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IN BRIEF: British American Tobacco agrees to buy back shares from UBS

24th Jun 2024 12:38

British American Tobacco PLC - London-based cigarette and vaping products maker - Enters into an "irrevocable, non-discretionary" agreement to buys back shares from UBS AG from Monday to July 24. Says the purpose of this repurchase plan is to reduce its share capital and notes that the shares repurchased will be cancelled. BAT does not indicate how many shares it will buy back from UBS. Separately, BAT says it bought back 31,233 shares at average 2,468.96 pence on Friday last week.

BAT has said it plans to buy back shares worth GBP700 million for 2024, and this will be followed by a GBP900 million buyback in 2025.

Current stock price in London: 2,525.00 pence, up 1.55 on Monday

12-month change: down 3.7%

Current stock price in Johannesburg: ZAR579.72, up 2.8%

12-month change: down 7.5%

By Artwell Dlamini, Alliance News reporter

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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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