Share Repurchase Programme
On 11 November 2021, Smiths Group plc announced its intention to commence a share repurchase programme of its ordinary shares up to a maximum consideration of £742 million. 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.