Smith & Nephew PLC 6-K, filed Aug 8, 2022
Smith & Nephew PLC (SNN)
6-K
2022-08-08
For: 2022-08-08
View Original
Added on
April 07, 2026
About this 6-K
Smith & Nephew PLC filed this 6-K on August 8, 2022.
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
August 8, 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.
8 August 2022
Share Buyback Programme
Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology
company, today provides the following update in relation
to the
share buy-back programme announced on 16 December 2021 (the
"Programme").
The purpose of the Programme is to reduce the issued share capital
of Smith+Nephew by returning surplus capital to
shareholders. The
Programme commenced on 22 February 2022 and, to date, US$125
million of the 2022 buy-back has been
completed.
In order to conclude the Programme to the level previously guided
for 2022, a further tranche of share repurchases will commence on 9
August 2022 and will end no later than 16 September
2022.
A maximum of 3,000,000 ordinary shares of nominal value US$0.20
each will be purchased under this tranche of the Programme each
through J.P. Morgan Securities plc acting as riskless principal.
The maximum pecuniary amount that will be purchased under this
tranche of the Programme is US$25m. Shares acquired by J.P. Morgan
will be subsequently repurchased by Smith+Nephew, held as treasury
shares and then either cancelled or allocated to employee share
awards as they fall due.
Any purchase of shares contemplated by this announcement will be
carried out on the London Stock Exchange. Smith+Nephew's
shareholders generally authorised it to purchase up to a maximum
of 87,987,599 ordinary
shares at its 2022 Annual General Meeting held
on 13
April 2022, subject to certain limitations (the "General
Authority"). That General Authority expires on 26 April 2023, the
date of the 2023 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.
Enquiries:
|
Investors
Andrew
Swift
Smith+Nephew
|
+44 (0)
1923 477433
|
|
Media
Charles
Reynolds
Smith+Nephew
|
+44 (0)
1923 477314
|
About Smith+Nephew
Smith+Nephew is a portfolio medical technology company that exists
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, Advanced Wound Management and Sports
Medicine & ENT. 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-19, 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-19; economic and financial conditions in the markets we
serve, especially those affecting health care providers, payers and
customers (including, without limitation, as a result of COVID-19);
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-19);
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; 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: August
8, 2022
By: /s/
Helen Barraclough
-----------------
Helen
Barraclough
Company
Secretary