InterContinental Hotels Group PLC Announces Transaction in Own Shares - 21 May

Rhea-AI Summary

On 21 May 2024, InterContinental Hotels Group (IHG) announced the repurchase of 54,409 of its ordinary shares on the London Stock Exchange through Goldman Sachs International. The shares were bought at prices ranging from £78.30 to £79.52, with an average price of £78.95 per share. This repurchase was authorized by shareholders during the Annual General Meeting on 3 May 2024 and follows instructions issued on 20 February 2024. Post-transaction, IHG has 162,405,461 ordinary shares in circulation, excluding 7,006,782 shares held in treasury. The company intends to cancel the repurchased shares.

Positive

• IHG repurchased 54,409 shares, potentially boosting earnings per share (EPS) by reducing the share count.
• The repurchase was done at a favorable average price of £78.95, potentially indicating confidence in the company's valuation.
• Post repurchase, the company now has 162,405,461 shares outstanding, which could improve metrics like EPS and return on equity (ROE).

Negative

• The share buyback reduces cash reserves which could have been used for other investments or to strengthen the balance sheet.
• The cancellation of purchased shares could limit future capital restructuring options.

LONDON, UK / ACCESSWIRE / May 21, 2024 / The Company announces that on 20 May 2024 it purchased the following number of its ordinary shares of 20 ^340/399 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:	20 May 2024
Aggregate number of ordinary shares purchased:	54,409
Lowest price paid per share:	£ 78.3000
Highest price paid per share:	£ 79.5200
Average price paid per share:	£ 78.9501

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 162,405,461 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: 54,409 (ISIN: GB00BHJYC057)

Date of purchases: 20 May 2024

Investment firm: GSI

Aggregated information:

	London Stock Exchange	Cboe BXE	Cboe CXE	Turquoise
Number of ordinary shares purchased	54,409
Highest price paid (per ordinary share)	£ 79.5200
Lowest price paid (per ordinary share)	£ 78.3000
Volume weighted average price paid(per ordinary share)	£ 78.9501

Detailed information:

Transaction Date	Time	Time Zone	Volume	Price (GBP)	Trading Venue	Transaction ID
20/05/2024	09:45:00	BST	45	78.3400	XLON	997051567445449
20/05/2024	09:48:00	BST	53	78.3800	XLON	997051567445644
20/05/2024	09:48:10	BST	9	78.3400	XLON	997051567445659
20/05/2024	09:48:10	BST	44	78.3400	XLON	997051567445660
20/05/2024	09:48:50	BST	53	78.3000	XLON	997051567445711
20/05/2024	09:57:25	BST	50	78.3800	XLON	997051567446249
20/05/2024	10:01:12	BST	54	78.4200	XLON	997051567446492
20/05/2024	10:01:12	BST	40	78.4400	XLON	997051567446496
20/05/2024	10:01:12	BST	37	78.4400	XLON	997051567446497
20/05/2024	10:01:12	BST	27	78.4400	XLON	997051567446498
20/05/2024	10:01:12	BST	35	78.4400	XLON	997051567446499
20/05/2024	10:01:12	BST	40	78.4400	XLON	997051567446500
20/05/2024	10:01:20	BST	54	78.3800	XLON	997051567446528
20/05/2024	10:01:20	BST	54	78.4000	XLON	997051567446533
20/05/2024	10:01:22	BST	9	78.4200	XLON	997051567446548
20/05/2024	10:01:28	BST	45	78.4200	XLON	997051567446550
20/05/2024	10:01:28	BST	50	78.4200	XLON	997051567446551
20/05/2024	10:01:40	BST	54	78.3800	XLON	997051567446582
20/05/2024	10:01:48	BST	15	78.4800	XLON	997051567446601
20/05/2024	10:01:50	BST	35	78.4800	XLON	997051567446604
20/05/2024	10:01:50	BST	35	78.4800	XLON	997051567446605
20/05/2024	10:01:50	BST	42	78.4800	XLON	997051567446606
20/05/2024	10:02:05	BST	35	78.4800	XLON	997051567446612
20/05/2024	10:02:05	BST	35	78.4800	XLON	997051567446613
20/05/2024	10:02:05	BST	42	78.4800	XLON	997051567446614
20/05/2024	10:02:07	BST	38	78.4800	XLON	997051567446615
20/05/2024	10:02:07	BST	42	78.4800	XLON	997051567446616
20/05/2024	10:02:07	BST	45	78.4800	XLON	997051567446617
20/05/2024	10:04:10	BST	54	78.4400	XLON	997051567446783
20/05/2024	10:06:52	BST	54	78.5000	XLON	997051567446984
20/05/2024	10:09:52	BST	29	78.5800	XLON	997051567447218
20/05/2024	10:09:52	BST	42	78.5800	XLON	997051567447219
20/05/2024	10:09:52	BST	21	78.5800	XLON	997051567447220
20/05/2024	10:10:20	BST	54	78.5400	XLON	997051567447263
20/05/2024	10:11:04	BST	42	78.6000	XLON	997051567447347
20/05/2024	10:11:04	BST	42	78.6000	XLON

FAQ

What was the date of the IHG share repurchase?

The share repurchase occurred on 20 May 2024.

How many shares did IHG repurchase on 20 May 2024?

IHG repurchased 54,409 shares.

What was the average price paid per share by IHG during the repurchase?

The average price paid per share was £78.95.

What is the current number of IHG ordinary shares in circulation after the buyback?

After the buyback, IHG has 162,405,461 ordinary shares in circulation, excluding 7,006,782 shares held in treasury.

Which investment firm carried out the IHG share repurchase?

Goldman Sachs International carried out the share repurchase.

What was the highest price paid per share by IHG in the repurchase?

The highest price paid per share was £79.52.

What was the lowest price paid per share by IHG in the repurchase?

The lowest price paid per share was £78.30.

What will IHG do with the repurchased shares?

IHG intends to cancel the repurchased shares.

How many shares does IHG hold in treasury post-repurchase?

IHG holds 7,006,782 shares in treasury post-repurchase.

What was the purpose of IHG's share repurchase?

The repurchase was part of a program authorized by shareholders to manage the company's share capital.