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InterContinental Hotels Group PLC Announces Transaction in Own Shares - Aug 23

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InterContinental Hotels Group PLC (IHG) announced the purchase of 10,000 of its ordinary shares on August 22, 2024, through Goldman Sachs International on the London Stock Exchange. The shares were bought at prices ranging from £74.38 to £75.00, with an average price of £74.6549 per share. This transaction was executed under the authority granted by shareholders at the Company's Annual General Meeting on May 3, 2024. Following this purchase, IHG has 159,758,468 ordinary shares in issue (excluding 7,006,782 held in treasury). The company intends to cancel the purchased shares.

Il gruppo InterContinental Hotels Group PLC (IHG) ha annunciato l'acquisto di 10.000 delle sue azioni ordinarie il 22 agosto 2024, tramite Goldman Sachs International sulla Borsa di Londra. Le azioni sono state acquistate a prezzi che variano da £74,38 a £75,00, con un prezzo medio di £74,6549 per azione. Questa operazione è stata eseguita nell'ambito dell'autorità concessa dagli azionisti durante l'Assemblea Generale Annuale della società il 3 maggio 2024. A seguito di questo acquisto, IHG ha 159.758.468 azioni ordinarie in circolazione (escludendo 7.006.782 detenute in tesoreria). L'azienda intende annullare le azioni acquistate.

El grupo InterContinental Hotels Group PLC (IHG) anunció la compra de 10,000 de sus acciones ordinarias el 22 de agosto de 2024, a través de Goldman Sachs International en la Bolsa de Londres. Las acciones se compraron a precios que oscilan entre £74.38 y £75.00, con un precio medio de £74.6549 por acción. Esta transacción se realizó bajo la autoridad otorgada por los accionistas en la Junta General Anual de la Compañía el 3 de mayo de 2024. Tras esta compra, IHG tiene 159,758,468 acciones ordinarias en circulación (excluyendo 7,006,782 en tesorería). La empresa tiene la intención de anular las acciones adquiridas.

인터컨티넨탈 호텔 그룹 PLC (IHG)는 2024년 8월 22일 런던 증권 거래소에서 골드만 삭스를 통해 10,000주의 보통주를 구매했다고 발표했습니다. 주가는 £74.38에서 £75.00 사이였으며, 1주당 평균 가격은 £74.6549입니다. 이 거래는 2024년 5월 3일 회사의 연례 총회에서 주주에게 부여된 권한에 따라 수행되었습니다. 이 구매 후, IHG는 159,758,468주의 보통주를 발행하고 있으며 (재고로 보유 중인 7,006,782주는 제외), 회사는 구매한 주식을 취소할 계획입니다.

Le groupe InterContinental Hotels Group PLC (IHG) a annoncé l'achat de 10 000 de ses actions ordinaires le 22 août 2024, via Goldman Sachs International sur la Bourse de Londres. Les actions ont été achetées à des prix variant entre £74,38 et £75,00, avec un prix moyen de £74,6549 par action. Cette transaction a été exécutée en vertu de l'autorité accordée par les actionnaires lors de l'Assemblée Générale Annuelle de la société le 3 mai 2024. À la suite de cet achat, IHG a 159 758 468 actions ordinaires en circulation (hors 7 006 782 détenues en trésorerie). L'entreprise a l'intention de cancel les actions achetées.

Die InterContinental Hotels Group PLC (IHG) gab am 22. August 2024 den Kauf von 10.000 ihrer Stammaktien bekannt, durchgeführt über Goldman Sachs International an der Londoner Börse. Die Aktien wurden zu Preisen zwischen £74,38 und £75,00 gekauft, mit einem durchschnittlichen Preis von £74,6549 pro Aktie. Diese Transaktion wurde auf Grundlage der Vollmacht durchgeführt, die den Aktionären auf der Hauptversammlung des Unternehmens am 3. Mai 2024 erteilt wurde. Nach diesem Kauf hat IHG 159.758.468 Stammaktien im Umlauf (ohne 7.006.782, die im Eigenbestand gehalten werden). Das Unternehmen beabsichtigt, die gekauften Aktien zu stornieren.

