Smiths Group PLC Share buyback programme
26 Marzo 2024 - 8:15AM
RNS Regulatory News
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:
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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