REG - Spectris PLC - Share buyback programme

SpectrisAnnouncement

08/08/2022 07:00

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RNS Number : 1702V  Spectris PLC  08 August 2022

Share buyback programme

8 August 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 the second tranche of a share repurchase programme of the
Group's ordinary shares of 5 pence each (the 'Ordinary Shares') (the
'Programme'). The purpose of the Programme is to reduce the Group's
outstanding Ordinary Shares and accordingly the Group intends to cancel the
Ordinary Shares purchased under the Programme.

The second tranche of the Programme will be carried out through an irrevocable
non-discretionary agreement with Merrill Lynch International ('Merrill
Lynch'), pursuant to which Merrill Lynch 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 second tranche will run from 8 August 2022
and end no later than 16 December 2022 (subject to no regulatory objections or
concerns arising), for an aggregate consideration of up to, but no greater
than, £50 million. The maximum number of Ordinary Shares that can be
purchased under the second tranche of the Programme is 11,082,352 Ordinary
Shares (based on authority granted at the Group's 2022 annual general
meeting). Merrill Lynch 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 second 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 7,350 people located in more than 30
countries. For more information, visit www.spectris.com.

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