FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of
1934
August 19, 2003
Commission File Number 001-14978
SMITH & NEPHEW plc
(Registrant's name)
15 Adam Street
London, England WC2N 6LA
(Address of registrant's principal executive offices)
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]
Form 20-F X Form 40-F
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[Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1).]
Yes No X
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[Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7).]
Yes No X
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[Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing information to the
Commission pursuant to Rule 12g3-2 (b) under the Securities Exchange Act of
1934.]
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2 (b) : 82- n/a.
Total Pages: 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Smith & Nephew plc
(Registrant)
Date: August 19, 2003 By: /s/ Paul Chambers
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Paul Chambers
Company Secretary
2
Smith & Nephew plc T 44 (0) 207 401 7476 [COMPANY LOGO] We are Smith & Nephew
15 Adam Street F 44 (0) 207 960 2350
London WC2N 6LA www.smith-nephew.com
England
18 August 2003
DISPOSAL OF 21 1/2% INTEREST IN ABILITY ONE
Smith & Nephew, the global advanced medical devices company, announces that it
has agreed to sell its 21 1/2% interest in AbilityOne Corporation for
GBP 49m in cash.
Smith & Nephew retained a 21 1/2% interest in AbilityOne on the disposal of
its Rehabilitation business in March 2002. This is now being acquired as part
of the acquisition of AbilityOne by Patterson Dental Inc.
Completion is expected in September. The net proceeds will be used to reduce
net debt. The exceptional gain on the disposal will be GBP 29m before tax.
Sir Christopher O'Donnell, Chief Executive of Smith & Nephew said "This
transaction completes our exit from our Rehabilitation business on a
favourable basis."
Enquiries:
Smith & Nephew
Angie Craig Tel: +44 (0)20 7401 7646
Corporate Affairs Director
Financial Dynamics
David Yates Tel: +44 (0)20 7831 3113
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