Standard Bank Reports 4.65M BTI Shares (0.2%) on Schedule 13D

Rhea-AI Filing Summary

Standard Bank of South Africa Ltd filed a Schedule 13D reporting beneficial ownership of 4,647,718 ordinary shares of British American Tobacco p.l.c. (ticker: BTI), representing 0.2% of the class. The filing states the holdings arise from the Standard Bank Group's trading, investment and hedging activities through its brokerage subsidiary, SBG Securities Pty Ltd. No contracts, arrangements or legal proceedings are reported, and no material exhibits are attached. The filing identifies Standard Bank as a South African licensed bank and financial services provider and lists an event date of September 2, 2025.

Positive

• Timely disclosure of beneficial ownership via Schedule 13D
• Clarity on source of holdings attributed to group trading, investment and hedging activities
• Registered representative identified (SBG Securities Pty Ltd) and compliance officer signature

Negative

• Position is small (0.2%), so it is unlikely to be material to investors
• No detailed purpose beyond general trading/hedging language, limiting insight into intent
• No exhibits or agreements filed that would indicate strategic action or arrangements

Insights

Financial Analyst

TL;DR Small disclosed stake of 0.2% is routine trading exposure and is unlikely to materially affect BTI's capital structure or operations.

The Schedule 13D discloses a modest position of 4,647,718 ordinary shares (0.2%). The filing attributes the position to routine trading, investment and hedging activity via the group's equity broker. There are no disclosed agreements or activist intent, no requested board changes, and no material arrangements or exhibits. From an investor perspective, the position size is immaterial relative to a large-cap issuer and does not indicate strategic influence or control.

Compliance/Risk Analyst

TL;DR Filing appears compliant and transparent but provides limited detail on trading purpose beyond general hedging and investment activities.

The disclosure satisfies Schedule 13D requirements by identifying the reporting person, citizenship, address, aggregate shares and percent ownership, and a contact. It notes source of funds as private funds and other (PF, OO). No legal proceedings or special arrangements are reported. The filing lacks additional granularity on timing or counterparties, but that level of detail is not required here. Overall, documentation and signature by a compliance officer support procedural completeness.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

British American Tobacco p.l.c.

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

GB0002875804

(CUSIP Number)

Samira Rajaram
30 Baker Street, Rosebank
Johannesburg, T3, 2196
27114154465

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/02/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. GB0002875804

1

Name of reporting person

STANDARD BANK OF SOUTH AFRICA LTD

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

SOUTH AFRICA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 4,647,718.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 4,647,718.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

4,647,718.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.2 %

14

Type of Reporting Person (See Instructions)

BD, IA, IV, BK

Comment for Type of Reporting Person:

Standard Bank is a licensed bank and Financial Service provider in South Africa. SBG Securities (Pty) Ltd is a subsidiary of the Standard Bank Group and is the equity broker for the group and has a membership with the Johannesburg Stock Exchange (JSE) and A2X exchange in South Africa.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Ordinary Shares
(b)	Name of Issuer: British American Tobacco p.l.c.
(c)	Address of Issuer's Principal Executive Offices: GLOBE HOUSE, 4 TEMPLE PLACE, LONDON, UNITED KINGDOM , WC2R 2PG.
Item 1 Comment: Standard Bank is a licensed bank and Financial Service provider in South Africa. SBG Securities Pty Ltd is a subsidiary of the Standard Bank Group and is the equity broker for the group and has a membership with the Johannesburg Stock Exchange and A2X exchange in South Africa. As part of the Group and subsidiaries trading. As part of the Groups trading, investment and hedging strategies, it may hold equity positions from time to time.
Item 2.	Identity and Background
(a)	Name: Standard Bank Group Entity Type: Publicly listed Company
(b)	Address: 30 Baker Street, Rosebank, Johannesburg 2196
(c)	Standard Bank is a licensed bank and Financial Service provider in South Africa. SBG Securities Pty Ltd is a subsidiary of the Standard Bank Group and is the equity broker for the group and has a membership with the Johannesburg Stock Exchange and A2X exchange in South Africa. As part of the Groups trading, investment and hedging strategies, it may hold equity positions from time to time.
(d)	No
(e)	No
(f)	South Africa
Item 3.	Source and Amount of Funds or Other Consideration
	Standard Bank is a licensed bank and Financial Service provider in South Africa. SBG Securities Pty Ltd is a subsidiary of the Standard Bank Group and is the equity broker for the group and has a membership with the Johannesburg Stock Exchange and A2X exchange in South Africa. As part of the Groups trading, investment and hedging strategies, it may hold equity positions from time to time.
Item 4.	Purpose of Transaction
	Standard Bank is a licensed bank and Financial Service provider in South Africa. SBG Securities Pty Ltd is a subsidiary of the Standard Bank Group and is the equity broker for the group and has a membership with the Johannesburg Stock Exchange and A2X exchange in South Africa. As part of the Groups trading, investment and hedging strategies, it may hold equity positions from time to time.
Item 5.	Interest in Securities of the Issuer
(a)	Aggregate Number: 4,647,718 Percentage: 0.2%
(b)	Number of shares = 4,647,718
(c)	Standard Bank is a licensed bank and Financial Service provider in South Africa. SBG Securities Pty Ltd is a subsidiary of the Standard Bank Group and is the equity broker for the group and has a membership with the Johannesburg Stock Exchange and A2X exchange in South Africa. As part of the Groups trading, investment and hedging strategies, it may hold equity positions from time to time.
(d)	Standard Bank is a licensed bank and Financial Service provider in South Africa and is a public company listed on the Johannesburg Stock Exchange.
(e)	2 September 2025
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Standard Bank is a licensed bank and Financial Service provider in South Africa. SBG Securities Pty Ltd is a subsidiary of the Standard Bank Group and is the equity broker for the group and has a membership with the Johannesburg Stock Exchange and A2X exchange in South Africa. As part of the Groups trading, investment and hedging strategies, it may hold equity positions from time to time.
Item 7.	Material to be Filed as Exhibits.
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

STANDARD BANK OF SOUTH AFRICA LTD

Signature:	S Rajaram
Name/Title:	Samira Rajaram - Compliance Officer
Date:	09/03/2025

FAQ

What stake did Standard Bank report in British American Tobacco (BTI)?

Standard Bank reported beneficial ownership of 4,647,718 shares, equal to 0.2% of the ordinary shares.

Why did Standard Bank file this Schedule 13D for BTI?

The filing states the position arises from the group's trading, investment and hedging strategies executed through SBG Securities Pty Ltd.

Does the filing indicate any agreement to influence BTI management or board?

No. The filing discloses no contracts, arrangements, or intended actions to influence management or the board.

Are there any legal proceedings disclosed in the Schedule 13D?

No. The filer checked that no disclosure of legal proceedings is required.

When is the event date noted in the filing?

The filing lists the event date as September 2, 2025 and the signature date as September 3, 2025.