BAT: £1.6 billion share buyback program

(CercleFinance.com) - BAT today launched its ordinary share buyback program using the proceeds from the sale of 436851457 ordinary shares in ITC Limited.


The final net proceeds received by the BAT Group amounted to £1.57 billion and the program will buy back £1.60 billion of BAT's ordinary shares starting with £700 million in 2024 and the remaining £900 million in 2025.

The program will commence on March 18, 2024 and end no later than December 31, 2025.

The purpose of the program is to reduce the company's issued share capital, and the shares purchased will be cancelled.

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