We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Smiths Group Plc | LSE:SMIN | London | Ordinary Share | GB00B1WY2338 | ORD 37.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -5.00 | -0.31% | 1,603.00 | 1,598.00 | 1,599.00 | 1,614.00 | 1,594.00 | 1,594.00 | 692,904 | 16:35:08 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Srch,det,nav,guid,aero Sys | 3.04B | 231M | 0.6613 | 24.16 | 5.58B |
From Apr 2019 to Apr 2024
TIDMSMIN
RNS Number : 1325U
Smiths Group PLC
20 October 2017
News Release
London, 20 October 2017
For immediate release
Smiths Group extends pension de-risking with GBP207m buy-in
Smiths Group plc ("Smiths" or "the Company") announces today that the Trustee of the Smiths Industries Pension Scheme (the "Scheme") has entered into a bulk annuity buy-in agreement with Canada Life.
Demonstrating the Company's commitment to de-risking its pension liabilities, the buy-in policy covers liabilities totalling GBP207m relating to over 2,000 legacy Scheme pensioners and dependants. Through a series of buy-ins, around GBP0.5bn of the Smiths Industries Pension Scheme liabilities has now been insured. Across Smiths Group's two main UK schemes around GBP1.5bn of the liabilities has now been insured.
Bill Seeger, Chief Financial Officer, said:
"Our sustained focus, over many years, on de-risking the Company's pension liabilities has reduced volatility and has led to significantly lower funding obligations going forward - freeing up capital for Smiths to invest in growth opportunities. Over 95% of the Group's total pension liabilities are hedged through our liability driven investment strategy."
Nicholas Godden, Chair of the Smiths Industries Pension Scheme Trustee, said:
"This is the first buy-in we have completed with Canada Life as part of our long-term de-risking strategy. We have made considerable strides to completely de-risk the Scheme and this remains our long-term aim."
END
Contact details
Investor enquiries
Jemma Spalton, Smiths Group
+44 (0)20 7004 1637
+44 (0)78 6739 0350
jemma.spalton@smiths.com
Marion Le Bot, Smiths Group
+44 (0)20 7004 1672
+44 (0)75 8315 4386
marion.lebot@smiths.com
Media enquiries
Andrew Lorenz, FTI Consulting
+44 (0)20 3727 1323
+44 (0)77 7564 1807
smiths@fticonsulting.com
Deborah Scott, FTI Consulting
+44 (0)203 727 1459
+44 (0)797 953 7449
smiths@fticonsulting.com
About Smiths Group
Smiths Group is a global technology company listed on the London Stock Exchange (SMIN) and operates a sponsored level one ADR programme (SMGZY). A world leader in the practical application of advanced technologies, Smiths Group delivers products and services for the threat & contraband detection, medical devices, energy and communications markets worldwide. Smiths Group employs more than 22,000 people in over 50 countries. For more information visit www.smiths.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRQKLFFDBFBFBV
(END) Dow Jones Newswires
October 20, 2017 02:00 ET (06:00 GMT)
1 Year Smiths Chart |
1 Month Smiths Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
