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On 26 November 2025, Smiths Group PLC announced the commencement of the first tranche of its recently announced £1 billion share buyback programme. This first tranche is for up to £600 million of ordinary shares and is subject to the 19 November 2025 AGM authority for a maximum of 32,653,430 shares. HSBC Bank plc will manage this first tranche, which is expected to complete by 31 July 2026, with purchased ordinary shares to be cancelled.
| Date | 26 Nov 2025 |
| Time | 15:30:01 |
| Category | Miscellaneous |
| ID | 1506J |
26 November 2025
SMITHS GROUP PLC
SHARE BUYBACK PROGRAMME
Smith Group plc ("Smiths" or the "Company") announces that, in connection with the recently announced £1 billion share buyback programme (the "Programme"), Smiths will shortly 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 £600 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 19 November 2025 (the 2025 AGM authority is for a maximum of 32,653,430 shares). The Programme which will commence when the current £350 million buyback completes is expected to be substantially completed by the end of calendar year 2026 with the first £600 million tranche completing by 31 July 2026. 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 first 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
Siobhán Andrews, Investor Relations
+44 (0)7920 230093
Ana Pita da Veiga, Investor Relations
+44 (0)7386 689442
Tom Steiner, External Communications
+44 (0)7787 415891
Matthew Whyte, Company Secretary
+44 (0)20 7004 1600
Legal Entity Identifier (LEI): 213800MJL6IPZS3ASA11
About Smiths Group
For over 170 years, we have been pioneers of progress, engineering a better future. Our strategy is to be a focused, efficient and value creating industrial engineering company operating in the attractive and growing market segments of energy, industrials and construction. We focus on solving the toughest problems for our customers, helping address critical global needs such as decarbonisation and the ever-increasing demand for process and energy efficiency. Listed on the London Stock Exchange, we employ c.16,000 colleagues in over 50 countries. For more, visit www.smiths.com.