InterContinental Hotels Group PLC Announces Transaction in Own Shares - Oct 7

Rhea-AI Summary

InterContinental Hotels Group announced the purchase of 7,000 ordinary shares at an average price of £44.7303 on October 6, 2022, through Goldman Sachs International. The transaction was authorized by shareholders during the AGM on May 6, 2022. Post-purchase, the company holds 8,032,401 shares in treasury and has 179,685,319 shares in issue. This buyback aligns with the company's strategy to manage its share capital.

Positive

• Share buyback of 7,000 shares signals confidence in share value.
• Average purchase price of £44.7303 reflects a strategic investment.

Negative

• None.

LONDON, UK / ACCESSWIRE / October 7, 2022 / The Company announces that on 06 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: 06 October 2022

Aggregate number of ordinary shares purchased: 7,000

Lowest price paid per share: £ 44.2800

Highest price paid per share: £ 45.2900

Average price paid per share: £ 44.7303

The Company intends to hold the purchased shares in treasury.

Following the above transaction, the Company holds 8,032,401 of its ordinary shares in treasury and has 179,685,319 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: 7,000 (ISIN: GB00BHJYC057)
Date of purchases: 06 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/0934C_1-2022-10-6.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/719442/InterContinental-Hotels-Group-PLC-Announces-Transaction-in-Own-Shares--Oct-7

FAQ

What was the purpose of InterContinental Hotels Group's share buyback on October 6, 2022?

The share buyback aimed to manage the company's share capital and demonstrate confidence in its value.

How many shares did InterContinental Hotels Group purchase on October 6, 2022?

InterContinental Hotels Group purchased 7,000 ordinary shares on October 6, 2022.

What was the average price paid per share by InterContinental Hotels Group during the buyback?

The average price paid per share during the buyback was £44.7303.

How many shares does InterContinental Hotels Group hold in treasury after the buyback?

After the buyback, InterContinental Hotels Group holds 8,032,401 shares in treasury.

Who conducted the share buyback for InterContinental Hotels Group?

The share buyback was conducted through Goldman Sachs International.