1st Oct 2008 07:00
Close Period Share Repurchase Programme
British American Tobacco p.l.c. (the "Company") announces that it has commenced an irrevocable, non-discretionary programme to purchase shares on its own behalf during its close period. The programme commences on 1 October 2008 and runs up to and including 29 October 2008. The shares repurchased will be put into treasury, rather than being cancelled, so that they may be re-sold at a later date. 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 paid to be limited to no more than 105 per cent of the average middle market closing price of the Company's shares for the 5 business days preceding the date of purchase.
The Company confirms that it currently has no unpublished price sensitive information.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
020 7845 1925
1 October 2008
Further enquiries:
British American Tobacco Press Office
David Betteridge / Kate Matrunola / Cat Armstrong
+ (44) 0 20 7845 2888 (24 hours)
Investor Relations
Ralph Edmondson
+44 (0) 20 7845 1180
Related Shares:
British American Tobacco