REG - British Amer.Tobacco - Share Buyback Programme

British American TobaccoAnnouncement

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RNS Number : 3827B  British American Tobacco PLC  22 April 2026

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

 

22 April 2026

 

Share Buyback Programme

 

Further to the share buyback programme announcement on 18 March 2024 ("the
Programme"), and the subsequent extension of the Programme announced on 10
December 2025, the Company announces that it has entered into an agreement
with Merrill Lynch International ("Merrill Lynch") to purchase ordinary shares
of the Company ("Shares") during the period commencing on 23 April 2026 and
ending at the close of business on 29 June 2026.

Merrill Lynch 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.

In line with the recent change to UK Listing Rule 9.6.6 concerning the timing
of notifications of share repurchases, the Company will be moving from daily
announcements to a consolidated weekly announcement. The Company will publish
a RNS announcement each week setting out all share purchases executed on
trading days during the preceding week, presented in both aggregated and
detailed form consistent with the current disclosure content. For the
avoidance of doubt, the amendments to the UK Listing Rules relate solely to
the timing of announcements and do not affect the information required in such
announcements.

Any purchases of Shares by the Company in relation to this announcement will
be undertaken within certain pre-set parameters, and in accordance with the
Company's general authority to repurchase shares granted by its shareholders
from time to time (at the Company's 2026 AGM, shareholders granted the Company
authority to purchase a maximum of 217,492,219 Shares (the "Authority")), 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.

Pursuant to the Authority, 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)

 

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