REG - Smiths Group PLC - Share Buyback Programme

SmithsAnnouncement

30/06/2022 14:00

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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

Jemma.spalton@smiths.com (mailto:Jemma.spalton@smiths.com)

Matthew Whyte, Company Secretary

+44 (0)20 7004 1600

Matthew.whyte@smiths.com

 

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
(http://www.smiths.com/) .

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