British American Tobacco (BAT) has announced that several executives and persons closely associated with them have purchased ordinary shares in the company. Tadeu Marroco, Chief Executive of BAT, purchased 7 ordinary shares at a price of £23.08955 per share. Luciano Comin, Marketing Director, Combustibles & New Categories, purchased 6 ordinary shares at the same price. James Barrett, Director of Business Development, also purchased 7 ordinary shares at £23.08955 per share. Jerome Abelman, Director of Legal Affairs and General Counsel, and Paul McCrory, Director of Corporate and Regulatory Affairs, both purchased 7 ordinary shares at the same price. The transactions were conducted on 6 December 2023 on the London Stock Exchange.

The purchases were made under the Partnership Share Scheme, which is a HMRC approved Share Incentive Plan. The scheme allows employees to purchase shares in the company, with the company matching the number of shares purchased by the employee. The purchases by the executives indicate their confidence in the company and its future prospects.

BAT is a multinational tobacco company that operates in over 180 countries. The company is known for its portfolio of brands, including Dunhill, Lucky Strike, and Pall Mall. BAT has been focusing on expanding its presence in the reduced-risk products category, such as e-cigarettes and heated tobacco products, in response to changing consumer preferences and regulatory developments. The company has been investing in research and development to develop innovative products in this category.

BAT has been facing challenges in recent years due to declining cigarette volumes and increasing regulatory scrutiny. However, the company has been adapting to these challenges by diversifying its product portfolio and investing in new technologies. The purchases by the executives indicate their belief in the company's ability to navigate these challenges and deliver long-term value to shareholders.