IMI plc, the specialist engineering group listed in London, has announced the purchase of 240,000 of its own ordinary shares on 12 November 2026 as part of its ongoing share buyback programme. The shares were acquired through Deutsche Bank AG, London Branch, trading as Deutsche Numis, at a volume weighted average price of 2,943.6611 pence per share. All purchased shares will be cancelled, reducing the total number of voting rights in the company. The disclosure was made in accordance with UK Market Abuse Regulation requirements.

Key Points

  • IMI plc (IMI), specialist engineering group listed on the London Stock Exchange
  • 240,000 ordinary shares purchased on 12 November 2026 via Deutsche Numis for cancellation
  • Volume weighted average price of 2,943.6611p; highest price paid was 2,958.00p, lowest was 2,926.00p
  • Investors may watch for further buyback tranches and any update to total shares in issue

IMI plc Cancels 240,000 Ordinary Shares Under Ongoing Buyback Programme

IMI plc confirmed it purchased 240,000 ordinary shares on 12 November 2026, with all acquired shares earmarked for cancellation rather than being held in treasury. Following settlement and cancellation, the company's total number of ordinary shares in issue will stand at 245,198,402. IMI currently holds 11,648,836 shares in treasury, meaning the total number of voting rights in the company will fall to 233,549,566. The cancellation of purchased shares is a common mechanism used by listed companies to return capital to shareholders by reducing the overall share count, which can enhance earnings per share metrics over time.

Trades Spread Across London Stock Exchange, Turquoise, Chi-X and BATS on 12 November

The 240,000 shares were purchased across four trading venues during the session. According to the announcement, 124,100 shares were acquired on the London Stock Exchange at a weighted average price of 2,943.5267p, while 70,000 shares were bought on BATS at 2,943.4699p per share. A further 35,000 shares were transacted on Chi-X at 2,944.4411p, and 10,900 shares were purchased on Turquoise at 2,943.9138p. Individual trade sizes varied considerably throughout the day, with one single transaction of 45,000 shares executed on the London Stock Exchange at 2,930.00p at 15:28.

Deutsche Numis Acts as Broker for IMI's Share Cancellation Programme

Deutsche Bank AG, London Branch, operating under its Deutsche Numis trading name, acted as broker for the transactions on behalf of IMI plc. The buyback programme is being conducted under Article 5(1)(b) of the Market Abuse Regulation as incorporated into UK law, which provides a safe harbour for companies repurchasing their own shares under defined conditions. IMI plc is required to publish a full breakdown of individual trades executed under such programmes, and the announcement fulfils that regulatory obligation. Investors may be watching the pace and scale of buyback activity as an indicator of management's confidence in the company's financial position and capital allocation priorities.