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British American Tobacco PLC (BATS.L)

BATS.L on London Stock Exchange

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7 Dec 2016
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Latest Key Developments (Source: Significant Developments)

British American Tobacco PLC - Members of US Congress call for investigation into tobacco giant - Independent
Saturday, 6 Feb 2016 10:08pm EST 

British American Tobacco PLC:Members of the US Congress have called for a Department of Justice investigation into tobacco giant British American Tobacco following allegations the company bribed officials and politicians in Africa to undermine UN health campaigns and put rival cigarette-makers out of business - Independent.How 'The IoS' broke the story about the bribery allegations in December.Eight congressmen – from both the Senate and the House of Representatives – have made a complaint about BAT, Britain's fifth biggest company, calling for an investigation into whether it has violated the US Foreign Corrupt Practices Act.The bribery allegations, first revealed by The Independent on Sunday and the BBC, are in a dossier of claims passed to the UK's Serious Fraud Office by Paul Hopkins, a BAT whistleblower who worked in Africa for BAT for 13 years.Experts described Mr Hopkins as the most significant whistleblower from the industry since Jeffrey Wigand, subject of the Oscar-nominated film The Insider, starring Russell Crowe.  Full Article

British American Tobacco PLC - Big Tobacco faces blow as top court adviser backs EU law - Reuters
Wednesday, 23 Dec 2015 02:00am EST 

British American Tobacco PLC:An adviser to Europe's highest court said an EU law on cigarettes was valid, rebuffing a challenge from Philip Morris International PM.N and British American Tobacco BATS.L, though the court still has to deliver a final ruling - RTRS.The opinion, if adopted by the court in Luxembourg, would be a blow to Big Tobacco companies, which had lobbied vigorously against what was seen as some of the world's strictest anti-tobacco legislation. - RTRS.In a majority of cases, opinions of the court advisers are reflected in the final ruling, which should follow in the coming months. - RTRS."(The advocate general) considers the EU tobacco directive of 2014 to be valid," the opinion published on Wednesday said. - RTRS."The EU legislature did not exceed the considerable latitude to be given to it in ensuring that tobacco and related products may be placed on the market under uniform conditions throughout the EU without losing sight of the fundamental objective of a high level of health protection." - RTRS.The EU Tobacco Products Directive (TPD) was adopted in May 2014 and comes into force next year. Key provisions include the standardisation of packaging, a prohibition by 2020 on menthol cigarettes and special rules for e-cigarettes. - RTRS.The TPD requires health warnings that include discouraging images to cover 65 percent of tobacco packages. - RTRS.  Full Article

British American Tobacco PLC paid union to disrupt production at one of its chief rivals, whistleblower claims - Independent
Saturday, 19 Dec 2015 10:10pm EST 

British American Tobacco PLC:British American Tobacco (BAT) recruited and paid for a union to disrupt production at one of its chief rivals, according to a whistleblower. The union plan was part of a strategy to drive Mastermind Tobacco, an African rival, out of business - Independent.The clandestine plot is revealed in internal BAT documents disclosed by whistleblower Paul Hopkins, who worked for the tobacco giant in Africa for 13 years. - Independent.The strategy also involved bribing Kenyan tax officials to disclose its rival's confidential tax dealings, paying company officials to disclose vital corporate secrets, and offering cash to port officials to "lose" or impound its rival's export shipments and supplies of raw materials - Independent.Under the scheme, BAT recruited "vocal employees from various departments such as marketing, leaf [tobacco], transport and factory" to be union reps. They were approached with "a handsome offer", the report said. - Independent.BAT budgeted 4.5 million Kenyan shillings (£30,000) for five union reps, it added. As the union reps might face violent opposition, the money "will be able to cater for risk including terminal benefits just in case", it said - Independent.The person recruited to organise the union was told the money was coming from an anti-tobacco campaign group. BAT also paid to officially register Mastermind workers with the Kenyan Commercial Food and Allied Workers Union - Independent.  Full Article

British American Tobacco PLC - Canada court orders tobacco companies to set aside almost C$1 bln - Reuters
Tuesday, 27 Oct 2015 08:44pm EDT 

