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InterContinental Hotels Group PLC Announces Transaction in Own Shares - June 13

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On June 13, 2024, InterContinental Hotels Group (IHG) announced the repurchase of 27,287 ordinary shares at an average price of £81.1077 per share. The transaction, conducted through Goldman Sachs International, took place on the London Stock Exchange on June 12, 2024, under authority granted by shareholders at the AGM on May 3, 2024. The highest price paid per share was £82.0600, and the lowest was £80.1000. The company plans to cancel the repurchased shares, reducing its total number of ordinary shares to 161,781,550, excluding 7,006,782 held in treasury.

Positive
  • Repurchase of 27,287 shares at an average price of £81.1077 enhances shareholder value.
  • Reduction in the number of shares outstanding to 161,781,550, excluding treasury shares, may increase EPS.
  • Share buyback funded through Goldman Sachs International indicates strong financial partnerships.
Negative
  • The highest price paid for the repurchase was £82.0600, indicating potential market overvaluation.
  • Share repurchase might raise concerns about the company’s investment opportunities and future growth prospects.
  • The repurchase did not significantly affect the number of shares held in treasury (7,006,782).

LONDON, UK / ACCESSWIRE / June 13, 2024 / The Company announces that on 12 June 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:12 June 2024
Aggregate number of ordinary shares purchased:27,287
Lowest price paid per share:£ 80.1000
Highest price paid per share:£ 82.0600
Average price paid per share:£ 81.1077

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 161,781,550 ordinary shares in issue (excluding 7,006,782 held in treasury).

A full breakdown of the individual purchases by GSI is included below.

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: 27,287 (ISIN: GB00BHJYC057)

Date of purchases: 12 June 2024

Investment firm: GSI

Aggregated information:

London Stock Exchange

Cboe BXE

Cboe CXE

Turquoise

Number of ordinary shares purchased

27,287

Highest price paid (per ordinary share)

£ 82.0600

Lowest price paid (per ordinary share)

£ 80.1000

Volume weighted average price paid(per ordinary share)

£ 81.1077

Detailed information:

Transaction Date

Time

Time Zone

Volume

Price (GBP)

Trading Venue

Transaction ID

12/06/2024

10:16:35

BST

52

80.2600

XLON

1011276499134588

12/06/2024

10:18:32

BST

52

80.2400

XLON

1011276499134700

12/06/2024

10:19:28

BST

52

80.2800

XLON

1011276499134787

12/06/2024

10:21:24

BST

30

80.3400

XLON

1011276499135228

12/06/2024

10:21:24

BST

22

80.3400

XLON

1011276499135229

12/06/2024

10:22:38

BST

52

80.3600

XLON

1011276499135377

12/06/2024

10:22:58

BST

52

80.3400

XLON

1011276499135391

12/06/2024

10:22:58

BST

7

80.3200

XLON

1011276499135393

12/06/2024

10:22:58

BST

45

80.3200

XLON

1011276499135394

12/06/2024

10:23:22

BST

36

80.3000

XLON

1011276499135478

12/06/2024

10:24:21

BST

44

80.4000

XLON

1011276499135578

12/06/2024

10:24:21

BST

44

80.3800

XLON

1011276499135580

12/06/2024

10:25:00

BST

44

80.3600

XLON

1011276499135590

12/06/2024

10:25:22

BST

46

80.3400

XLON

1011276499135622

12/06/2024

10:25:54

BST

50

80.3200

XLON

1011276499135674

12/06/2024

10:27:55

BST

52

80.2800

XLON

1011276499135813

12/06/2024

10:29:22

BST

44

80.2400

XLON

1011276499135907

12/06/2024

10:30:23

BST

52

80.2000

XLON

1011276499135980

12/06/2024

10:34:15

BST

52

80.3400

XLON

1011276499136151

12/06/2024

10:41:18

BST

52

80.4600

XLON

1011276499136606

12/06/2024

10:42:55

BST

52

80.5000

XLON

1011276499136705

12/06/2024

10:44:51

BST

52

80.4800

XLON

1011276499136783

12/06/2024

10:46:08

BST

52

80.4600

XLON

1011276499136846

12/06/2024

10:48:11

BST

38

80.4400

XLON

1011276499136928

12/06/2024

10:49:51

BST

44

80.4800

XLON

1011276499137056

12/06/2024

10:50:34

BST

8

80.4800

XLON

1011276499137124

12/06/2024

10:54:54

BST

52

80.4600

XLON

1011276499137372

12/06/2024

10:54:56

BST

14

80.4400

XLON

1011276499137381

12/06/2024

10:55:16

BST

52

80.4200

XLON

1011276499137400

12/06/2024

10:55:26

BST

13

80.4400

XLON

1011276499137440

12/06/2024

10:57:37

BST

39

80.4400

XLON

1011276499137593

12/06/2024

10:58:11

BST

52

80.4200

XLON

1011276499137632

12/06/2024

10:59:20

BST

7

80.4800

XLON

1011276499137701

12/06/2024

10:59:20

BST

45

80.4800

XLON

1011276499137702

12/06/2024

10:59:20

BST

52

80.4600

XLON

1011276499137708

12/06/2024

11:00:00

BST

52

80.4400

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FAQ

What was the average price per share paid by InterContinental Hotels Group in the June 12, 2024 repurchase?

The average price per share paid was £81.1077.

How many shares did InterContinental Hotels Group repurchase on June 12, 2024?

InterContinental Hotels Group repurchased 27,287 ordinary shares.

What was the highest price paid per share in the recent IHG share repurchase?

The highest price paid per share was £82.0600.

What is the new total number of ordinary shares for InterContinental Hotels Group after the June 12, 2024 repurchase?

The new total is 161,781,550 ordinary shares, excluding 7,006,782 held in treasury.

Who conducted the repurchase of IHG shares on June 12, 2024?

The repurchase was conducted through Goldman Sachs International.

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