British American Tobacco plc has announced the purchase of its ordinary shares from Merrill Lynch International as part of its buyback program. The company purchased 659,996 ordinary shares at prices ranging from 2463.00p to 2493.00p per share, with a volume-weighted average price of 2476.8035p per share. Following the purchase and cancellation of these shares, the company will have 2,223,193,487 ordinary shares in issue (excluding treasury shares) and will hold 133,278,266 ordinary shares in treasury.

The information provided may be used by shareholders to determine whether they are required to notify their interest, or a change to their interest, in the company under the FCA's Disclosure Guidance and Transparency Rules. The company also provided a schedule of individual trades carried out by Merrill Lynch International on 16 May 2024, including the number of shares purchased, transaction prices, and the time of each transaction.

This announcement reflects the company's ongoing efforts to optimize its capital structure and return value to shareholders. The buyback program is a strategic move to enhance shareholder value and demonstrates the company's confidence in its long-term growth prospects.