InterContinental Hotels Group PLC Announces Transaction in Own Shares - Oct 6

Rhea-AI Summary

InterContinental Hotels Group announced the purchase of 110,690 ordinary shares on October 5, 2022, through Goldman Sachs International on the London Stock Exchange. This action follows the authority granted by shareholders during the Annual General Meeting on May 6, 2022. Shares were purchased at an average price of £44.5339, with a lowest price of £44.2700 and a highest price of £44.8600. Post-transaction, the company holds 8,025,401 shares in treasury and 179,692,319 shares issued (excluding treasury shares).

Positive

• Successful share buyback of 110,690 shares indicates confidence in stock value.
• Average purchase price of £44.5339 suggests strategic timing of buyback.

Negative

• None.

LONDON, UK / ACCESSWIRE / October 6, 2022 / The Company announces that on 05 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: 05 October 2022

Aggregate number of ordinary shares purchased: 110,690

Lowest price paid per share: £ 44.2700

Highest price paid per share: £ 44.8600

Average price paid per share: £ 44.5339

The Company intends to hold the purchased shares in treasury.

Following the above transaction, the Company holds 8,025,401 of its ordinary shares in treasury and has 179,692,319 shares in issue (excluding treasury shares).

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: 110,690 (ISIN: GB00BHJYC057)

Date of purchases: 05 October 2022

Investment firm: GSI

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

http://www.rns-pdf.londonstockexchange.com/rns/9469B_1-2022-10-5.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/719263/InterContinental-Hotels-Group-PLC-Announces-Transaction-in-Own-Shares--Oct-6

FAQ

What is the recent stock purchase by IHG?

On October 5, 2022, InterContinental Hotels Group purchased 110,690 ordinary shares at an average price of £44.5339.

How many shares does IHG hold in treasury after the recent buyback?

After the buyback, IHG holds a total of 8,025,401 shares in treasury.

What was the highest and lowest price per share for IHG's recent buyback?

The highest price paid per share was £44.8600 and the lowest was £44.2700.

When was the share purchase authorized for IHG?

The share buyback was authorized by shareholders at the Annual General Meeting held on May 6, 2022.

Who executed the share purchases for IHG?

The share purchases were executed by Goldman Sachs International on behalf of IHG.