IMI plc (LSE: IMI), the specialist engineering group, has announced the purchase of 275,202 of its own ordinary shares on 4 November 2026 as part of its ongoing buyback programme. The shares were acquired through Deutsche Bank AG, London Branch, trading as Deutsche Numis, at a volume weighted average price of 2,875.3176 pence per share, and are to be cancelled rather than held in treasury. The transaction reduces the company's total voting rights to 235,048,972, a figure investors and index trackers will use as the reference denominator for shareholding calculations going forward.

Key Points

  • IMI plc (LSE: IMI), specialist engineering group listed on the London Stock Exchange
  • 275,202 ordinary shares purchased on 4 November 2026 and designated for cancellation
  • Volume weighted average price of 2,875.3176p; highest price paid was 2,908.00p, lowest was 2,854.00p
  • Investors should monitor further buyback announcements and the resulting reduction in total voting rights

IMI Cancels 275,202 Shares Through Deutsche Numis Across Four Trading Venues

The announcement states that IMI executed the buyback across four venues on 4 November 2026: the London Stock Exchange, Turquoise, Chi-X, and BATS. The largest tranche by volume, 130,000 shares, was traded on the London Stock Exchange at a weighted average price of 2,875.1837 pence. A further 102,202 shares were purchased on BATS at 2,874.9977 pence, 33,000 on Chi-X at 2,876.5344 pence, and 10,000 on Turquoise at 2,876.3142 pence. The multi-venue execution is consistent with standard market practice for buyback programmes of this size, designed to minimise market impact when acquiring shares in the open market.

IMI's Total Shares in Issue and Voting Rights After Settlement

Following settlement and cancellation of the purchased shares, the announcement states that IMI's total number of ordinary shares in issue will stand at 246,697,808. The company separately holds 11,648,836 ordinary shares in treasury, which carry no voting rights. As a result, the total number of voting rights in the company will be 235,048,972. This voting rights figure is the reference number that shareholders, institutional investors, and regulatory filings must use when calculating percentage interests and notification thresholds under UK disclosure rules.

Buyback Conducted Under UK Market Abuse Regulation Article 5 Safe Harbour

The disclosure was made in accordance with Article 5(1)(b) of the Market Abuse Regulation as retained in UK law, which provides a safe harbour for companies executing share buybacks within defined parameters covering price, volume, and timing. IMI appointed Deutsche Numis as sole broker to execute the programme, a common arrangement that places responsibility for individual trade execution with the intermediary. The detailed per-trade breakdown published in the announcement covers transaction prices ranging from 2,854p to 2,908p across the trading day, with individual lot sizes varying from single-digit share counts to blocks of 30,000 shares.

What the IMI Buyback Programme Means for Shareholders

Cancellation of purchased shares reduces the total share count in issue, which mechanically increases the proportionate ownership of remaining shareholders and can support earnings-per-share metrics over time. IMI is a precision engineering business serving energy, industrial automation, and life science markets globally. Investors may be watching the pace and scale of the buyback programme for signals about management's view of balance sheet flexibility and capital allocation priorities. The company did not disclose the total size or remaining authority of the buyback programme in this announcement.