REG - Smiths Group PLC - Share buyback programme

SmithsAnnouncement

26/03/2024 07:15

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RNS Number : 3012I  Smiths Group PLC  26 March 2024

26 March 2024

 

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 £100 million announced today
as part of the Company's FY2024 Half Year Results, Smiths will with immediate
effect commence the first tranche of the Programme to purchase ordinary shares
in the capital of the Company (the "Ordinary Shares") with a value of up to
£50 million, subject to remaining within the Company's general authority to
repurchase Ordinary Shares granted by its shareholders at its Annual General
Meeting (AGM) on 16 November 2023 (the 2023 AGM authority is for a maximum of
34,753,833 shares). The first tranche will commence on 26 March 2024 and will
end no later than 30 September 2024. The purpose of the Programme is to reduce
the share capital of Smiths and therefore the Ordinary Shares purchased under
the Programme will be cancelled.

 

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
first 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:

 

 Investor enquiries                                               Media enquiries
 Siobhán Andrews, Smiths Group                                    Tom Steiner, Smiths Group

 +44 (0)7920 230093                                               +44 (0)7787 415 891

 siobhan.andrews@smiths.com (mailto:siobhan.andrews@smiths.com)   tom.steiner@smiths.com (mailto:tom.steiner@smiths.com)

 Matthew Whyte

 Company Secretary

 +44 (0) 7775 982 879

 Matthew.whyte@smiths.com (mailto:Matthew.whyte@smiths.com)

 

Legal Entity Identifier (LEI): 213800MJL6IPZS3ASA11

 

About Smiths Group

 

For over 170 years, Smiths Group has been pioneering progress by improving our
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, Safety & Security and
Aerospace. Listed on the London Stock Exchange, Smiths employs more than
15,000 colleagues in over 50 countries. For more information visit
www.smiths.com.

 

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