Transaction in Own Shares

RNS Number : 1520H

Spectris PLC

02 August 2021

 

Share buyback programme

2 August 2021 - Spectris plc (SXS: LSE) (the 'Group'), the expert in providing insight through precision measurement, announces that it is commencing the third tranche of the share repurchase programme of the Group's ordinary shares of 5 pence each (the 'Ordinary Shares') for a maximum consideration of up to £200 million announced in its 2020 full year results on 25 February 2021 (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 third tranche of the Programme will be carried out through an irrevocable non-discretionary agreement with Jefferies International Limited ('Jefferies'), pursuant to which Jefferies shall purchase Ordinary Shares as riskless principal (and not as agent of Spectris plc) for the subsequent sale on to, and purchase by, Spectris plc. This third tranche will run from 2 August 2021 and end no later than 31 October 2021, 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 third tranche of the Programme is 10,101,930 Ordinary Shares (based on authority granted at the Group's 2021 annual general meeting). Jefferies 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 third 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.

 

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