InterContinental Hotels Group PLC Announces Transaction in Own Shares – Oct 4

Rhea-AI Summary

InterContinental Hotels Group announced the purchase of 118,611 ordinary shares at an average price of £43.1881 each on October 3, 2022, through Goldman Sachs International. This buyback, authorized by shareholders on May 6, 2022, aims to bolster the company's capital structure. Following this transaction, IHG holds 7,800,685 shares in treasury, with a total of 179,917,035 shares issued. The purchase reflects the company's strategy to manage its share capital effectively and maximize shareholder value.

Positive

• Repurchased 118,611 shares, signaling confidence in the company's value.
• Average purchase price of £43.1881 aligns with market strategy.

Negative

• None.

LONDON, UK / ACCESSWIRE / October 4, 2022 / The Company announces that on 03 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: 03 October 2022

Aggregate number of ordinary shares purchased: 118,611

Lowest price paid per share: £ 42.6900

Highest price paid per share: £ 43.6500

Average price paid per share: £ 43.1881

The Company intends to hold the purchased shares in treasury.

Following the above transaction, the Company holds 7,800,685 of its ordinary shares in treasury and has 179,917,035 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: 118,611 (ISIN: GB00BHJYC057)

Date of purchases: 03 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/6362B_1-2022-10-3.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/718682/InterContinental-Hotels-Group-PLC-Announces-Transaction-in-Own-Shares-Oct-4

FAQ

What shares did IHG purchase on October 3, 2022?

IHG purchased 118,611 ordinary shares through Goldman Sachs International.

What was the average price paid per share by IHG?

The average price paid per share was £43.1881.

How many shares does IHG currently hold in treasury?

After the purchase, IHG holds 7,800,685 shares in treasury.

What is the significance of IHG's share buyback?

The share buyback is part of IHG's strategy to manage share capital and enhance shareholder value.

When was the IHG share purchase authorized?

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