REG - British Amer.Tobacco - Share Buyback Programme

British American TobaccoAnnouncement

13/02/2025 07:15

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RNS Number : 9211W  British American Tobacco PLC  13 February 2025

British American Tobacco p.l.c. (the "Company")

 

13 February 2025

 

Share Buyback Programme

 

Further to the share buyback programme announcement on 18 March 2024 ("the
Programme"), the Company announces that it has entered into a
non-discretionary agreement with UBS AG London Branch ("UBS") to purchase
ordinary shares of the Company ("Shares") during the period commencing on 13
February 2025 and ending at the close of business on 30 April 2025 (the
"Purchase Period").

UBS will make its trading decisions in relation to the Company's Shares
independently of, and uninfluenced by, the Company.

The purpose of the Programme is to reduce the share capital of the Company.
The Shares repurchased will be cancelled.  The maximum number of Shares
permitted to be purchased by the Company under the Programme, pursuant to the
authority granted by its shareholders at the Company's 2024 AGM, is
223,642,156 Shares (less the number of Shares subsequently purchased by the
Company under the Programme since that authority was granted).

Any purchases of Shares by the Company in relation to this announcement will
be undertaken within certain pre-set parameters, and in accordance with both
the Company's general authority to repurchase shares granted by its
shareholders at the Company's 2024 AGM, or by any subsequent authorisation
conferred by the Company's shareholders at a general meeting of the Company
held during the Purchase Period, the Market Abuse Regulation 596/2014 and the
Commission Delegated Regulation (2016/1052), in each case as such legislation
forms part of domestic law by virtue of section 3 of the European Union
(Withdrawal) Act 2018 (as amended) and Chapter 12 of the Financial Conduct
Authority's Listing Rules.

The maximum price which may be paid for a Share is an amount (exclusive of
taxes and expenses) equal to the higher of:

-     105 per cent of the average market value of a Share as derived from
the LSE's Daily Official List for the five business days immediately preceding
the day on which the Share is purchased, in accordance with Listing Rule 9.6.1
of the Listing Rules published pursuant to Part 6 of the Financial Services
and Markets Act 2000 ("FSMA") (the "Listing Rules"); and

-    the higher of (i) the price of the last independent trade and (ii)
the highest current independent purchase bid on the trading venue where the
purchase is carried out, including when the shares are traded on different
trading venues, in accordance with Article 3(2) of the UK Safe Harbour
Regulation.

Enquiries:

 

Investor Relations

Victoria Buxton: +44 (0)20 7845 2012 | IR_team@bat.com
(mailto:IR_team@bat.com)

 

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