REG - Smiths Group PLC - Share Buyback Programme

SmithsAnnouncement

25/03/2025 07:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250325:nRSY0408Ca&default-theme=true

RNS Number : 0408C  Smiths Group PLC  25 March 2025

25 March 2025

 

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 £500 million, Smiths will
imminently commence the next tranche of the Programme to purchase ordinary
shares in the capital of the Company (the "Ordinary Shares") with a value of
up to £350 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 13 November 2024 (the 2024 AGM authority is
for a maximum of 34,456,378 shares). The programme is expected to be completed
by the end of calendar year 2025. 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 HSBC Bank plc ("HSBC") under
which it has issued an instruction to HSBC to manage the next tranche of the
Programme. HSBC 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

 Steph Heathers, Smiths Group                                           Tom Steiner, Smiths Group

 +44 (0)7584 113633                                                     +44 (0) 7787 415891

 stephanie.heathers@smiths.com (mailto:stephanie.heathers@smiths.com)   tom.steiner@smiths.com (mailto:smiths@fticonsulting.com)

 Siobhán Andrews, Smiths Group

 +44 (0)7920 230093

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

 Company Secretary

Matthew Whyte

+44 (0) 7775 982 879

matthew.whyte@smiths.com

 

Legal Entity Identifier (LEI): 213800MJL6IPZS3ASA11

 

About Smiths Group

 

For over 170 years, Smiths Group has been pioneering progress by engineering a
better future. We serve millions of people every year, to help create a safer,
more efficient and productive, and better-connected world, across four global
markets:  energy, safety & security, aerospace & defence, and general
industrial. Listed on the London Stock Exchange, Smiths employs c.15,000
colleagues in over 50 countries. For more information visit www.smiths.com.

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  POSEAXDSAEPSEEA