British American Tobacco PLC:A Canadian appeal court on Tuesday ordered two major tobacco companies to set aside a combined C$984 million ($742 million) while they challenge billions of dollars in damages awarded to smokers in the province of Quebec - RTRS.The more than C$15 billion in damages awarded in June - RTRS.if upheld in an appeal of two class-action lawsuits, would compensate some 100,000 Quebec smokers and ex-smokers who allege the companies knew since the 1950s that their product was causing cancer and other illnesses and failed to warn consumers adequately - RTRS.Imperial Tobacco Canada Ltd - a subsidiary of British American Tobacco Plc BATS.L - must put aside C$758 million, and Rothmans, Benson & Hedges Inc - a subsidiary of Philip Morris International PM.N - must deposit C$226 million, the Quebec Court of Appeal said - RTRS.The court in July said that the two companies plus a third, Japan Tobacco Inc's JTI-Macdonald Corp, would not have to make preliminary deposits - RTRS.Launched in 1998, the class action was considered to be the largest civil case in Canadian history, marking the first time tobacco companies have gone to trial in a civil suit in the country - RTRS.The companies were ordered to set aside the deposits in six and seven quarterly payments stretching to mid-2017, while a hearing on the appeal is scheduled for the autumn of 2016 - RTRS.  Full Article

British American Tobacco PLC announces interim dividend
Wednesday, 29 Jul 2015 02:02am EDT 

British American Tobacco PLC:Says interim dividend of 49.4 pence, an increase of 4.0 percent will be paid on September 30.Record date August 21.  Full Article

British American Tobacco PLC announces acquisition
Monday, 1 Jun 2015 03:00am EDT 

British American Tobacco PLC:Has signed an agreement to acquire TDR d.o.o. and other tobacco and retail assets (TDR) from Adris Grupa d.d. (Adris) for total enterprise value of 550 mln Euros.By combining its existing business in region together with TDR, BAT expects to benefit from highly skilled people, well established brands, enhanced regional leaf processing capabilities.And local high quality factory and print facility and strong relationships with distributors and retailers in these markets.As part of transaction BAT has committed to keeping TDR's manufacturing facility in Kanfanar, Croatia operational for at least five years following completion of acquisition.  Full Article

British American Tobacco announces change in auditors
Tuesday, 24 Mar 2015 03:00am EDT 

British American Tobacco Plc:Says KPMG LLP has been appointed as its new external auditors for 2015 onwards.PricewaterhouseCoopers LLP who had been the company's auditors since Sept. 1998, resigned with effect from March 23.  Full Article

British American Tobacco declares interim dividend
Thursday, 26 Feb 2015 02:03am EST 

British American Tobacco PLC:Declared an interim dividend of 100.06 pence per ordinary share of 25 pence for year ended ended December 31, 2014.Interim dividend will be payable on May 7 to shareholders registered on either UK main register or South Africa branch register on March 20.  Full Article

British American Tobacco PLC confirms possible offer for Souza Cruz minorities
Monday, 23 Feb 2015 07:10am EST 

British American Tobacco PLC:Says following on from the recent announcement by Souza Cruz.Says the company confirms that it is evaluating a possible public tender offer to acquire up to all of the 24.7 pct of Souza Cruz shares which are not currently owned by BAT and to delist the company.Says any offer for Souza Cruz's shares would be at a price per share of 26.75 Brazilian Rea, to be paid in cash, in Brazilian Reais, and to be reduced by any dividend paid by Souza Cruz.  Full Article

British American Tobacco PLC's subsidiary reaches agreement
Friday, 19 Dec 2014 02:00am EST 

British American Tobacco PLC:Says subsidiary, Imperial Tobacco Canada Ltd (Imperial Tobacco), reaches agreement in principle to settle legacy litigation with the Flintkote Company for $575 mln.Says Imperial Tobacco has reached an agreement in principle with The Flintkote Company for a total of $575 mln for claims related to certain disputed dividends and existing and potential asbestos claims.Says the agreement in principle of the dividend claims and the asbestos related liabilities, brings this long running litigation to an end.Says under the terms of the proposed settlement, Imperial Tobacco will obtain protection from current and potential future Flintkote related asbestos liability claims in the United States.Says the settlement agreement now provides closure on a legacy file, allowing Imperial Tobacco to focus on its current business by finally and completely resolving the existing Flintkote litigation and obtaining protections from potential future litigation related to Flintkote.  Full Article

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Philip Morris looks beyond cigarettes with alternative products

LONDON Philip Morris International , the world's largest international tobacco company, said it could eventually stub out cigarette sales as it launched an alternative product in Britain on Wednesday.