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British American Tobacco (BATS)

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idpickering
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Re: British American Tobacco (BATS)

#304344

Postby idpickering » April 30th, 2020, 7:46 am

AGM Statement

Since the publication of our Annual Report and Accounts last month, the situation relating to COVID-19 has developed significantly and, as a result, I am unable to address our AGM in person this year.

Our primary focus remains the health and well-being of our employees. To best ensure safety and to minimise the risk of virus transmission, we have implemented a series of preventative health measures for our employees around the world, based on country-specific situations and government guidance. This is especially important for our employees whose jobs cannot be done from home. I am pleased to be able to announce that we have not had to make any employee redundant, nor furlough any staff, due to the COVID-19 crisis. I would like to thank all of our employees and partners for their tremendous efforts to support everyone's well-being, as well as the success of the business during this time.

As a global business we are also working hard to support the wider community during this very difficult time. We are leveraging our distribution system across our markets to support the delivery of thousands of vital items such as cleaning and hygiene products, masks and food. We have repurposed a number of our manufacturing facilities to permit the manufacture of sanitisers and personal protective equipment. Following a request from the UK Government, we have also lent some of our analytical machinery to support their COVID-19 testing programme.

Additionally, our US bio-tech subsidiary, Kentucky BioProcessing (KBP) is developing a potential vaccine for COVID-19 which is now in pre-clinical testing. This vaccine project is being carried out on a not-for-profit basis.

Our current ESG priority is responding to the 'whole of society' approach called for by the WHO, as we have outlined above. That said, I would like to highlight the greater focus we have brought to ESG issues generally during 2019.


https://www.investegate.co.uk/british-a ... 00063993L/

Wizard
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Re: British American Tobacco (BATS)

#304346

Postby Wizard » April 30th, 2020, 7:50 am

idpickering wrote:AGM Statement

Since the publication of our Annual Report and Accounts last month, the situation relating to COVID-19 has developed significantly and, as a result, I am unable to address our AGM in person this year.

Our primary focus remains the health and well-being of our employees. To best ensure safety and to minimise the risk of virus transmission, we have implemented a series of preventative health measures for our employees around the world, based on country-specific situations and government guidance. This is especially important for our employees whose jobs cannot be done from home. I am pleased to be able to announce that we have not had to make any employee redundant, nor furlough any staff, due to the COVID-19 crisis. I would like to thank all of our employees and partners for their tremendous efforts to support everyone's well-being, as well as the success of the business during this time.

As a global business we are also working hard to support the wider community during this very difficult time. We are leveraging our distribution system across our markets to support the delivery of thousands of vital items such as cleaning and hygiene products, masks and food. We have repurposed a number of our manufacturing facilities to permit the manufacture of sanitisers and personal protective equipment. Following a request from the UK Government, we have also lent some of our analytical machinery to support their COVID-19 testing programme.

Additionally, our US bio-tech subsidiary, Kentucky BioProcessing (KBP) is developing a potential vaccine for COVID-19 which is now in pre-clinical testing. This vaccine project is being carried out on a not-for-profit basis.

Our current ESG priority is responding to the 'whole of society' approach called for by the WHO, as we have outlined above. That said, I would like to highlight the greater focus we have brought to ESG issues generally during 2019.


https://www.investegate.co.uk/british-a ... 00063993L/

My bold and underline.

Commendable, but the market might not like that if it is new news.

biffinsbridge
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Re: British American Tobacco (BATS)

#308341

Postby biffinsbridge » May 13th, 2020, 5:05 pm

Divi should have been paid today, but mine is not in on iWEB? Anybody been paid?Stay safe Dickie.

digitaria
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Re: British American Tobacco (BATS)

#308354

Postby digitaria » May 13th, 2020, 5:48 pm

Divi should have been paid today, but mine is not in on iWEB? Anybody been paid?


My Interactive Investor account has been credited.

monabri
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Re: British American Tobacco (BATS)

#308502

Postby monabri » May 13th, 2020, 11:29 pm

biffinsbridge wrote:Divi should have been paid today, but mine is not in on iWEB? Anybody been paid?Stay safe Dickie.



Not yet (iWeb account isa)

biffinsbridge
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Re: British American Tobacco (BATS)

#308663

Postby biffinsbridge » May 14th, 2020, 3:53 pm

credited today in my iWEB account ISA.Stay safe Dickie

idpickering
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Re: British American Tobacco (BATS)

#308817

Postby idpickering » May 15th, 2020, 11:15 am

BAT makes progress on COVID-19 vaccine & provides community support.

