Skip to main content

26 March 2024

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:

Investor enquiries
Siobhán Andrews, Smiths Group
+44 (0)7920 230093
siobhan.andrews@smiths.com
 
Matthew Whyte
Company Secretary
+44 (0) 7775 982 879
Matthew.whyte@smiths.com 

Media enquiries
Tom Steiner, Smiths Group
+44 (0)7787 415 891
tom.steiner@smiths.com 

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.

Related articles

Diffraction (1)

Smiths Detection launches X-ray Diffraction technology to combat illegal narcotics and contraband trafficking  

Find out more Call to action arrow icon
Earth View

Half year results for 6 months ended 31 January 2024

Find out more Call to action arrow icon
Roland Carter

Appointment of Chief Executive Officer

Find out more Call to action arrow icon
Sign up for updates Call to action arrow icon