InterContinental Hotels Group PLC Announces Transaction in Own Shares - Oct 17

Rhea-AI Summary

InterContinental Hotels Group PLC (NYSE:IHG) announced the purchase of 295,318 ordinary shares on October 14, 2022. This repurchase was conducted via Goldman Sachs International and follows the authority granted at the Annual General Meeting on May 6, 2022. The shares were bought at an average price of £44.7353, with the highest and lowest prices being £45.1900 and £44.2600 respectively. The company plans to cancel these shares, resulting in 8,156,782 treasury shares and 178,813,264 shares in issue.

Positive

• Share repurchase of 295,318 shares improves shareholder value.
• Average price paid per share (£44.7353) indicates strategic buyback timing.

Negative

• None.

Purchase of own shares

LONDON, UK / ACCESSWIRE / October 17, 2022 / InterContinental Hotels Group PLC (the Company) (NYSE:IHG) The Company announces that on 14 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:	14 October 2022
Aggregate number of ordinary shares purchased:	295,318
Lowest price paid per share:	£ 44.2600
Highest price paid per share:	£ 45.1900
Average price paid per share:	£ 44.7353

The Company intends to cancel the purchased shares.

Following the above transaction, the Company holds 8,156,782 of its ordinary shares in treasury and has 178,813,264 shares in issue (excluding treasury shares).

A full breakdown of the individual purchases by GSI is attached to this announcement.

http://www.rns-pdf.londonstockexchange.com/rns/0130D_1-2022-10-14.pdf

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: 295,318 (ISIN: GB00BHJYC057)

Date of purchases: 14 October 2022

Investment firm: GSI

Aggregated information:

	London Stock Exchange	Cboe BXE	Cboe CXE	Turquoise
Number of ordinary shares purchased	156,552	61,272	60,703	16,791
Highest price paid (per ordinary share)	£ 45.1900	£ 45.1800	£ 45.1800	£ 45.1700
Lowest price paid (per ordinary share)	£ 44.2600	£ 44.2900	£ 44.2800	£ 44.3100
Volume weighted average price paid(per ordinary share)	£ 44.7288	£ 44.7402	£ 44.7559	£ 44.7029

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/720643/InterContinental-Hotels-Group-PLC-Announces-Transaction-in-Own-Shares--Oct-17

FAQ

When did InterContinental Hotels Group purchase its own shares?

InterContinental Hotels Group purchased its own shares on October 14, 2022.

How many shares did IHG buy back?

IHG bought back 295,318 ordinary shares.

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

The average price paid per share was £44.7353.

What will happen to the shares purchased by IHG?

The purchased shares will be canceled.

How many shares does IHG have in treasury after the buyback?

After the buyback, IHG holds 8,156,782 shares in treasury.