The net proceeds from the block trade, which amount to approximately GBP1.5 billion at current exchange rates, will be used to buy back BAT shares.

Appleby advised BAT on corporate governance aspects and on the capacity and authority of TMI to undertake the block trade. The Appleby team was led by Isle of Man based corporate partner Garry Manley and assisted by senior associate Sophie Corkish. Appleby worked with Herbert Smith Freehills LLP who acted as English counsel to BAT.


Key Contacts

Garry Manley

Partner, Head of Corporate: Isle of Man

T +44 (0)1624 647 638
E Email Garry

Sophie Corkish

Senior Associate: Isle of Man

T +44 (0)1624 647 696
E Email Sophie

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