InterContinental Hotels Group PLC Announces Transaction in Own Shares - Oct 31

Rhea-AI Summary

InterContinental Hotels Group PLC announced the purchase of 256,348 ordinary shares on 28 October 2022, executed by Goldman Sachs International on the London Stock Exchange. The shares were acquired at an average price of £46.63, with a lowest price of £46.31 and a highest price of £47.00. Following this transaction, the company has 176,983,415 shares in circulation, excluding treasury shares. The intention is to cancel the repurchased shares, aligning with the authority granted in its Annual General Meeting held on 6 May 2022.

Positive

• Completion of a share buyback of 256,348 shares at an average price of £46.63.
• Plans to cancel the repurchased shares, potentially increasing shareholder value.

Negative

• None.

Purchase of own shares

LONDON, UK / ACCESSWIRE / October 31, 2022 / The Company announces that on 28 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: 28 October 2022

Aggregate number of ordinary shares purchased: 256,348

Lowest price paid per share: £ 46.3100

Highest price paid per share: £ 47.0000

Average price paid per share: £ 46.6333

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 176,983,415 ordinary shares in issue (excluding 8,156,782 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: Amy Shields (+44 (0)7881 035 550); Dan Winter (+44 (0)7423 793 352)

Schedule of Purchases

Shares purchased: 256,348 (ISIN: GB00BHJYC057)

Date of purchases: 28 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/5651E_1-2022-10-28.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/723008/InterContinental-Hotels-Group-PLC-Announces-Transaction-in-Own-Shares--Oct-31

FAQ

What is the significance of IHG's share buyback on October 28, 2022?

The share buyback of 256,348 shares at £46.63 each indicates IHG's strategy to return value to shareholders.

How many ordinary shares does IHG have after the recent buyback?

After the buyback, IHG has 176,983,415 ordinary shares in issue.

Who executed the share buyback for IHG in October 2022?

Goldman Sachs International executed the share buyback for IHG.

What was the highest price paid per share during IHG's buyback?

The highest price paid per share during the buyback was £47.00.

When did IHG announce the share buyback transaction?

IHG announced the share buyback transaction on October 31, 2022.