Spectris PLC Share buyback programme (5576W)
13 Diciembre 2023 - 1:00AM
UK Regulatory
TIDMSXS
RNS Number : 5576W
Spectris PLC
13 December 2023
Share buyback programme
13 December 2023 - Spectris plc (SXS: LSE) ('Spectris' or 'the
Group'), the expert in providing insight through precision
measurement, announces that, in connection with the up to GBP150
million share buyback announced on 11 December 2023, it is
commencing the first tranche of a share repurchase programme of the
Group's ordinary shares of 5 pence each (the 'Ordinary Shares')
(the 'Programme'). The purpose of the Programme is to reduce the
Group's outstanding Ordinary Shares and accordingly the Group
intends to cancel the Ordinary Shares purchased under the
Programme.
The first tranche of the Programme will be carried out through
an irrevocable non-discretionary agreement with Merrill Lynch
International ('Merrill Lynch'), pursuant to which Merrill Lynch
shall purchase Ordinary Shares as principal (and not as agent of
Spectris plc) for the subsequent sale on to, and purchase by,
Spectris plc. This first tranche will run from 13 December 2023 and
end no later than 31 May 2024 (subject to no regulatory objections
or concerns arising), for an aggregate consideration of GBP50.0
million. The maximum number of Ordinary Shares that can be
purchased under the first tranche of the Programme is 8,227,673
Ordinary Shares (based on authority granted at the Group's 2023
annual general meeting). Merrill Lynch will make its trading
decisions in relation to the Ordinary Shares independently of, and
uninfluenced by, the Group.
Any purchase of Ordinary Shares under the first tranche of the
Programme will be carried out on the London Stock Exchange and any
other UK recognised investment exchange which may be agreed, in
accordance with pre-set parameters and in accordance with (and
subject to limits prescribed by) the Group's general authority to
repurchase Ordinary Shares granted by its shareholders at its most
recent annual general meeting, 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). The Group will announce any
market repurchases of Ordinary Shares no later than 7.30 a.m. on
the business day following the calendar day on which the repurchase
occurred.
For and on behalf of Spectris plc
LEI Number: 213800Z4CO2CZO3M3T10
Contacts:
Spectris plc
Mathew Wootton
Director of Investor Relations
+44 75000 78880
Tulchan Communications
Martin Robinson
Giles Kernick
+44 20 7353 4200
About Spectris
Spectris combines precision with purpose, delivering progress
for a more sustainable world. We provide critical insights to our
customers through premium precision measurement solutions combined
with technical expertise and deep domain knowledge. Precision is at
the heart of what we do - our leading, high-tech instruments and
software equip our customers to solve some of their greatest
challenges to make the world cleaner, healthier and more
productive. Our two, high quality divisions - Spectris Scientific
and Spectris Dynamics - are placed in technology-driven end
markets, with strong fundamentals and attractive growth
trajectories. We have leading market positions in premium segments
and employ 7,300 people located in more than 30 countries, all
united behind our Purpose to deliver Value Beyond Measure for all
our stakeholders. For more information, visit www.spectris.com
.
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December 13, 2023 02:00 ET (07:00 GMT)
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