Our potential COVID-19 vaccine has been shown to produce a positive immune response and is poised to move to the next phase of testing.


https://www.bat.com/group/sites/UK__9D9 ... e/DOBPMBZC

idpickering
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Re: British American Tobacco (BATS)

#316593

Postby idpickering » June 9th, 2020, 7:16 am

2020 First Half Pre-Close Trading Update

· FY constant currency adjusted revenue in the 1-3% range (previously 'around the lower end of the 3-5% range')

· Mid-Single Figure FY constant currency adjusted diluted EPS growth (previously 'High-Single Figure')

· Continued deleveraging of the balance sheet to around 3x Adjusted Net Debt to Adjusted EBITDA by end 2021, (previously 'below 3x'), given the impact of COVID-19 on our operating results in 2020

· A continued dividend pay-out ratio of 65% of adjusted diluted EPS and growth in sterling terms, supported by a strong liquidity position


https://www.investegate.co.uk/british-a ... 00023229P/

Also posted on HYP Practical Board.

idpickering
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Re: British American Tobacco (BATS)

#329877

Postby idpickering » July 31st, 2020, 7:13 am


idpickering
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Re: British American Tobacco (BATS)

#347862

Postby idpickering » October 15th, 2020, 7:14 am

BAT To Appoint New Chairman.

We are pleased to announce that Luc Jobin will succeed Richard Burrows as Chairman of British American Tobacco p.l.c. (BAT). This will take effect from the conclusion of the Company's Annual General Meeting (AGM) on 28 April 2021 and, in order to ensure an effective transition of the leadership of the Board, Mr Jobin will be appointed as Chairman Designate of BAT effective 1 March 2021.


https://www.investegate.co.uk/british-a ... 00041277C/

idpickering
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Re: British American Tobacco (BATS)

#352838

Postby idpickering » November 3rd, 2020, 7:08 am

BAT Acquisition of Dryft Modern Oral Business

· This acquisition is a further step in BAT's societal commitment to accelerate its transformation journey to build A Better Tomorrow

· This expands BAT's US portfolio in Modern Oral nicotine, a fast-growing category in the US

· The products will be sold under BAT's global Modern Oral nicotine brand, VELO, creating further brand synergies

· This acquisition has no impact on BAT's commitment to previously stated deleverage targets


https://www.investegate.co.uk/british-a ... 00060180E/

idpickering
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Re: British American Tobacco (BATS)

#364317

Postby idpickering » December 9th, 2020, 7:31 am

2020 Second Half Pre-Close Trading Update

· Constant currency adjusted revenue growth now expected to be at the high end of the 1-3% range. This incorporates:

o Expected revenue headwind from COVID-19 reduced to c.-2.5% (previously c.-3%)

o Improved FY 2020 global industry cigarette and THP volume decline expected of c.-5% (previously c.-7%); US industry expected to be broadly flat (previously c.-2.5%)

o Absorption of a one-off impact to New Category revenue of £50m, following our decision to withdraw glo Sens from Japan

o The impact of a strong H2 2019 comparator

· Mid-Single Figure constant currency adjusted diluted EPS growth, reflecting:

o Further spend on New Categories, expected to increase by c.£200m in H2, capitalising on investment opportunities and good momentum in the business

o The significant negative impact of COVID-19 on associate income

· Continued deleveraging of the balance sheet to around 3x Adjusted Net Debt** to Adjusted EBITDA*** by the end of 2021

· A dividend pay-out ratio of 65% of adjusted diluted EPS and growth in sterling terms, supported by a strong liquidity position


https://www.investegate.co.uk/british-a ... 00049914H/

Darka
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Re: British American Tobacco (BATS)

#366682

Postby Darka » December 16th, 2020, 10:42 am

From the BBC:

A potential vaccine developed by British American Tobacco (BAT) has been approved for human trials in the US.

BAT - the company behind cigarette brands including Lucky Strike, Dunhill and Rothmans - first started to develop it in April. According to a press release put out on Wednesday, BAT's bio-tech arm in the US, Kentucky BioProcessing (KBP), created the candidate vaccine "using innovative plant-based technology".

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Re: British American Tobacco (BATS)

#366855

Postby GrahamPlatt » December 16th, 2020, 7:49 pm

Darka wrote:From the BBC:

A potential vaccine developed by British American Tobacco (BAT) has been approved for human trials in the US.

BAT - the company behind cigarette brands including Lucky Strike, Dunhill and Rothmans - first started to develop it in April. According to a press release put out on Wednesday, BAT's bio-tech arm in the US, Kentucky BioProcessing (KBP), created the candidate vaccine "using innovative plant-based technology".


https://www.theguardian.com/business/20 ... ine-humans

idpickering
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Re: British American Tobacco (BATS)

#377329

Postby idpickering » January 15th, 2021, 7:21 am

SFO Closes Investigation Into BAT

The Company has been informed by the UK's Serious Fraud Office (SFO) that the SFO has discontinued the investigation of suspicions of corruption in the conduct of business by the Company, its subsidiaries and associated persons, which was announced on 1 August 2017.

