REG - Smith & Nephew Plc - Transaction in Own Shares

Smith & NephewAnnouncement

08/08/2022 14:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220808:nRSH2942Va&default-theme=true

RNS Number : 2942V  Smith & Nephew Plc  08 August 2022

8 August 2022

Share Buyback Programme

Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology company, today
provides the following update in relation to the share buy-back programme
announced on 16 December 2021 (the "Programme").

The purpose of the Programme is to reduce the issued share capital of
Smith+Nephew by returning surplus capital to shareholders. The Programme
commenced on 22 February 2022 and, to date, US$125 million of the 2022
buy-back has been completed.

In order to conclude the Programme to the level previously guided for 2022, a
further tranche of share repurchases will commence on 9 August 2022 and will
end no later than 16 September 2022.

A maximum of 3,000,000 ordinary shares of nominal value US$0.20 each will be
purchased under this tranche of the Programme each through J.P. Morgan
Securities plc acting as riskless principal. The maximum pecuniary amount that
will be purchased under this tranche of the Programme is US$25m. Shares
acquired by J.P. Morgan will be subsequently repurchased by Smith+Nephew, held
as treasury shares and then either cancelled or allocated to employee share
awards as they fall due.

Any purchase of shares contemplated by this announcement will be carried out
on the London Stock Exchange. Smith+Nephew's shareholders generally authorised
it to purchase up to a maximum of 87,987,599 ordinary shares at its 2022
Annual General Meeting held on 13 April 2022, subject to certain limitations
(the "General Authority"). That General Authority expires on 26 April 2023,
the date of the 2023 Annual General Meeting of the Company, when the Company's
shareholders will be asked to authorise another such general authority (being,
if approved, also a "General Authority"). The aggregate number of ordinary
shares acquired by the Company pursuant to the Programme shall not exceed the
maximum number of ordinary shares which the Company is authorised to purchase
pursuant to a relevant General Authority.

The Programme will be executed in accordance with (and subject to the
existence of and/or the limits prescribed by) a relevant General Authority;
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 12 of the
Financial Conduct Authority's Listing Rules.   No repurchases will be made
in respect of the Company's American Depositary Receipts.

 

 

Enquiries:

 Investors          +44 (0) 1923 477433

Andrew Swift

Smith+Nephew
 Media              +44 (0) 1923 477314

Charles Reynolds

Smith+Nephew

 

 

About Smith+Nephew

Smith+Nephew is a portfolio medical technology company that exists 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 18,000 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 franchises of
Orthopaedics, Advanced Wound Management and Sports Medicine & ENT. Founded
in Hull, UK, in 1856, we now operate in more than 100 countries, and generated
annual sales of $5.2 billion in 2021. 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
(https://www.smith-nephew.com/)  and follow us on Twitter
(https://twitter.com/SmithNephewPLC) , LinkedIn
(https://www.linkedin.com/company/smith-&-nephew/) , Instagram
(https://www.instagram.com/smithnephewmeded/)  or Facebook
(https://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 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: risks related to the impact of COVID-19,
such as the depth and longevity of its impact, government actions and other
restrictive measures taken in response, material delays and cancellations of
elective procedures, reduced procedure capacity at medical facilities,
restricted access for sales representatives to medical facilities, or our
ability to execute business continuity plans as a result of COVID-19; economic
and financial conditions in the markets we serve, especially those affecting
health care providers, payers and customers (including, without limitation, as
a result of COVID-19); 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
compliance risks and related investigative, remedial or enforcement actions;
disruption to our supply chain or operations or those of our suppliers
(including, without limitation, as a result of COVID-19); competition for
qualified personnel; strategic actions, including acquisitions and
dispositions, 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; 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, 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 registered US Patent and
Trademark Office.

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  POSSSWFDAEESESA