephew

Smith+Nephew is a portfolio medical technology business focused on the repair,
regeneration and replacement of soft and hard tissue. We exist to restore
people's bodies and their self-belief by using technology to take the limits
off living. We call this purpose 'Life Unlimited'. Our 17,000 employees
deliver this mission every day, making a difference to patients' lives through
the excellence of our product portfolio, and the invention and application of
new technologies across our three global business units of Orthopaedics,
Sports Medicine & ENT and Advanced Wound Management.

Founded in Hull, UK, in 1856, we now operate in around 100 countries, and
generated annual sales of $6.2 billion in 2025. Smith+Nephew is a constituent
of the FTSE100 (LSE:SN, NYSE:SNN). The terms 'Group' and 'Smith+Nephew' are
used to refer to Smith & Nephew plc and its consolidated subsidiaries,
unless the context requires otherwise.

For more information about Smith+Nephew, please visit www.smith-nephew.com
(http://www.smith-nephew.com/) and follow us on X
(http://www.twitter.com/smithnephewplc) , LinkedIn
(http://www.linkedin.com/company/smith-%26-nephew) , Instagram
(https://www.instagram.com/smithnephewmeded/) or Facebook
(http://www.facebook.com/smithnephewplc) .

Forward-looking Statements

This document may contain forward-looking statements that may or may not prove
accurate. For example, statements regarding expected revenue growth and
trading profit margins, market trends and our product pipeline are
forward-looking statements. Phrases such as "aim", "plan", "intend",
"anticipate", "well-placed", "believe", "estimate", "expect", "target",
"consider" and similar expressions are generally intended to identify
forward-looking statements. Forward-looking statements involve known and
unknown risks, uncertainties and other important factors that could cause
actual results to differ materially from what is expressed or implied by the
statements. For Smith+Nephew, these factors include: conflicts in Europe and
the Middle East, economic and financial conditions in the markets we serve,
especially those affecting healthcare providers, payers and customers; price
levels for established and innovative medical devices; developments in medical
technology; regulatory approvals, reimbursement decisions or other government
actions; product defects or recalls or other problems with quality management
systems or failure to comply with related regulations; litigation relating to
patent or other claims; legal and financial compliance risks and related
investigative, remedial or enforcement actions; disruption to our supply chain
or operations or those of our suppliers; competition for qualified personnel;
strategic actions, including acquisitions and disposals, our success in
performing due diligence, valuing and integrating acquired businesses;
disruption that may result from transactions or other changes we make in our
business plans or organisation to adapt to market developments; relationships
with healthcare professionals; reliance on information technology and
cybersecurity; disruptions due to natural disasters, weather and climate
change related events; changes in customer and other stakeholder
sustainability expectations; changes in taxation regulations; effects of
foreign exchange volatility; and numerous other matters that affect us or our
markets, including those of a political, economic, business, competitive or
reputational nature. Please refer to the documents that Smith+Nephew has filed
with the U.S. Securities and Exchange Commission under the U.S. Securities
Exchange Act of 1934, as amended, including Smith+Nephew's most recent annual
report on Form 20-F, which is available on the SEC's website at www. sec.gov,
for a discussion of certain of these factors. Any forward-looking statement is
based on information available to Smith+Nephew as of the date of the
statement. All written or oral forward-looking statements attributable to
Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake
any obligation to update or revise any forward-looking statement to reflect
any change in circumstances or in Smith+Nephew's expectations.

(◊) Trademark of Smith+Nephew. Certain marks are registered with the US
Patent and Trademark Office.

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