United Kingdom

Smith & Nephew PLC (SNN.N)

SNN.N on New York Stock Exchange

21 Jul 2017
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Latest Key Developments (Source: Significant Developments)

Smith & Nephew starts share buyback after gynaecology divestment completes
Monday, 8 Aug 2016 

Smith & Nephew Plc : Smith & nephew completes gynaecology sale and commences $300 million share buy-back programme . Completion of sale and commencement of buy-back . Smith & nephew completes gynaecology sale and commences $300 million share buy-back programme . Completed divestiture of its gynaecology business to medtronic plc (nyse:mdt) for $350 million. .Maximum pecuniary amount allocated to buy-back programme is $300 million and maximum number of shares that will be purchased is estimated to be 18.3 million.  Full Article

Smith & Nephew says CFO Julie Brown to leave for Burberry
Monday, 11 Jul 2016 

Smith & Nephew Plc : Julie Brown, chief financial officer, will be leaving company in Jan. 2017 to join Burberry as chief operating and financial officer .Search for a successor to Julie is underway, and a further announcement will be made in due course.  Full Article

Burberry names Smith & Nephew's Julie Brown as new CFO
Monday, 11 Jul 2016 

Burberry Group Plc : Julie Brown appointed as new chief operating & financial officer . Reporting to chief executive officer, Julie Brown will join business and board in early 2017 . Julie is currently chief financial officer at global medical technology business Smith And Nephew Plc .Says Julie qualified with KPMG before working at ICI and AstraZeneca Plc.  Full Article

Smith & Nephew sells gynaecology unit to Medtronic
Wednesday, 18 May 2016 

Smith & Nephew Plc : Divestment and share buy-back . Signed a definitive agreement to divest its gynaecology business to Medtronic Plc (NYSE:MDT) for $350 million. . Gynaecology delivered revenue of $56 million in 2015, representing a little over 1% of group revenue. . Transaction is expected to be broadly neutral to adjusted earnings ('EPSA') in 2017, after share buy-back, . Share buy back is expected to commence shortly after completion in July 2016 . Proceeds will be returned to shareholders through a $300 million share buy-back programme. . Gross proceeds are before tax and costs. . Is expected that majority of gynaecology employees will join Medtronic . Davis Polk & Wardwell Llp served as counsel to Smith & Nephew and Ondra Partners acted as financial advisor. .Divestment and share buy-back.  Full Article

Smith & Nephew Plc acquires first-line cartilage repair product
Tuesday, 12 Jan 2016 

Smith & Nephew Plc:Acquires first-line cartilage repair product.Terms of the transaction were not disclosed.  Full Article

Smith & Nephew plc completes acquisition of Blue Belt Holdings Inc
Tuesday, 5 Jan 2016 

Smith & Nephew plc:Says it has completed the acquisition of Blue Belt Holdings, Inc.  Full Article

Smith & Nephew plc acquires Blue Belt Technologies
Thursday, 29 Oct 2015 

Smith & Nephew plc:Says that it has agreed to acquire Blue Belt Holdings, Inc. for $275 million.  Full Article

UPDATE 1-Nearly a third of Burberry investors object to top executives' pay

LONDON, July 13 Nearly a third of shareholders in Burberry voted against the luxury goods company's executive pay report on Thursday, despite a move by its new finance chief Julie Brown to head off the opposition by foregoing a share options award worth up to 2.4 million pounds ($3.11 million).