British American Tobacco

[Bouleversee]

According to an article in The Times today, ("Tobacco boss pledges company shares for personal loan"), Jack Bowles, the CEO, has pledged 213,279 of his shares in BATS worth almost £6m as security for a personal loan, which the company says is compliant with corporate governance and shareholding requirements

The imagination boggles, especially when it goes on to say that he was given a 9.5% salary increase in April to almost £1.3m and his pay package was £5.1m in 2019. Wass he borrowing to add to his 475,807 holding (including unvested performance related awards) or to buy some elsewhere where he thinks the prospects are better? Or has he just got his eye on a yacht or private jet? Can anyone shed any light? I had studiously avoided tobacco shares for ethical reasons but inherited some BATS from my husband and having seen how well my daughter's IMB shares had done, decided to have a flutter in them as well, just before they went into reverse. With so much respiratory illness and threat of it around, I can't see either of them rocketing in the near future.

[Dod101]

According to an article in The Times today, ("Tobacco boss pledges company shares for personal loan"), Jack Bowles, the CEO, has pledged 213,279 of his shares in BATS worth almost £6m as security for a personal loan, which the company says is compliant with corporate governance and shareholding requirements

The imagination boggles, especially when it goes on to say that he was given a 9.5% salary increase in April to almost £1.3m and his pay package was £5.1m in 2019. Wass he borrowing to add to his 475,807 holding (including unvested performance related awards) or to buy some elsewhere where he thinks the prospects are better? Or has he just got his eye on a yacht or private jet? Can anyone shed any light? I had studiously avoided tobacco shares for ethical reasons but inherited some BATS from my husband and having seen how well my daughter's IMB shares had done, decided to have a flutter in them as well, just before they went into reverse. With so much respiratory illness and threat of it around, I can't see either of them rocketing in the near future.

I noticed that as well but really I do not think it will make a lot of difference to the value of holding in BATs so I decided just to ignore it. I will probably sell my Imperial Brands if they get to a level I am happy with (not sure what that is though!). I will keep BAT I think.

Dod