Share buyback programme

RNS Number : 1702V

Spectris PLC

08 August 2022

 

Share buyback programme

8 August 2022 - Spectris plc (SXS: LSE) ('Spectris' or 'the Group'), the expert in providing insight through precision measurement, announces that, in connection with the £300 million share buyback announced on 19 April 2022, it is commencing the second 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 second 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 second tranche will run from 8 August 2022 and end no later than 16 December 2022 (subject to no regulatory objections or concerns arising), for an aggregate consideration of up to, but no greater than, £50 million. The maximum number of Ordinary Shares that can be purchased under the second tranche of the Programme is 11,082,352 Ordinary Shares (based on authority granted at the Group's 2022 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 second 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

Siobhán Andrews

Head of Corporate Affairs
[phone] / [phone]

Tulchan Communications

Martin Robinson

Giles Kernick

[phone]

About Spectris

Spectris' global group of businesses are focused on delivering value beyond measure for all our stakeholders. We target global, attractive and sustainable markets, where growth and high returns are supported by long-term drivers. Precision is at the heart of what we do. We provide customers with expert insight through our advanced instruments and test equipment, augmented by the power of our software and services. This equips customers with the ability to reduce time to market, improve processes, quality and yield. In this way, Spectris know-how creates value for our wider society, as our customers design, develop, test and manufacture their products to make the world a cleaner, healthier and more productive place. Headquartered in London, United Kingdom, Spectris employs approximately 7,350 people located in more than 30 countries. For more information, visit www.spectris.com .

 

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