British American Tobacco PLC (BAT) has repurchased 74,186 ordinary shares at an average price of 2,999.38 pence per share from Merrill Lynch International. This repurchase forms part of the Company's ongoing buyback program, as announced on 28 November.
The transaction, initially announced on 18 March 2024 and authorized by shareholders at the Company's Annual General Meeting on 24 April 2024, was completed on 27 November 2024.
Key details of the transaction are as follows:
- Date of purchase: 27 November 2024
- Number of shares repurchased: 74,186
- Highest price paid per share: 3,010.00 pence
- Lowest price paid per share: 2,978.00 pence
- Volume weighted average price paid per share: 2,999.38 pence
After the purchase and cancellation, BAT's total number of ordinary shares in issue (excluding treasury shares) will be 2,210,937,032.
This reduction in shares is part of a strategic decision designed to enhance shareholder value by potentially increasing earnings per share.
Additionally, shareholders may need to assess whether they are required to notify any changes to their interest in the company, in accordance with the FCA's Disclosure Guidance and Transparency Rules.
