Share buyback programme
Share buyback programme (2024)
On 26 March 2024, Smiths Group plc announced its intention to commence a further share buyback programme of its ordinary shares up to a maximum consideration of £100 million. Up to £50 million is to be completed by the end of September 2024.
A general authority to repurchase ordinary shares was granted by the shareholders at the Annual General Meeting on 16 November 2023 (the 2023 AGM authority is for a maximum of 34,753,833 shares).
J.P. Morgan Securities plc have been instructed to manage the first tranche of the programme. The details of the tranche will be uploaded here.
Share buyback programme (2021-2023)
Smiths Group plc announced its intention to commence a share buyback programme of its ordinary shares up to a maximum consideration of £742 million on 11 November 2021. The purpose of the programme was to reduce the share capital of Smiths Group resulting in 55% of the initial cash proceeds from the sale of Smiths Medical being returned to shareholders.
Shareholder approval for the sale of Smiths Medical and the authority to make market purchases of ordinary shares was granted at Smiths Group’s General Meeting held on 17 November 2021.
The programme was completed in five tranches, with the final purchase taking place on 27 September 2023. Details of each tranche can be found below.
Tranche 2 - 18 February 2022 to 4 April 2022
Tranche 3 - 8 April 2022 to 5 July 2022
Tranche 4 – 6 July 2022 to 15 October 2022
Tranche 5 – 17 October 2022 to 27 September 2023
Sale of Smiths Medical
Smiths sold Smiths Medical on 2 January 2022.