REG - Spectris PLC - Share Buyback Programme

SpectrisAnnouncement

28/04/2022 07:15

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RNS Number : 6157J  Spectris PLC  28 April 2022

Share buyback programme

28 April 2022 - Spectris plc (SXS: LSE) ('Spectris' or 'the Group'), the
expert in providing insight through precision measurement, announces that, in
connection with the £300 million share buyback announced on 19 April 2022, it
is commencing a share repurchase programme of the Group's ordinary shares of 5
pence each (the 'Ordinary Shares') (the 'Programme'). The Programme will be
carried out in tranches and its purpose is to reduce the Group's outstanding
Ordinary Shares and accordingly the Group intends to cancel the Ordinary
Shares purchased under the Programme.

The first tranche of the Programme will be carried out through an irrevocable
non-discretionary agreement with Jefferies International Limited
('Jefferies'), pursuant to which Jefferies shall purchase Ordinary Shares as
principal (and not as agent of Spectris plc) for the subsequent sale on to,
and purchase by, Spectris plc. This first tranche will run from 28 April 2022
and end no later than 31 December 2022 (subject to no regulatory objections or
concerns arising), for an aggregate consideration of up to, but no greater
than, £150 million. The maximum number of Ordinary Shares that can be
purchased under the first tranche of the Programme is 7,469,201 Ordinary
Shares (based on authority granted at the Group's 2021 annual general
meeting). Jefferies will make its trading decisions in relation to the
Ordinary Shares independently of, and uninfluenced by, the Group.

Any purchase of Ordinary Shares under the first tranche of the Programme will
be carried out on the London Stock Exchange and any other UK recognised
investment exchange which may be agreed, in accordance with pre-set parameters
and in accordance with (and subject to limits prescribed by) the Group's
general authority to repurchase Ordinary Shares granted by its shareholders at
its most recent annual general meeting, 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). The Group will
announce any market repurchases of Ordinary Shares no later than 7.30 a.m. on
the business day following the calendar day on which the repurchase
occurred.

For and on behalf of Spectris plc

LEI Number: 213800Z4CO2CZO3M3T10

Contacts:
Spectris plc

Siobhán Andrews

Head of Corporate Affairs

+44 20 4551 4549 / +44 7920 230093

Tulchan Communications

Martin Robinson

Giles Kernick

+44 20 7353 4200

 

About Spectris

Spectris' global group of businesses are focused on delivering value beyond
measure for all our stakeholders. We target global, attractive and sustainable
markets, where growth and high returns are supported by long-term drivers.
Precision is at the heart of what we do. We provide customers with expert
insight through our advanced instruments and test equipment, augmented by the
power of our software and services. This equips customers with the ability to
reduce time to market, improve processes, quality and yield. In this way,
Spectris know-how creates value for our wider society, as our customers
design, develop, test and manufacture their products to make the world a
cleaner, healthier and more productive place. Headquartered in London, United
Kingdom, Spectris employs approximately 7,600 people located in more than 30
countries. For more information, visit www.spectris.com
(http://www.spectris.com) .

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