InterContinental Hotels Group PLC Announces Transaction in Own Shares – May 30
InterContinental Hotels Group PLC (IHG) announced the purchase of 39,315 of its ordinary shares on May 29, 2024. The transaction, conducted through Goldman Sachs International, follows shareholder authorization from the AGM held on May 3, 2024. The shares were bought on the London Stock Exchange at prices ranging from £76.80 to £78.24, with an average price of £77.27. The total number of shares now stands at 162,153,511, excluding 7,006,782 treasury shares. The company plans to cancel the purchased shares.
- The company repurchased 39,315 ordinary shares, signaling confidence in its financial health.
- The share buyback may positively impact earnings per share (EPS) by reducing the number of outstanding shares.
- The transaction was conducted at an average price of £77.27, indicating a strategic buyback at a competitive price.
- Share buybacks might indicate that the company has few profitable investment opportunities.
- The repurchased shares will be canceled, reducing cash reserves which could impact future investments or dividend payouts.
LONDON, UNITED KINGDOM / ACCESSWIRE / May 30, 2024 / The Company announces that on 29 May 2024 it purchased the following number of its ordinary shares of 20340/399 pence each through Goldman Sachs International ("GSI") on the London Stock Exchange in accordance with the authority granted by shareholders at the Company's Annual General Meeting on 3 May 2024 (the "Purchase"). The Purchase was effected pursuant to instructions issued by the Company on 20 February 2024, as announced on 20 February 2024.
| Date of purchase: | 29 May 2024 |
| Aggregate number of ordinary shares purchased: | 39,315 |
| Lowest price paid per share: | £ 76.8000 |
| Highest price paid per share: | £ 78.2400 |
| Average price paid per share: | £ 77.2658 |
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 162,153,511 ordinary shares in issue (excluding 7,006,782 held in treasury).
A full breakdown of the individual purchases by GSI is included below.
http://www.rns-pdf.londonstockexchange.com/rns/3552Q_1-2024-5-29.pdf
Enquiries to:
InterContinental Hotels Group PLC:
Investor Relations: Stuart Ford (+44 (0)7823 828 739); Aleksandar Milenkovic (+44 (0)7469 905 720); Joe Simpson (+44 (0)7976 862 072)
Media Relations: Mike Ward (+44 (0)7795 257 407)
Schedule of Purchases
Shares purchased: 39,315 (ISIN: GB00BHJYC057)
Date of purchases: 29 May 2024
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |
Number of ordinary shares purchased | 39,315 | |||
Highest price paid (per ordinary share) | £ 78.2400 | |||
Lowest price paid (per ordinary share) | £ 76.8000 | |||
Volume weighted average price paid(per ordinary share) | £ 77.2658 |
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SOURCE: InterContinental Hotels Group PLC
View the original press release on accesswire.com
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