BAT is pleased that the SFO has closed its investigation and that the SFO is taking no further action in respect of this matter. BAT remains committed to the highest standards in the conduct of its business.


https://www.investegate.co.uk/british-a ... 00057833L/

idpickering
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Re: British American Tobacco (BATS)

#387343

Postby idpickering » February 17th, 2021, 7:15 am


idpickering
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Re: British American Tobacco (BATS)

#394617

Postby idpickering » March 11th, 2021, 1:23 pm

BAT enters strategic R&D collaboration with OGI

BAT Group (BAT) today announces the signing of a strategic collaboration agreement with Organigram Inc., a wholly-owned subsidiary of publicly-traded Organigram Holdings Inc. (collectively Organigram), focused on research and product development activities of next generation adult cannabis products, with an initial focus on cannabidiol (CBD).

This agreement augments ongoing BAT activities to expand its portfolio 'beyond nicotine' and follows the pilot launch of Vuse CBD Zone in Manchester, UK earlier this year. The collaboration reinforces BAT's consumer-centric multi-category approach, which has seen continued momentum and growth as BAT focuses on delivering on its purpose of building A Better Tomorrow™.


https://www.investegate.co.uk/british-a ... 10029666R/

Darka
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Re: British American Tobacco (BATS)

#394621

Postby Darka » March 11th, 2021, 2:04 pm

Thanks Ian,

I just wish BATS would buy IMB next :), at a massive premium of course!

idpickering
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Re: British American Tobacco (BATS)

#400734

Postby idpickering » April 1st, 2021, 7:19 am

Board Changes and Withdrawal of AGM Resolution

The Company announces that it has received notice from Jerry Fowden, Non-Executive Director of the Company, of his resignation from the Board with effect from 1 April 2021. Accordingly, he will not seek re-election at the Annual General Meeting to be held on 28 April 2021.

In view of BAT Group activities to expand its portfolio beyond nicotine, Jerry has decided to step down from the Board of the Company to ensure there would be no potential for a conflict of interest to arise in view of his other external commitments, which he has decided to focus on.

Chairman Richard Burrows said: "On behalf of the Board, I would like to thank Jerry for his valuable contribution to the Company since his appointment as a Non-Executive Director in September 2019. We wish him the very best for the future."

As the Company's Notice of Meeting has already been issued, the Company confirms that the resolution to reappoint Jerry Fowden as a Non-Executive Director of the Company (resolution number 9) is now withdrawn.

The withdrawal of resolution number 9 does not otherwise affect the validity of the Notice of Meeting, the proxy form or any proxy votes already submitted on other proposed resolutions. The numbering of all other proposed resolutions at the AGM will remain unchanged. This announcement is made in compliance with the Company's obligations under the Listing Rules, specifically Rule 9.6.11.


https://www.investegate.co.uk/british-a ... 00091865U/

idpickering
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Re: British American Tobacco (BATS)

#407528

Postby idpickering » April 28th, 2021, 7:08 am

2021 AGM: Chairman's Statement

The ongoing challenges of COVID-19 mean that I am again unable to address our AGM in person. Before turning to our performance in 2020, I'd like to make a few comments on the macro environment.

The unprecedented impact of the global pandemic has disrupted all aspects of life around the world. While the roll-out of vaccines is a welcome sign of a return to some semblance of normality, our sympathies are with anyone who is suffering and who may have lost family or friends during the crisis.

Our focus continues to be safeguarding the welfare of our people, while ensuring that the business continues to operate effectively. Our response to the crisis has evolved in line with the situation, and we remain fully committed to supporting all our stakeholders throughout the pandemic.

Our own efforts to develop a potential vaccine for COVID-19, as well as one for seasonal flu, are being led by our US bio-tech subsidiary, Kentucky BioProcessing. Both candidate vaccines are in Phase 1, first-time in human trials, following approval by the US Food and Drug Administration of the Investigational New Drug application.

2020: A Strong Operational Performance During Challenging Times

During 2020, the strength and agility of our business, combined with the professionalism and resilience of our global teams and partners, enabled BAT to continue delivering a strong operational performance.

Overall, we delivered constant currency revenue growth of 3.3%, above our revised 1-3% guidance range.

On a constant currency adjusted basis, profit from operations grew by 4.8%*, with diluted earnings per share ("EPS") up 5.5%. Operating margin grew by 100 basis points to 44.1% including the impact of currencies.

With adjusted operating cash conversion of 103%, we have continued to demonstrate our commitment to maximising cash to reduce leverage and invest in the business.

We have also maintained our dividend commitment at a 65% payout ratio, despite the challenging operating environment. The Board has declared a dividend of 215.6p per ordinary share, an increase of 2.5% on 2019.


https://www.investegate.co.uk/british-a ... 00037846W/


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