Positive
  • IHG is conducting a share buyback program, which can potentially increase shareholder value
  • The company has a substantial number of shares (7,006,782) held in treasury, providing financial flexibility
Negative
  • The share buyback reduces the company's cash reserves, which could impact its financial flexibility

Insights

InterContinental Hotels Group's (IHG) recent share buyback is a routine capital management activity that doesn't significantly impact the company's financial position. The purchase of 10,000 shares at an average price of £74.6549 amounts to approximately £746,549, which is relatively small considering IHG's market capitalization.

The intent to cancel these shares could marginally increase earnings per share for remaining shareholders. However, with 159,758,468 shares outstanding post-transaction, the impact is minimal. This action suggests management believes the stock may be undervalued but doesn't indicate any major shift in strategy or financial outlook.

Investors should note that while share buybacks can be seen positively, they don't necessarily reflect operational improvements or growth prospects. It's important to consider this action alongside IHG's broader financial performance and industry trends.

This share repurchase by IHG, while routine, offers some insights into market dynamics. The narrow price range of £74.38 to £75.00 suggests relative stability in IHG's stock price during the purchase period. This could indicate market confidence in the company's current valuation.

The timing of the buyback, coming after the peak summer travel season, might reflect management's view on the company's cash flow strength. However, investors should consider broader industry trends, such as post-pandemic travel recovery and potential economic headwinds, when interpreting this action.

The low volume of shares purchased (0.006% of outstanding shares) indicates this is more about ongoing capital management than a significant shift in corporate strategy. It's important to monitor future buyback patterns and compare them with industry peers to gauge relative market sentiment.

Purchase of own shares

LONDON, UK / ACCESSWIRE / August 23, 2024 / The Company announces that on 22 August 2024 it purchased the following number of its ordinary shares of 20340/399pence 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 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:

22 August 2024

Aggregate number of ordinary shares purchased:

10,000

Lowest price paid per share:

£ 74.3800

Highest price paid per share:

£ 75.0000

Average price paid per share:

£ 74.6549

The Company intends to cancel the purchased shares

Following the above transaction, the Company has 159,758,468 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: 10,000 (ISIN: GB00BHJYC057)

Date of purchases: 22 August 2024

Investment firm: GSI

Aggregated information:

London Stock Exchange

Cboe BXE

Cboe CXE

Turquoise

Number of ordinary shares purchased

10,000

Highest price paid (per ordinary share)

£ 75.0000

Lowest price paid (per ordinary share)

£ 74.3800

Volume weighted average price paid(per ordinary share)

£ 74.6549

Detailed information:

Transaction Date

Time

Time Zone

Volume

Price (GBP)

