1st Oct 2007 07:30
British American Tobacco PLC01 October 2007 Close Period Share Repurchase Programme British American Tobacco p.l.c. (the "Company") announces that it has commencedan irrevocable, non-discretionary programme to purchase shares on its own behalfduring its close period. The programme commences on 1 October 2007 and runs upto and including 31 October 2007. The shares repurchased will be put intotreasury, rather than being cancelled, so that they may be re-sold at a laterdate. Whilst the shares are held in treasury, no dividends will be paid on themand they will have no voting rights. The buy back programme will be managed by an independent third party, whichmakes its trading decisions in relation to the Company's securitiesindependently of, and uninfluenced by the Company. Any acquisitions will be effected within certain pre-set parameters, and inaccordance with both the Company's general authority to repurchase shares andChapter 12 of the Listing Rules which requires that the maximum price paid to belimited to no more than 105 per cent of the average middle market closing priceof the Company's shares for the 5 business days preceding the date of purchase. The Company confirms that it currently has no unpublished price sensitiveinformation. 1st October 2007 Enquiries: Investor RelationsRalph Edmondson/ 020 7845 1180Rachael Brierley 020 7845 1519 Press OfficeDavid Betteridge/ 020 7845 2888Kate Matrunola/Catherine Armstrong This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British American Tobacco