Smith & Nephew Plc Transaction in Own Shares (7569D)
February 21 2020 - 5:48AM
UK Regulatory
TIDMSN.
RNS Number : 7569D
Smith & Nephew Plc
21 February 2020
21 February 2020
Commencement of Quarterly Buy Back Programme
Smith & Nephew plc (the "Company") will now commence its
Quarterly Buy Back Programme of 649,529 of its ordinary shares of
US 20c each (the "Buy Back Programme") and has entered into an
agreement with Merrill Lynch International ('MLI') under which it
has issued an irrevocable instruction to MLI to manage the Buy Back
Programme.
The Company intends to hold these shares in Treasury and then
cancel them.
These shares were used in connection with employee share schemes
in Quarter 4 2019.
The purpose of this Buy Back Programme is to reduce the share
capital of the Company, in order to keep it broadly constant. The
maximum pecuniary amount allocated to the Buy Back Programme is
GBP14,000,000 and the maximum number of shares that will be
purchased under the Buy Back Programme is 649,529. The Buy Back
Programme will commence on 24 February 2020 and will end no later
than 27 February 2020.
This announcement is made in accordance with Chapter 12 of the
UKLA Listing Rules and Market Abuse Regulation 596/2014.
Vickie Reuben
Deputy Company Secretary
Smith & Nephew plc
Tel: 01923 477410
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END
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