Trading Venue

Transaction ID

22/08/2024

09:49:39

BST

63

74.7000

XLON

1055188244762844

22/08/2024

09:49:39

BST

30

74.7000

XLON

1055188244762845

22/08/2024

09:50:55

BST

84

74.7400

XLON

1055188244762922

22/08/2024

09:50:59

BST

67

74.7000

XLON

1055188244762930

22/08/2024

09:54:30

BST

50

74.7400

XLON

1055188244763174

22/08/2024

09:55:30

BST

54

74.7000

XLON

1055188244763220

22/08/2024

09:57:35

BST

46

74.7400

XLON

1055188244763307

22/08/2024

09:58:53

BST

46

74.7000

XLON

1055188244763361

22/08/2024

10:01:06

BST

79

74.8200

XLON

1055188244763507

22/08/2024

10:05:48

BST

74

74.8000

XLON

1055188244763734

22/08/2024

10:11:44

BST

70

74.8800

XLON

1055188244764057

22/08/2024

10:15:45

BST

70

74.9200

XLON

1055188244764194

22/08/2024

10:28:24

BST

54

74.9200

XLON

1055188244764629

22/08/2024

10:32:35

BST

60

75.0000

XLON

1055188244764814

22/08/2024

10:32:45

BST

65

74.9600

XLON

1055188244764826

22/08/2024

10:48:00

BST

41

74.9400

XLON

1055188244765404

22/08/2024

10:48:00

BST

6

74.9400

XLON

1055188244765405

22/08/2024

10:48:10

BST

41

74.9000

XLON

1055188244765426

22/08/2024

10:48:10

BST

19

74.9000

XLON

1055188244765427

22/08/2024

10:48:25

BST

70

74.8600

XLON

1055188244765444

22/08/2024

10:56:00

BST

69

74.8400

XLON

1055188244765671

22/08/2024

10:58:21

BST

72

74.8000

XLON

1055188244765773

22/08/2024

11:07:52

BST

68

74.8200

XLON

1055188244766118

22/08/2024

11:13:46

BST

74

74.8000

XLON

1055188244766311

22/08/2024

11:19:41

BST

71

74.7800

XLON

1055188244766500

22/08/2024

11:31:44

BST

51

74.8000

XLON

1055188244766830

22/08/2024

11:37:20

BST

18

74.7600

XLON

1055188244767038

22/08/2024

11:37:20

BST

32

74.7600

XLON

1055188244767039

22/08/2024

11:42:36

BST

64

74.7200

XLON

1055188244767229

22/08/2024

11:45:48

BST

50

74.6800

XLON

1055188244767374

22/08/2024

11:54:33

BST

42

74.6800

XLON

1055188244767675

22/08/2024

11:54:33

BST

19

74.6800

XLON

1055188244767676

22/08/2024

11:55:32

BST

47

74.6800

XLON

1055188244767703

22/08/2024

11:59:40

BST

58

74.6400

XLON

1055188244767874

22/08/2024

12:06:22

BST

60

74.6400

XLON

1055188244768100

22/08/2024

12:10:30

BST

65

74.6600

XLON

1055188244768254

22/08/2024

12:19:22

BST

55

74.6800

XLON

1055188244768632

22/08/2024

12:27:08

BST

46

74.6800

XLON

1055188244768830

22/08/2024

12:27:39

BST

52

74.6400

XLON

1055188244768844

22/08/2024

12:36:52

BST

51

74.6600

XLON

1055188244769018

22/08/2024

12:43:17

BST

60

74.6200

XLON

1055188244769207

22/08/2024

12:47:00

BST

26

74.5800

XLON

1055188244769372

22/08/2024

12:47:00

BST

24

74.5800

XLON

1055188244769373

22/08/2024

13:01:00

BST

67

74.6200

XLON

1055188244769731

22/08/2024

13:08:18

BST

47

74.5800

XLON

1055188244769917

22/08/2024

13:25:30

BST

49

74.6000

XLON

1055188244770527

22/08/2024

13:25:30

BST

46

74.6000

XLON

1055188244770528

22/08/2024

13:41:18

BST

44

74.6000

XLON

1055188244771317

22/08/2024

13:41:18

BST

48

74.6000

XLON

1055188244771318

22/08/2024

13:50:46

BST

14

74.6400

XLON

1055188244771739

22/08/2024

13:50:46

BST

82

74.6400

XLON

1055188244771740

22/08/2024

13:52:37

BST

50

74.6800

XLON

1055188244771818

22/08/2024

13:52:37

BST

42

74.6800

XLON

1055188244771819

22/08/2024

13:52:46

BST

92

74.6400

XLON

1055188244771854

22/08/2024

14:04:50

BST

95

74.6400

XLON

1055188244772131

22/08/2024

14:12:45

BST

46

74.6400

XLON

1055188244772464

22/08/2024

14:16:12

BST

91

74.6600

XLON

1055188244772571

22/08/2024

14:21:34

BST

52

74.6400

XLON

1055188244772805

22/08/2024

14:26:38

BST

69

74.6400

XLON

1055188244773035

22/08/2024

14:30:34

BST

79

74.6800

XLON

1055188244773343

22/08/2024

14:30:36

BST

47

74.6800

XLON

1055188244773351

22/08/2024

14:30:36

BST

3

74.6800

XLON

1055188244773352

22/08/2024

14:31:14

BST

10

74.6400

XLON

1055188244773385

22/08/2024

14:31:14

BST

44

74.6400

XLON

1055188244773386

22/08/2024

14:32:11

BST

10

74.6000

XLON

1055188244773415

22/08/2024

14:32:50

BST

36

74.6000

XLON

1055188244773456

22/08/2024

14:43:29

BST

59

74.5800

XLON

1055188244773784

22/08/2024

14:43:44

BST

70

74.5400

XLON

1055188244773796

22/08/2024

14:47:15

BST

29

74.5400

XLON

1055188244774029

22/08/2024

14:47:46

BST

17

74.5400

XLON

1055188244774045

22/08/2024

14:51:00

BST

49

74.5000

XLON

1055188244774119

22/08/2024

14:52:59

BST

65

74.5200

XLON

1055188244774171

22/08/2024

14:56:19

BST

12

74.5200

XLON

1055188244774300

22/08/2024

14:56:19

BST

38

74.5200

XLON

1055188244774301

22/08/2024

15:21:33

BST

91

74.6000

XLON

1055188244775728

22/08/2024

15:26:17

BST

96

74.6200

XLON

1055188244775957

22/08/2024

15:26:44

BST

77

74.5600

XLON

1055188244776008

22/08/2024

15:29:17

BST

51

74.5200

XLON

1055188244776237

22/08/2024

15:30:01

BST

95

74.5600

XLON

1055188244776400

22/08/2024

15:31:36

BST

92

74.6000

XLON

1055188244776843

22/08/2024

15:35:27

BST

96

74.6000

XLON

1055188244777502

22/08/2024

15:37:14

BST

93

74.7000

XLON

1055188244777695

22/08/2024

15:37:40

BST

10

74.7000

XLON

1055188244777715

22/08/2024

15:37:40

BST

81

74.7000

XLON

1055188244777716

22/08/2024

15:38:24

BST

92

74.6400

XLON

1055188244777844

22/08/2024

15:42:05

BST

91

74.6400

XLON

1055188244778169

22/08/2024

15:46:51

BST

6

74.7000

XLON

1055188244778830

22/08/2024

15:46:51

BST

87

74.7000

XLON

1055188244778831

22/08/2024

15:47:18

BST

91

74.6400

XLON

1055188244778873

22/08/2024

15:47:18

BST

95

74.6400

XLON

1055188244778880

22/08/2024

15:47:34

BST

78

74.6000

XLON

1055188244778893

22/08/2024

15:47:34

BST

17

74.6000

XLON

1055188244778894

22/08/2024

15:48:16

BST

63

74.6000

XLON

1055188244778963

22/08/2024

15:50:17

BST

63

74.5600

XLON

1055188244779276

22/08/2024

15:50:17

BST

33

74.5600

XLON

1055188244779277

22/08/2024

15:51:07

BST

85

74.5200

XLON

1055188244779410

22/08/2024

15:52:42

BST

51

74.5200

XLON

1055188244779538

22/08/2024

15:57:31

BST

91

74.6200

XLON

1055188244779882

22/08/2024

16:01:32

BST

72

74.5600

XLON

1055188244780193

22/08/2024

16:01:33

BST

38

74.5200

XLON

1055188244780199

22/08/2024

16:01:33

BST

35

74.5200

XLON

1055188244780200

22/08/2024

16:06:28

BST

93

74.4600

XLON

1055188244780491

22/08/2024

16:11:23

BST

95

74.4400

XLON

1055188244780899

22/08/2024

16:11:34

BST

92

74.4000

XLON

1055188244780914

22/08/2024

16:12:55

BST

94

74.4200

XLON

1055188244781063

22/08/2024

16:14:29

BST

68

74.4200

XLON

1055188244781143

22/08/2024

16:14:29

BST

27

74.4200

XLON

1055188244781144

22/08/2024

16:17:26

BST

94

74.4200

XLON

1055188244781424

22/08/2024

16:18:32

BST

2

74.3800

XLON

1055188244781490

22/08/2024

16:18:32

BST

92

74.3800

XLON

1055188244781491

22/08/2024

16:30:40

BST

15

74.5800

XLON

1055188244783276

22/08/2024

16:30:40

BST

31

74.5800

XLON

1055188244783277

22/08/2024

16:31:05

BST

92

74.5600

XLON

1055188244783312

22/08/2024

16:35:20

BST

18

74.6000

XLON

1055188244783594

22/08/2024

16:35:20

BST

74

74.6000

XLON

1055188244783595

22/08/2024

16:36:59

BST

94

74.6200

XLON

1055188244783657

22/08/2024

16:38:45

BST

92

74.6200

XLON

1055188244783750

22/08/2024

16:42:11

BST

92

74.6200

XLON

1055188244783945

22/08/2024

16:42:11

BST

22

74.6400

XLON

1055188244783947

22/08/2024

16:42:11

BST

24

74.6400

XLON

1055188244783948

22/08/2024

16:46:15

BST

20

74.6200

XLON

1055188244784306

22/08/2024

16:46:15

BST

13

74.6200

XLON

1055188244784307

22/08/2024

16:46:17

BST

8

74.6200

XLON

1055188244784347

22/08/2024

16:46:30

BST

11

74.6200

XLON

1055188244784377

22/08/2024

16:46:47

BST

10

74.6000

XLON

1055188244784415

22/08/2024

16:46:47

BST

85

74.6000

XLON

1055188244784416

22/08/2024

16:48:20

BST

93

74.5600

XLON

1055188244784520

22/08/2024

16:49:24

BST

92

74.5200

XLON

1055188244784601

22/08/2024

16:52:27

BST

94

74.5200

XLON

1055188244784787

22/08/2024

16:54:37

BST

9

74.5400

XLON

1055188244785042

22/08/2024

16:55:01

BST

95

74.5400

XLON

1055188244785064

22/08/2024

16:56:11

BST

91

74.5600

XLON

1055188244785193

22/08/2024

16:56:29

BST

92

74.5800

XLON

1055188244785214

22/08/2024

16:56:53

BST

96

74.5400

XLON

1055188244785225

22/08/2024

16:57:13

BST

94

74.5600

XLON

1055188244785279

22/08/2024

16:58:29

BST

95

74.5600

XLON

1055188244785414

22/08/2024

17:04:15

BST

91

74.6200

XLON

1055188244785900

22/08/2024

17:09:03

BST

96

74.7000

XLON

1055188244786502

22/08/2024

17:09:03

BST

60

74.7200

XLON

1055188244786506

22/08/2024

17:09:03

BST

13

74.7200

XLON

1055188244786507

22/08/2024

17:09:03

BST

44

74.7200

XLON

1055188244786508

22/08/2024

17:09:03

BST

3

74.7200

XLON

1055188244786509

22/08/2024

17:09:59

BST

46

74.7400

XLON

1055188244786609

22/08/2024

17:10:26

BST

92

74.7200

XLON

1055188244786680

22/08/2024

17:12:13

BST

11

74.7600

XLON

1055188244786864

22/08/2024

17:12:13

BST

35

74.7600

XLON

1055188244786865

22/08/2024

17:13:59

BST

13

74.8000

XLON

1055188244787121

22/08/2024

17:13:59

BST

51

74.8000

XLON

1055188244787122

22/08/2024

17:13:59

BST

19

74.8000

XLON

1055188244787123

22/08/2024

17:13:59

BST

11

74.8000

XLON

1055188244787124

22/08/2024

17:13:59

BST

12

74.8000

XLON

1055188244787125

22/08/2024

17:14:24

BST

23

74.8200

XLON

1055188244787183

22/08/2024

17:14:24

BST

23

74.8200

XLON

1055188244787184

22/08/2024

17:15:32

BST

93

74.7800

XLON

1055188244787276

22/08/2024

17:15:32

BST

60

74.7800

XLON

1055188244787280

22/08/2024

17:15:32

BST

51

74.8000

XLON

1055188244787281

22/08/2024

17:15:32

BST

8

74.8000

XLON

1055188244787282

22/08/2024

17:16:41

BST

69

74.7800

XLON

1055188244787633

22/08/2024

17:18:31

BST

6

74.8200

XLON

1055188244787863

22/08/2024

17:18:31

BST

49

74.8200

XLON

1055188244787864

22/08/2024

17:18:44

BST

94

74.8000

XLON

1055188244787875

22/08/2024

17:19:13

BST

48

74.7800

XLON

1055188244787944

22/08/2024

17:19:26

BST

46

74.7800

XLON

1055188244788042

22/08/2024

17:20:09

BST

66

74.7400

XLON

1055188244788162

22/08/2024

17:20:09

BST

27

74.7400

XLON

1055188244788163

22/08/2024

17:22:09

BST

11

74.7000

XLON

1055188244788715

22/08/2024

17:22:09

BST

12

74.7000

XLON

1055188244788716

22/08/2024

17:22:09

BST

40

74.7000

XLON

1055188244788717

22/08/2024

17:24:25

BST

52

74.6800

XLON

1055188244788961

22/08/2024

17:24:26

BST

64

74.7000

XLON

1055188244788973

22/08/2024

17:24:27

BST

33

74.7200

XLON

1055188244788975

22/08/2024

17:24:27

BST

11

74.7200

XLON

1055188244788976

22/08/2024

17:24:27

BST

13

74.7200

XLON

1055188244788977

22/08/2024

17:24:27

BST

23

74.7200

XLON

1055188244788978

22/08/2024

17:24:27

BST

18

74.7200

XLON

1055188244788979

22/08/2024

17:25:50

BST

92

74.7000

XLON

1055188244789290

22/08/2024

17:26:03

BST

13

74.7000

XLON

1055188244789351

22/08/2024

17:26:18

BST

57

74.7000

XLON

1055188244789411

22/08/2024

17:27:01

BST

12

74.7000

XLON

1055188244789504

22/08/2024

17:28:51

BST

94

74.7400

XLON

1055188244789833

22/08/2024

17:28:51

BST

35

74.7400

XLON

1055188244789837

22/08/2024

17:29:00

BST

17

74.7400

XLON

1055188244789860

22/08/2024

17:29:00

BST

64

74.7400

XLON

1055188244789861

22/08/2024

17:29:00

BST

39

74.7400

XLON

1055188244789862

22/08/2024

17:29:00

BST

11

74.7400

XLON

1055188244789863

22/08/2024

17:29:00

BST

11

74.7400

XLON

1055188244789864

22/08/2024

17:29:00

BST

17

74.7400

XLON

1055188244789865

22/08/2024

17:29:00

BST

15

74.7400

XLON

1055188244789866

22/08/2024

17:29:27

BST

91

74.7000

XLON

1055188244790037

22/08/2024

17:29:31

BST

15

74.7000

XLON

1055188244790068

22/08/2024

17:29:31

BST

12

74.7000

XLON

1055188244790069

22/08/2024

17:29:31

BST

24

74.7000

XLON

1055188244790070

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SOURCE: InterContinental Hotels Group PLC



View the original press release on accesswire.com

FAQ

How many shares did IHG purchase on August 22, 2024?

IHG purchased 10,000 of its ordinary shares on August 22, 2024.

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

The average price paid per share in IHG's recent stock buyback was £74.6549.

How many ordinary shares does IHG have in issue after the recent purchase?

After the recent purchase, IHG has 159,758,468 ordinary shares in issue, excluding 7,006,782 held in treasury.

What does IHG plan to do with the shares it purchased?

IHG intends to cancel the purchased shares.

InterContinental Hotels Group Plc

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19.54B
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