InterContinental Hotels Group PLC Announces Transaction in Own Shares - Oct 26

Rhea-AI Summary

InterContinental Hotels Group announced the purchase of 273,992 shares on 25 October 2022 at an average price of £45.9000. The transaction was executed via Goldman Sachs International on the London Stock Exchange, and the company plans to cancel these shares. Following this buyback, there are 177,763,607 ordinary shares outstanding, excluding those held in treasury. This move reflects the company’s strategy of returning value to shareholders.

Positive

• Share buyback of 273,992 shares, indicating confidence in the company's value.
• Average purchase price of £45.9000 suggests a strategic investment in its own shares.

Negative

• None.

Purchase of own shares

LONDON, UK / ACCESSWIRE / October 26, 2022 / The Company announces that on 25 October 2022 it purchased the following number of its ordinary shares of 20^340/399pence 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 6 May 2022 (the "Purchase"). The Purchase was effected pursuant to instructions issued by the Company on 09 August 2022, as announced on 09 August 2022.

Date of purchase:	25 October 2022
Aggregate number of ordinary shares purchased:	273,992
Lowest price paid per share:	£ 44.1400
Highest price paid per share:	£ 44.8500
Average price paid per share:	£ 45.9000

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 177,763,607 ordinary shares in issue (excluding 8,156,782 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: Amy Shields (+44 (0)7881 035 550); Claire Scicluna (+44 (0)7776 778 808)

Schedule of Purchases

Shares purchased: 273,992 (ISIN: GB00BHJYC057)

Date of purchases: 25 October 2022

Investment firm: GSI

Aggregated information:

	London Stock Exchange	Cboe BXE	Cboe CXE	Turquoise
Number of ordinary shares purchased	148,000	64,311	49,768	11,913
Highest price paid (per ordinary share)	£ 45.9000	£ 45.9000	£ 45.9000	£ 45.8800
Lowest price paid (per ordinary share)	£ 44.8500	£ 44.8500	£ 44.8500	£ 44.8600
Volume weighted average price paid(per ordinary share)	£ 45.5531	£ 45.5535	£ 45.5492	£ 45.5260

Click on, or paste the following link into your web browser, to view full announcement:

http://www.rns-pdf.londonstockexchange.com/rns/0959E_1-2022-10-25.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: InterContinental Hotels Group PLC

View source version on accesswire.com:
https://www.accesswire.com/722330/InterContinental-Hotels-Group-PLC-Announces-Transaction-in-Own-Shares--Oct-26

FAQ

What shares did IHG purchase on October 25, 2022?

IHG purchased 273,992 ordinary shares on October 25, 2022.

What was the average price paid per share in IHG's buyback?

The average price paid per share was £45.9000.

How many shares remain in circulation after IHG's buyback?

After the buyback, IHG has 177,763,607 ordinary shares in issue.

Who facilitated the share buyback for IHG?

Goldman Sachs International facilitated the share buyback.

What does IHG plan to do with the purchased shares?

IHG intends to cancel the purchased shares.