- Director of British American Tobacco transfers substantial shares to closely associated person in notable transaction
- Transfer involves 20,678 ordinary shares with a value of £nil
- Transaction reflects potential strategic realignment in company’s shareholding structure
In a recent announcement, British American Tobacco p.l.c. (BATS) disclosed a significant transfer of shares from one of its directors to a person closely associated with them. The transaction was reported in a notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
The director involved in the share transfer is Paul Lageweg, who holds the position of Director of New Categories within the company. Lageweg transferred a substantial number of ordinary shares to Mrs. Phung Thi Kim Hong, who is identified as a person closely associated with him.
The transaction details are as follows:
Person Discharging Managerial Responsibilities / Person Closely Associated
- Name: Paul Lageweg
Reason for the Notification
- Position/Status: Director, New Categories
- Initial Notification
- Name: British American Tobacco p.l.c.
- LEI: 213800FKA5MF17RJKT63
- Description of the Financial Instrument: Ordinary shares of 25p each
- Identification Code: GB0002875804
- Nature of the Transaction: Transfer of shares to Mrs. Phung Thi Kim Hong, a Person Closely Associated
- Price(s) and Volume(s):
- Price(s): £nil
- Volume(s): 20,678 shares
- Aggregated Volume: 20,678 shares
- Price: £nil
Date of the Transaction: May 24, 2023 Place of the Transaction: Outside a trading venue
The recipient of the shares, Phung Thi Kim Hong, is identified as a person closely associated with Paul Lageweg, in line with the regulations governing the disclosure of transactions by persons discharging managerial responsibilities and their closely associated individuals.
This transfer of shares represents a notable transaction within British American Tobacco p.l.c. It signifies a change in ownership and potentially reflects the strategic realignment of the company’s shareholding structure. Such transactions by directors and persons closely associated with them often draw attention due to their potential impact on the company’s overall ownership and decision-making processes.