REG - British Amer.Tobacco - Share Buyback Programme

British American TobaccoAnnouncement

Yesterday 15:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250627:nRSa8182Oa&default-theme=true

RNS Number : 8182O  British American Tobacco PLC  27 June 2025

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

 

27 June 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 an irrevocable,
non-discretionary agreement with UBS AG London Branch ("UBS") to purchase
ordinary shares of the Company ("Shares") during the closed period commencing
on 1 July 2025 and ending at the close of business on 30 July 2025, the day
prior to the release of its half year preliminary results.

As announced on 28 May 2025, the Company has extended the Programme by an
additional £200 million, taking the total amount to be repurchased by 31
December 2025 to £1.1 billion. The extension of the Programme is being funded
using the net proceeds of the block trade of 313,000,000 ordinary shares in
ITC Limited to institutional investors by way of an accelerated bookbuild
process, as announced on 28 May 2025.

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 2025 AGM, is
220,451,469 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 2025 AGM, 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 9.6 of the Financial
Conduct Authority's UK 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 | IR_team@bat.com (mailto:IR_team@bat.com)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSEFFDWEISEDM