Cevian Capital Increases Stake in Smith & Nephew plc to 11.88%

On June 3, 2026, Cevian Capital II GP LTD filed Amendment No. 6 to its Schedule 13D, reporting an increased stake in Smith & Nephew plc (SNN). The reporting person now beneficially owns 101,046,788 ordinary shares, representing 11.88% of the company's outstanding shares. This is an increase from the 10.71% ownership (91,462,095 shares) reported in the previous filing. Between May 5, 2026, and June 2, 2026, Cevian Capital executed a series of open-market purchases totaling approximately 9,584,693 shares. The transactions were funded through general working capital of the Cevian Funds, with an aggregate consideration for the total position reaching approximately $1.416 billion. The purchase prices during this period ranged from roughly $14.61 to $15.58 per share (converted from British Pounds at a rate of $1.34725 per GBP 1.00). The calculations are based on 850,209,708 ordinary shares outstanding as of May 31, 2026. Cevian Capital continues to hold sole voting and dispositive power over the reported shares.