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InterContinental Hotels Group PLC Announces Transaction in Own Shares - May 20

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InterContinental Hotels Group PLC (IHG) announced the repurchase of 59,849 of its ordinary shares on the London Stock Exchange on May 17, 2024. The shares were bought at an average price of £78.0589 per share, with the lowest price being £77.92 and the highest at £78.28. This transaction follows the authority granted by shareholders during the company's Annual General Meeting on May 3, 2024. The repurchased shares will be canceled, bringing the total number of shares in issue to 162,459,870, excluding 7,006,782 treasury shares. The shares were bought through Goldman Sachs International. Detailed transaction data is available for review.

Positive
  • Repurchase reduces the number of outstanding shares, potentially increasing the value per share.
  • The transaction was completed at a relatively high average price, indicating confidence in the company's valuation.
  • Cancellation of shares can improve earnings per share (EPS) by reducing the denominator.
Negative
  • The use of cash for share repurchase may limit available funds for other investments or operational needs.
  • Reduction in cash reserves could impact financial flexibility.

Purchase of own shares

LONDON, UK / ACCESSWIRE / May 20, 2024 / The Company announces that on 17 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:17 May 2024
Aggregate number of ordinary shares purchased:59,849
Lowest price paid per share:£ 77.9200
Highest price paid per share:£ 78.2800
Average price paid per share:£ 78.0589

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 162,459,870 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: 59,849 (ISIN: GB00BHJYC057)

Date of purchases: 17 May 2024

Investment firm: GSI

Aggregated information:

London Stock Exchange

Cboe BXE

Cboe CXE

Turquoise

Number of ordinary shares purchased

59,849

Highest price paid (per ordinary share)

£ 78.2800

Lowest price paid (per ordinary share)

£ 77.9200

Volume weighted average price paid(per ordinary share)

£ 78.0589

Detailed information:

Transaction Date

Time

Time Zone

Volume

Price (GBP)

Trading Venue

Transaction ID

17/05/2024

10:25:38

BST

116

77.9200

XLON

995196141576533

17/05/2024

10:41:40

BST

113

77.9600

XLON

995196141577960

17/05/2024

10:42:09

BST

60

77.9400

XLON

995196141577979

17/05/2024

10:42:09

BST

136

77.9400

XLON

995196141577980

17/05/2024

10:45:02

BST

45

77.9200

XLON

995196141578137

17/05/2024

10:45:02

BST

3

77.9200

XLON

995196141578138

17/05/2024

10:52:20

BST

9

77.9600

XLON

995196141578615

17/05/2024

10:52:20

BST

51

77.9600

XLON

995196141578616

17/05/2024

10:52:20

BST

49

77.9600

XLON

995196141578618

17/05/2024

11:01:15

BST

108

77.9600

XLON

995196141579293

17/05/2024

11:03:19

BST

108

78.0000

XLON

995196141579445

17/05/2024

11:09:41

BST

626

78.0000

XLON

995196141579916

17/05/2024

11:09:43

BST

277

78.0100

XLON

995196141579926

17/05/2024

11:15:20

BST

484

78.0500

XLON

995196141580619

17/05/2024

11:15:21

BST

153

78.0400

XLON

995196141580627

17/05/2024

11:15:21

BST

44

78.0000

XLON

995196141580645

17/05/2024

11:15:21

BST

43

78.0200

XLON

995196141580648

17/05/2024

11:15:27

BST

169

78.0400

XLON

995196141580902

17/05/2024

11:15:27

BST

176

78.0000

XLON

995196141580904

17/05/2024

11:15:27

BST

86

78.0000

XLON

995196141580905

17/05/2024

11:15:29

BST

26

78.0000

XLON

995196141580957

17/05/2024

11:15:31

BST

228

78.0300

XLON

995196141581054

17/05/2024

11:15:39

BST

75

78.0300

XLON

995196141581126

17/05/2024

11:15:42

BST

81

78.0100

XLON

995196141581171

17/05/2024

11:16:22

BST

55

77.9800

XLON

995196141581426

17/05/2024

11:16:22

BST

12

77.9800

XLON

995196141581427

17/05/2024

11:16:32

BST

43

77.9800

XLON

995196141581463

17/05/2024

11:16:32

BST

40

77.9800

XLON

995196141581464

17/05/2024

11:16:32

BST

22

77.9800

XLON

995196141581467

17/05/2024

11:16:32

BST

67

77.9800

XLON

995196141581468

17/05/2024

11:17:17

BST

87

78.0100

XLON

995196141581641

17/05/2024

11:17:50

BST

40

78.0000

XLON

995196141581698

17/05/2024

11:17:50

BST

103

78.0000

XLON

995196141581699

17/05/2024

11:17:50

BST

22

78.0000

XLON

995196141581702

17/05/2024

11:17:50

BST

24

78.0000

XLON

995196141581703

17/05/2024

11:18:30

BST

13

77.9800

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FAQ

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

The average price paid per share was £78.0589.

How many shares did IHG repurchase on May 17, 2024?

IHG repurchased 59,849 shares.

What is the highest price IHG paid per share in the recent buyback?

The highest price paid per share was £78.28.

What will happen to the repurchased IHG shares?

The repurchased shares will be canceled.

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

After the repurchase, IHG has 162,459,870 ordinary shares in issue, excluding treasury shares.

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