Spring Mountain Investments Ltd has reduced its stake in British American Tobacco $BATS (-0,52%) in British American Tobacco. The investor reduced its share of voting rights from 9.99% to 9.21% - and thus fell below the psychologically important 10% mark. Such changes in position by major players often influence the corporate governance dynamics of a company.
At the same time, the tobacco group is continuing its buyback program unabated. On April 17, the company acquired 129,740 of its own shares via UBS AG. These shares are now to be canceled.
Following this transaction, the total number of ordinary shares in issue is 2,200,816,413 (excluding treasury shares). British American Tobacco currently holds 133,013,619 treasury shares.
