Smiths Extends Fifth Tranche Of Share Buyback To Buy Up To £83 Mln Shares

Engineering company Smiths Group PLC (SMIN.L) announced Wednesday that it has extended the fifth tranche of its share buyback programme to purchase ordinary shares with a value of up to 83 million pounds.

It was in November last year that the company announced its share buyback programme of up to 742 million pounds.

The company now said it has extended the agreement with Goldman Sachs International, under which Goldman Sachs will continue to manage the fifth tranche of the Programme which will conclude no later than September 30, 2023 or once the 742 million pounds programme has completed. The purpose of the Programme is to reduce the share capital of Smiths.

Goldman Sachs will carry out the instruction through the acquisition of Ordinary Shares in the company for subsequent repurchase and cancellation by the company.

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