Spectris PLC

Transaction in Own Shares • Aug 1, 2024

National Storage Mechanism | Additional information

RNS Number : 6823Y

Spectris PLC

01 August 2024

Share buyback programme

1 August 2024 - Spectris plc (SXS: LSE) ('Spectris' or 'the Group'), the expert in providing insight through precision measurement, announces that, in connection with the up to £150 million share buyback announced on 11 December 2023, 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'). A portion of the Ordinary Shares purchased under this tranche of the Programme will be held in Treasury to satisfy obligations arising from awards and options granted to employees under the Group's employee share plans, and the remainder will be cancelled.

The second tranche of the Programme will be carried out through an irrevocable non-discretionary agreement with Barclays Capital Securities Limited (together with its affiliates, 'Barclays'), pursuant to which Barclays 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 second tranche will run from 1 August 2024 and end no later than 31 December 2024 (subject to no regulatory objections or concerns arising), for an aggregate consideration of £50.0 million. The maximum number of Ordinary Shares that can be purchased under the second tranche of the Programme is 10,085,855 Ordinary Shares (based on authority granted at the Group's 2024 annual general meeting). Barclays will make its trading decisions in relation to the Ordinary Shares independently of, and uninfluenced by, the Group.   Barclays and its affiliates may undertake transactions in ordinary shares of Spectris (which may include sales and hedging activities, in addition to purchases which may take place on any available trading venue or on an over the counter basis) during the period of the Programme in order to manage Barclays' market exposure under the Programme. Disclosure of such transactions will not be made by Barclays as a result of or as part of the Programme, but Barclays will continue to make any disclosures it is otherwise legally required to make.

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 9 of the Financial Conduct Authority's UK 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 as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) and Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018 and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019). 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

Mathew Wootton

Director of Investor Relations

+44 75000 78880

​ Tulchan Communications

Martin Robinson

Giles Kernick

+44 20 7353 4200

About Spectris

Spectris combines precision with purpose, delivering progress for a more sustainable world. We provide critical insights to our customers through premium precision measurement solutions combined with technical expertise and deep domain knowledge. Precision is at the heart of what we do - our leading, high-tech instruments and software equip our customers to solve some of their greatest challenges to make the world cleaner, healthier and more productive. Our two, high quality divisions - Spectris Scientific and Spectris Dynamics - are placed in technology-driven end markets, with strong fundamentals and attractive growth trajectories. We have leading market positions in premium segments and employ 7,300 people located in more than 30 countries, all united behind our Purpose to deliver Value Beyond Measure for all our stakeholders. For more information, visit   www.spectris.com .

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