BTI Director Dealings Neutral
BRITISH AMERICAN TOBACCO PLC - Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities
British American Tobacco p.l.c.
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What this filing means
A routine administrative re-registration of ADRs between a non-executive director and his spouse at nil consideration. Kandy Anand transferred 3,792 ADRs from joint holding to his sole name, while 3,793 ADRs moved from his sole name to his spouse's sole name — no new economic interest was created or disposed of, and no market transaction took place. There is nothing here to act on.
Bear case
- The transactions are spousal re-registrations of jointly-held ADRs at nil consideration — no economic event for the issuer.
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