British American Tobacco has signed an irrevocable agreement with UBS AG London Branch to repurchase some of its ordinary shares during its closed period from 30 June 2026 to 29 July 2026. A closed period is the time before results are released when a company is restricted from trading in its own shares. Under the deal, UBS will make the purchases independently of the company as part of British American Tobacco’s ongoing share buyback programme.
The company says all shares bought will be cancelled, which reduces the total number of shares in issue and therefore its share capital. The arrangement sits within the authority previously granted by shareholders and will be carried out in line with United Kingdom market rules. British American Tobacco is one of the largest companies on the Johannesburg Stock Exchange through its secondary listing, so changes to its share count and trading activity in London can echo in South African index weights and portfolio exposures.
For more detail, read the full announcement.