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Company British American Tobacco PLC
TIDM BATS
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Transaction in Own Shares

Released 07:00 02-Apr-2013
Number 1494B07

RNS Number : 1494B
British American Tobacco PLC
02 April 2013
 

 

British American Tobacco p.l.c.

Close Period Share Repurchase Programme

 

British American Tobacco p.l.c. (the "Company") announces that it will commence an irrevocable, non-discretionary programme to purchase shares on its own behalf during the period commencing on 3 April 2013 up to and including 24 April 2013, therefore running through its close period which commences on 2 April 2013 and ends on 24 April 2013.  The shares repurchased will be put into treasury, rather than being cancelled.  Whilst the shares are held in treasury, no dividends will be paid on them and they will have no voting rights.

 

The buy-back programme will be managed by an independent third party, which makes its trading decisions in relation to the Company's securities independently of, and uninfluenced by, the Company.

 

Any acquisitions will be effected within certain pre-set parameters, and in accordance with both the Company's general authority to repurchase shares and Chapter 12 of the Listing Rules which requires that the maximum price is an amount equal to 105 per cent of the average market value of the Company's shares for the five business days immediately preceding the date on which the Company's shares are purchased.

 

The Company confirms that it currently has no unpublished price sensitive information.

Name of duly authorised officer of issuer responsible for making notification: 

 

G C W Cunnington

Deputy Secretary

British American Tobacco p.l.c.

 

2 April 2013

 

Enquiries:

 

British American Tobacco Press Office

Kate Matrunola/Jem Maidment/Will Hill            

+44 (0) 20 7845 2888

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Transaction in Own Shares - RNS