IMI Regulatory News (IMI)

26 April 2021

IMI plc

LEI: 2138002W9Q21PF751R30

Share repurchase programme

IMI plc (the Company) announces that, in connection with the 12 month share buyback programme of up to £200 million which it announced on 26 April 2021, it is commencing a share buyback programme (the Programme) to purchase shares with a value of up to £100 million subject to remaining within the AGM authority (the 2020 AGM authority is for a maximum of 27,200,000 shares) during the period starting on 26 April 2021 and ending no later than 4 August 2021 (the Engagement Period) in order to reduce the capital of the Company. Shares purchased pursuant to the Programme will be cancelled. The Company has entered into an agreement with J.P. Morgan Securities plc (JPMS plc) under which it has issued an irrevocable instruction to JPMS plc to manage the share buyback programme. JPMS plc will carry out the instruction through the acquisition of ordinary shares in the Company for subsequent repurchase by the Company. This arrangement is in accordance with Chapter 12 of the FCA's Listing Rules and the Company's general authority to repurchase shares. The Programme will also be effected within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (in each case, as in force in the UK from time to time as retained EU law (as defined in the European Union (Withdrawal) Act 2018 as amended from time to time), including where relevant pursuant to the Market Abuse (Amendment)(EU Exit) Regulations 2019). JPMS plc may undertake transactions in shares (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 Engagement Period in order to manage its market exposure under the Programme. Disclosure of such transactions will not be made by JPMS plc as a result of or as part of the Programme, but JPMS plc will continue to make any disclosures it is otherwise legally required to make.

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