REG - British Amer.Tobacco - Response to Recent Speculation

British American TobaccoAnnouncement

27/05/2025 13:45

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RNS Number : 2692K  British American Tobacco PLC  27 May 2025

 

This announcement contains inside information

For immediate release

27 May 2025

British American Tobacco p.l.c.

Response to Recent Speculation

British American Tobacco p.l.c. (BAT) notes the recent speculation relating to
a potential disposal of part of its shareholding in ITC Limited (ITC). BAT
confirms that it is evaluating a possible disposal of a small part of BAT's
shareholding in ITC by means of an on-market trade. There can be no certainty
that any such transaction will proceed, nor can there be any certainty as to
the terms of any potential transaction. A further announcement will be made if
and when appropriate.

This announcement is being made on behalf of British American Tobacco p.l.c.
by Caroline Ferland, Company Secretary.

ENQUIRIES

 

 Press Office                                  Investor Relations

 +44 (0) 20 7845 2888 (24 hours) | @BATPress   Victoria Buxton

                                               IR_team@bat.com (mailto:IR_team@bat.com)

NOTES TO EDITORS

Further information

This announcement contains inside information in relation to British American
Tobacco p.l.c. for the purposes of Article 7 of the Market Abuse Regulation.

The securities referred to herein will not be, and have not been, registered
under the United States Securities Act of 1933, as amended (the "Securities
Act") and may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements of the
Securities Act.

About BAT

BAT is a leading global multi-category consumer goods business. Underpinned by
world-leading science and R&D, our purpose is to create A Better
Tomorrow™ by Building a Smokeless World where, ultimately, cigarettes have
become a thing of the past. BAT's purpose is backed by Omni™, an
evidence-based manifesto for change which captures its commitment and
progress.

BAT employs more than 48,000 people and, in 2024, generated revenue of
£25.9bn, with an adjusted profit from operations of £11.9bn.

BAT's aim is to have 50 million adult consumers of its Smokeless products by
2030 and generate 50% of its revenue from Smokeless products by 2035. BAT's
portfolio is made up of a growing range of nicotine and smokeless tobacco
products which include its Vapour brand Vuse; Heated Product brand glo; and
Velo, its Modern Oral (nicotine pouch) brand. After only a decade of
investment in these products, the Group has delivered New Category revenue of
£3.4bn in 2024, with strong progress in profitability. BAT's portfolio
reflects our commitment to meeting the evolving and varied preferences of
today's adult consumers.

BAT is also reducing the use of natural resources, improving livelihoods, and
delivering on its climate goals to be Net Zero across its value chain by 2050.
BAT received a Triple A rating from CDP in 2024 for its disclosures on Climate
Change, Water Security, and Forests, showcasing its commitment to
environmental transparency and action.

Forward-looking statements

This release contains certain forward-looking statements, including
"forward-looking" statements made within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These statements are often, but not
always, made through the use of words or phrases such as "believe,"
"anticipate," "could," "may," "would," "should," "intend," "plan,"
"potential," "predict," "will," "expect," "estimate," "project," "positioned,"
"strategy," "outlook", "target" and similar expressions. These include
statements regarding our customer target ambition, New Categories revenue
targets and our ESG targets.

All such forward-looking statements involve estimates and assumptions that are
subject to risks, uncertainties and other factors. It is believed that the
expectations reflected in this release are reasonable but they may be affected
by a wide range of variables that could cause actual results to differ
materially from those currently anticipated. A review of the reasons why
actual results and developments may differ materially from the expectations
disclosed or implied within forward-looking statements can be found by
referring to the information contained under the headings "Cautionary
Statement" and "Group Principal Risks " in the 2024 Annual Report and Form
20-F of British American Tobacco p.l.c. (BAT).

Additional information concerning these and other factors can be found in
BAT's filings with the U.S. Securities and Exchange Commission ("SEC"),
including the Annual Report on Form 20-F and Current Reports on Form 6-K,
which may be obtained free of charge at the SEC's website, http://www.sec.gov
(http://www.sec.gov) and BAT's Annual Reports, which may be obtained free of
charge from the BAT website www.bat.com (http://www.bat.com/) .

Past performance is no guide to future performance and persons needing advice
should consult an independent financial adviser. The forward-looking
statements reflect knowledge and information available at the date of
preparation of this release and BAT undertakes no obligation to update or
revise these forward-looking statements, whether as a result of new
information, future events or otherwise. Readers are cautioned not to place
undue reliance on such forward-looking statements.

 

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