REG - Smiths Group PLC - SHARE BUYBACK PROGRAMME

SmithsAnnouncement

29/03/2023 07:00

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RNS Number : 5332U  Smiths Group PLC  29 March 2023

29 March 2023

 

SMITHS GROUP PLC

 

SHARE BUYBACK PROGRAMME

 

Smiths 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 has extended the fifth
tranche of the Programme to purchase ordinary shares in the capital of the
Company (the "Ordinary Shares") with a value of up to £83 million, subject
to remaining within the Company's general authority to repurchase Ordinary
Shares granted by its shareholders at its General Meeting on 17 November 2021
(the 2021 GM authority is for a maximum of 59,435,913 shares).

 

The Company has extended the agreement with Goldman Sachs International
("Goldman Sachs") under which Goldman Sachs will continue to manage the fifth
tranche of the Programme which will conclude no later than 30 September 2023
or once the £742 million programme has completed (the "Engagement Period").
The purpose of the Programme is to reduce the share capital of Smiths.

 

Goldman Sachs 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).

 

Goldman Sachs may undertake transactions in the Company's Ordinary 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 Engagement Period in order to manage its market exposure
under the Programme. Disclosure of such transactions will not be made
by Goldman Sachs as a result of or as part of the Programme, but Goldman
Sachs will continue to make any disclosures it is otherwise legally required
to make.

 

Enquiries:

 

Jemma Spalton, Director of Communications & Investor Relations

+44 (0)20 7004 1600

Jemma.splaton@smiths.com (mailto:Jemma.splaton@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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