The shareholders of British American Tobacco plc (LSE:BATS) authorized a share repurchase program at its Annual General Meeting on April 25, 2013. Under the program, the company will repurchase up to 192,800,000 shares, representing approximately 10% of its issued capital. The minimum price which may be paid per ordinary share will be £0.25. The maximum price which may be paid for any ordinary share is an amount equal to 105% of the average of the middle-market prices ... shown in the quotation for an ordinary share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased. The shares will be repurchased in the open market. The shares repurchased will either be held in treasury or will be cancelled. The program will expire at the conclusion of the next Annual General Meeting, unless previously renewed, varied or revoked by the company in a general meeting. As of March 14, 2013, British American Tobacco has 1,928,202,700 shares in issue and 98,217,487 shares in treasury.
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British American Tobacco plc (LSE:BATS) acquired CN Creative Ltd. from its founders Chris Lord and David Newns on December 19, 2012. CN Creative achieved revenues of approximately £2 million in the 12 months ending September 2012. Neal Shepherd and Darren Harris of Addleshaw Goddard acted as the legal advisor for Chris Lord and David Newns.

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