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BTI
BTI
BTI - British American Tobacco p.l.c - Listing In South Africa
British American Tobacco p.l.c.
Incorporated in England and Wales
(Registration number: 03407696)
Short name: BATS
Share code: BTI
ISIN number: GB0002875804
("British American Tobacco p.l.c." or "the Company")
BRITISH AMERICAN TOBACCO p.l.c.
LISTING IN SOUTH AFRICA
On 28 October 2008, British American Tobacco p.l.c. (the "Company") obtained
approval from the South African Reserve Bank (the "SARB") for the secondary or
inward listing of its ordinary shares (the "Shares") on the JSE Limited in South
Africa to enable the restructuring of the shareholdings in the Company held by
Remgro Limited and Compagnie Financiere Richemont S.A. to take place (the
"Restructurings").
The Restructurings resulted in the receipt of Shares by South African
institutional investors as part of the utilisation of their general foreign
portfolio investment allowance. Being aware that the receipt of the Shares could
result in South African institutional investors exceeding their investment
allowances of inward listed shares, the SARB granted a dispensation of a period
of 24 months from October 2008 to South African institutional investors in order
that they may realign their portfolios in respect of the amount of inward listed
shares that they could hold.
On 20 May 2010, the Company received notification from the SARB that the South
African Minister of Finance has decided to extend the previously approved 24
months period for South African institutional investors to realign their
portfolios by another 24 months until 31 October 2012.
The Company was also notified by the SARB that the decision to extend the period
of 24 months was taken in the context of the South African National Treasury`s
review of the current policy on inward listings and the finalisation of the
prudential regulatory framework for foreign exposure by institutional investors
in South Africa. Further, the Company has been advised that in the event of the
implementation of such a revised policy in South Africa prior to the expiry of
the approved extension period, then this new dispensation would fall away and
the new policy would apply.
Nicky Snook
Company Secretary
British American Tobacco p.l.c.
ENQUIRIES
British American Tobacco Press Office
David Betteridge / Kate Matrunola / Catherine Armstrong
+44 (0) 20 7845 2888
Investor Relations
Ralph Edmondson / Maya Farhat
+44 (0) 20 7845 1180 / 1977
21 May 2010
Sponsor: UBS South Africa (Pty) Ltd
Date: 21/05/2010 10:05:02 Produced by the JSE SENS Department.
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