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Share Buyback Programme

25th Mar 2025 07:15

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

Steph Heathers, Smiths Group

+44 (0)7584 113633

[email protected]

 

Media enquiries

Tom Steiner, Smiths Group

+44 (0) 7787 415891

[email protected]

 

Siobhán Andrews, Smiths Group

+44 (0)7920 230093

[email protected]

 

Company Secretary

Matthew Whyte

+44 (0) 7775 982 879

[email protected]

 

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.

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