InterContinental Hotels Group PLC Announces Transaction in Own Shares - May 29
On May 29, 2024, InterContinental Hotels Group (IHG) announced the purchase of 37,503 of its ordinary shares at an average price of £78.4434 per share. The transaction, conducted through Goldman Sachs International (GSI) on May 28, 2024, follows the authority granted at the Annual General Meeting on May 3, 2024. The company intends to cancel the purchased shares, reducing the total number of shares in issue to 162,192,826, excluding 7,006,782 treasury shares.
- IHG purchased 37,503 shares, potentially boosting shareholder value.
- Average purchase price of £78.4434 indicates strong market confidence.
- Reduction in total shares outstanding could enhance earnings per share (EPS).
- Conducted through reputable firm Goldman Sachs International, ensuring transparency.
- Cost of repurchase could impact short-term liquidity.
- Share buybacks may signal lack of profitable investment opportunities.
- Cancelling shares does not provide immediate tangible benefits to shareholders.
LONDON, UNITED KINGDOM / ACCESSWIRE / May 29, 2024 / Purchase of own shares
The Company announces that on 28 May 2024 it purchased the following number of its ordinary shares of 20340/399 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: | 28 May 2024 |
| Aggregate number of ordinary shares purchased: | 37,503 |
| Lowest price paid per share: | £ 78.1200 |
| Highest price paid per share: | £ 78.8800 |
| Average price paid per share: | £ 78.4434 |
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 162,192,826 ordinary shares in issue (excluding 7,006,782 held in treasury).
A full breakdown of the individual purchases by GSI is included below.
http://www.rns-pdf.londonstockexchange.com/rns/1687Q_1-2024-5-28.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: Mike Ward (+44 (0)7795 257 407)
Schedule of Purchases
Shares purchased: 37,503 (ISIN: GB00BHJYC057)
Date of purchases: 28 May 2024
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |
Number of ordinary shares purchased | 37,503 | |||
Highest price paid (per ordinary share) | £ 78.8800 | |||
Lowest price paid (per ordinary share) | £ 78.1200 | |||
Volume weighted average price paid(per ordinary share) | £ 78.4434 |
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SOURCE: InterContinental Hotels Group PLC
View the original press release on accesswire.com
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