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Notice of Redemption
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")
NOTICE OF REDEMPTION
to the holders of
B.A.T CAPITAL CORPORATION
(the “Issuer”)
US$2,250,000,000 2.297% Notes due 2020
(the “Notes”)
CUSIP Numbers: 05526DAQ8; U05526AE5; 0526DAR6
ISINs: US05526DAQ88; USU05526AE50; US05526DAR61
NOTICE IS HEREBY GIVEN to holders of the outstanding Notes of the Issuer that, in accordance
with paragraph 5 (Optional Redemption) of the Notes, the Issuer has decided to redeem all of its
outstanding Notes on 16 September 2019 (the “Redemption Date”). Citibank, N.A. acts as
authentication agent, paying agent, transfer agent, registrar and calculation agent under the Notes.
The redemption price payment will be made in accordance with paragraph 5 (Optional
Redemption) of the Notes. Notice of the redemption price will be given at least one Business Day
prior to the Redemption Date.
All conditions of the Notes remain unchanged until redemption and unless otherwise defined in this
Notice, terms used in this Notice have the meanings given to them in the Notes.
Furthermore, the Issuer hereby provides notice that it intends to cancel the listing of the Notes,
which are listed on the Official List of the Financial Conduct Authority and traded on the
Professional Securities Market of the London Stock Exchange plc.
Accordingly, the Issuer will request the Financial Conduct Authority to cancel the listing of the
Notes on or around 16 September 2019.
For and on behalf of
B.A.T Capital Corporation
6 September 2019
Forward-Looking Statements
This announcement contains certain forward-looking statements, including “forward-looking”
statements made within the meaning of Section 21E of the United States Securities Exchange Act
of 1934. These statements are often, but not always, made through the use of words or phrases
such as “believe,” “anticipate,” “could,” “may,” “would,” “should,” “intend,” “plan,” “potential,”
“predict,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy,” “outlook”, “target” and similar
expressions. These include statements regarding our intentions, beliefs or current expectations
concerning, amongst other things, our results of operations, financial condition, liquidity, prospects,
growth, strategies and the economic and business circumstances occurring from time to time in
the countries and markets in which the BAT Group operates.
All such forward-looking statements involve estimates and assumptions that are subject to risks,
uncertainties and other factors that could cause actual future financial condition, performance and
results to differ materially from the plans, goals, expectations and results expressed in the forward-
looking statements and other financial and/or statistical data within this announcement. Among the
key factors that could cause actual results to differ materially from those projected in the forward-
looking statements are uncertainties related to the following: the impact of competition from illicit
trade; the impact of adverse domestic or international legislation and regulation; changes in
domestic or international tax laws and rates; adverse litigation and dispute outcomes and the
effect of such outcomes on the Group’s financial condition; changes or differences in domestic or
international economic or political conditions; adverse decisions by domestic or international
regulatory bodies; the impact of market size reduction and consumer down-trading; translational
and transactional foreign exchange rate exposure; the impact of serious injury, illness or death in
the workplace; the ability to maintain credit ratings and to fund the business under the current
capital structure; the inability to develop, commercialise and roll-out Potentially Reduced-Risk
Products; and changes in the market position, businesses, financial condition, results of operations
or prospects of the Group.
It is believed that the expectations reflected in this announcement are reasonable but they may be
affected by a wide range of variables that could cause actual results to differ materially from those
currently anticipated. Past performance is no guide to future performance and persons needing
advice should consult an independent financial adviser. The forward-looking statements reflect
knowledge and information available at the date of preparation of this announcement and the
Group undertakes no obligation to update or revise these forward-looking statements, whether as
a result of new information, future events or otherwise. Readers are cautioned not to place undue
reliance on such forward-looking statements.
No statement in this communication is intended to be a profit forecast and no statement in this
communication should be interpreted to mean that earnings per share of BAT for the current or
future financial years would necessarily match or exceed the historical published earnings per
share of BAT.
Additional information concerning these and other factors can be found in the Company’s filings
with the U.S. Securities and Exchange Commission (“SEC”), including the Annual Report on Form
20-F filed on 15 March 2019 and Current Reports on Form 6-K, which may be obtained free of
charge at the SEC’s website, http://www.sec.gov, and the Company’s Annual Reports, which may
be obtained free of charge from the British American Tobacco website www.bat.com.
Enquiries:
Investor Relations
Mike Nightingale / Rachael Brierley / John Harney
+44 (0) 20 7845 1180 / 1519 / 1263
Press Office
+44 (0) 20 7845 2888 (24 hours) | @BATPress
Sponsor: UBS South Africa (Pty) Ltd
Date: 06/09/2019 05:00:00
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