Business
Share Buyback Programme
Share Buyback Programme.
About this update from Smiths Group Plc
[{"type":"text","content":"\n\n25 March 2025\n \nSMITHS GROUP PLC\n \nSHARE BUYBACK PROGRAMME\n \nSmith 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.\n \nThe 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).\nEnquiries:\n \n\n\n\n\nInvestor enquiries\nSteph Heathers, Smiths Group\n+44 (0)7584 113633\[email protected]\n \n\n\nMedia enquiries\nTom Steiner, Smiths Group\n+44 (0) 7787 415891\[email protected]\n \n\n\n\n\nSiobhán Andrews, Smiths Group\n+44 (0)7920 230093\[email protected]\n \nCompany Secretary\n\n\n\n\n\n\n\nMatthew Whyte\n+44 (0) 7775 982 879\[email protected]\n \nLegal Entity Identifier (LEI): 213800MJL6IPZS3ASA11\n \nAbout Smiths Group\n \nFor 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-...