Imperial Brands PLC (IMB), the FTSE-listed tobacco and next-generation products group, has announced the purchase and cancellation of 977,781 ordinary shares of 10 pence each, forming part of its £750 million share repurchase programme launched on 8 October 2026. The transactions were executed across five trading days between 19 and 23 October 2026, with all purchases made through HSBC Bank plc on the London Stock Exchange. Following settlement and cancellation, the company's remaining ordinary shares in issue will stand at 755,696,994, a figure that shareholders with notification obligations must use as the new denominator under FCA transparency rules.

Key Points

  • Imperial Brands PLC (IMB), Legal Entity Identifier 549300DFVPOB67JL3A42
  • 977,781 ordinary shares of 10 pence each purchased for cancellation across five trading sessions between 19 and 23 October 2026
  • Volume weighted average prices ranged from 2,816.90p to 2,860.93p per share; the buyback programme totals £750 million
  • Investors should monitor further cancellation announcements as the £750 million programme continues to progress

Five-Day Purchase Schedule and Pricing Under Imperial Brands' £750 Million Buyback

Imperial Brands purchased shares across five consecutive trading days, with daily volumes and pricing disclosed in full. On 19 October 2026, the company acquired 265,000 shares at a volume weighted average price of 2,816.90p, with prices ranging from 2,800.00p to 2,859.00p. Subsequent daily purchases of 174,437, 184,924, 183,540, and 169,880 shares followed on 20 to 23 October respectively, with weighted average prices rising progressively to 2,860.93p by 23 October. The highest single price paid across the period was 2,874.00p, recorded on 23 October 2026.

HSBC Bank Executes All Transactions as On-Exchange Trades on the London Stock Exchange

All 977,781 shares were purchased from HSBC Bank plc as on-exchange transactions, conducted under the rules of the London Stock Exchange. The use of a single executing broker and an established exchange venue is consistent with the regulatory framework governing share buyback programmes. The transactions were carried out pursuant to Article 5(1)(b) of Regulation (EU) No 596/2014, the Market Abuse Regulation, under which detailed individual purchase data has been appended to the company's announcement and filed with the London Stock Exchange.

Remaining Shares in Issue Fall to 755,696,994 After Cancellation of October Tranche

Following settlement and cancellation of the purchased shares, Imperial Brands' total ordinary shares in issue will be 755,696,994, excluding treasury shares. The company has confirmed that this figure serves as the official denominator for shareholders and other parties calculating whether they are required to notify a change in their interest under the FCA's Disclosure Guidance and Transparency Rules. Investors and institutional holders with threshold-sensitive positions should take note of the updated share count when assessing their disclosure obligations.

£750 Million Programme Context: Capital Return Strategy for Imperial Brands Shareholders

The £750 million repurchase programme was originally announced on 8 October 2026, and the current tranche represents continued execution of that commitment. Share buybacks of this scale are a significant element of capital allocation strategy for large-cap consumer goods companies such as Imperial Brands, reducing the share count over time and returning value to remaining shareholders. Investors may be watching the pace of programme execution and the total capital deployed as further tranches are announced in the weeks ahead.