SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of
1934
February 22, 2022
Commission
File Number 001-14978
SMITH & NEPHEW
plc
(Registrant's
name)
Building 5, Croxley Park,
Hatters Lane, Watford, Hertfordshire, WD18 8YE,
England
(Address
of registrant's principal executive offices)
[Indicate
by check mark whether the registrant files or will file
annual
reports
under cover Form 20-F or Form 40-F.]
Form
20-F
X
Form 40-F
---
---
[Indicate
by check mark if the registrant is submitting the Form 6-K
in
paper
as permitted by Regulation S-T Rule 101(b)(1).]
Yes
No X
---
---
[Indicate
by check mark if the registrant is submitting the Form 6-K
in
paper
as permitted by Regulation S-T Rule 101(b)(7).]
Yes
No X
---
---
[Indicate
by check mark whether by furnishing the information
contained
in this
Form, the registrant is also thereby furnishing information to
the
Commission
pursuant to Rule 12g3-2 (b) under the Securities Exchange Act
of
1934.]
Yes
No X
---
---
If
"Yes" is marked, indicate below the file number assigned to
the
registrant
in connection with Rule 12g3-2 (b) : 82- n/a.
22 February 2022
Share Buyback Programme
Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology
business, today provides the following update in relation to
the
share buyback programme announced on 16 December 2021.
Smith+Nephew has entered into a non-discretionary agreement with
Merrill Lynch International in relation to the latter's purchase,
acting as riskless principal, of the Company's ordinary shares of
USD $0.20 each for an aggregate price of up to USD $125 million as
part of the first tranche of the Programme.
Shares acquired by Merrill Lynch International will be subsequently
repurchased by Smith+Nephew,
held as treasury shares and then cancelled. The first tranche of
the Programme will commence on 23 February 2022 and will end no
later than 27 June 2022. The purpose of the Programme is to reduce
the issued share capital of Smith+Nephew by returning surplus
capital to shareholders.
Any purchase of shares contemplated by this announcement will be
carried out on Recognised Investment Exchanges1
and
will be effected with certain pre-set
parameters.
Smith+Nephew's
shareholders generally authorised it to purchase up to a maximum
of
87,714,311
ordinary
shares at its 2021 Annual General Meeting held
on
14
April 2021,
subject to certain limitations (the "General Authority"). That
authority expires on 13 April 2022, the date of the 2022 Annual
General Meeting of the Company, when the Company's shareholders
will be asked to authorise another such general authority (being,
if approved, also a "General Authority"). The aggregate number of
ordinary shares acquired by the Company pursuant to the Programme
shall not exceed the maximum number of ordinary shares which the
Company is authorised to purchase pursuant to a relevant General
Authority.
The Programme will be executed in accordance with (and subject to
the existence of and/or the limits prescribed by) a relevant
General Authority; and will be conducted within the parameters
prescribed by the Market Abuse Regulation 596/2014/EU as it forms
part of domestic law by virtue of section 3 of the European Union
(Withdrawal) Act 2018 (as amended) and Chapter 12 of the Financial
Conduct Authority's Listing Rules. No repurchases will
be made in respect of the Company's American Depositary
Receipts.
[1]
includes the London Stock Exchange and Cboe Europe
Limited
Enquiries:
Investors
Andrew
SwiftSmith+Nephew
|
+44 (0)
1923 477433
|
Media
Charles
ReynoldsSmith+Nephew
|
+44 (0)
1923 477314
|
About Smith+Nephew
Smith+Nephew is a portfolio medical technology business focused on
the repair, regeneration and replacement of soft and hard tissue.
We exist to restore people's bodies and their self-belief by using
technology to take the limits off living. We call this purpose
'Life Unlimited'. Our 18,000 employees deliver this mission every
day, making a difference to patients' lives through the
excellence of our product portfolio, and the invention and
application of new technologies across our three global
franchises of Orthopaedics, Sports Medicine & ENT and Advanced
Wound Management.
Founded in Hull, UK, in 1856, we now operate in more than 100
countries, and generated annual sales of $5.2 billion in 2021.
Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN).
The terms 'Group' and 'Smith+Nephew' are used to refer to Smith
& Nephew plc and its consolidated subsidiaries, unless the
context requires otherwise.
For more information about Smith+Nephew, please visit
www.smith-nephew.com and
follow us on Twitter, LinkedIn,
Instagram or Facebook.
Forward-looking Statements
This document may contain forward-looking statements that may or
may not prove accurate. For example, statements regarding expected
revenue growth and trading margins, market trends and our product
pipeline are forward-looking statements. Phrases such as "aim",
"plan", "intend", "anticipate", "well-placed", "believe",
"estimate", "expect", "target", "consider" and similar expressions
are generally intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause actual
results to differ materially from what is expressed or implied by
the statements. For Smith+Nephew, these factors include: risks
related to the impact of COVID, such as the depth and longevity of
its impact, government actions and other restrictive measures taken
in response, material delays and cancellations of elective
procedures, reduced procedure capacity at medical facilities,
restricted access for sales representatives to medical facilities,
or our ability to execute business continuity plans as a result of
COVID; economic and financial conditions in the markets we serve,
especially those affecting healthcare providers, payers and
customers (including, without limitation, as a result of COVID);
price levels for established and innovative medical devices;
developments in medical technology; regulatory approvals,
reimbursement decisions or other government actions; product
defects or recalls or other problems with quality management
systems or failure to comply with related regulations; litigation
relating to patent or other claims; legal compliance risks and
related investigative, remedial or enforcement actions; disruption
to our supply chain or operations or those of our suppliers
(including, without limitation, as a result of COVID); competition
for qualified personnel; strategic actions, including acquisitions
and dispositions, our success in performing due diligence, valuing
and integrating acquired businesses; disruption that may result
from transactions or other changes we make in our business plans or
organisation to adapt to market developments; relationships with
healthcare professionals; reliance on information technology and
cyber security; and numerous other matters that affect us or our
markets, including those of a political, economic, business,
competitive or reputational nature. Please refer to the documents
that Smith+Nephew has filed with the U.S. Securities and Exchange
Commission under the U.S. Securities Exchange Act of 1934, as
amended, including Smith+Nephew's most recent annual report on Form
20-F, for a discussion of certain of these factors. Any
forward-looking statement is based on information available to
Smith+Nephew as of the date of the statement. All written or oral
forward-looking statements attributable to Smith+Nephew are
qualified by this caution. Smith+Nephew does not undertake any
obligation to update or revise any forward-looking statement to
reflect any change in circumstances or in Smith+Nephew's
expectations.
◊Trademark
of Smith+Nephew. Certain marks registered US Patent and Trademark
Office.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
Smith
& Nephew Plc
(Registrant)
Date: February
22, 2022
By: /s/
Susan Swabey
-----------------
Susan
Swabey
Company
Secretary
Smith and Nephew (PK) (USOTC:SNNUF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Smith and Nephew (PK) (USOTC:SNNUF)
Historical Stock Chart
From Jul 2023 to Jul 2024