InterContinental Hotels Group PLC Announces Transaction in Own Shares - Oct 27
InterContinental Hotels Group PLC announced the purchase of 264,429 ordinary shares on 26 October 2022, as per shareholder authority from the Annual General Meeting on 6 May 2022. The shares were bought through Goldman Sachs International, with the lowest price at £45.6600 and highest at £46.5000, averaging £46.1440. The intention is to cancel these shares. Post-transaction, 177,499,178 ordinary shares remain in circulation, excluding 8,156,782 in treasury.
- Share buyback reduces overall share count, potentially increasing earnings per share.
- Purchase executed at an average price below the current market price, indicating a value play.
- The buyback may indicate a lack of alternative investment opportunities.
InterContinental Hotels Group PLC (the Company)
Purchase of own shares
LONDON, UK / ACCESSWIRE / October 27, 2022 / The Company announces that on 26 October 2022 it purchased the following number of its ordinary shares of 20340/399pence 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: | 26 October 2022 |
Aggregate number of ordinary shares purchased: | 264,429 |
Lowest price paid per share: | £ 45.6600 |
Highest price paid per share: | £ 46.5000 |
Average price paid per share: | £ 46.1440 |
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 177,499,178 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); Claire Scicluna (+44 (0)7776 778 808)
Schedule of Purchases
Shares purchased: 264,429 (ISIN: GB00BHJYC057)
Date of purchases: 26 October 2022
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |
Number of ordinary shares purchased | 144,000 | 59,513 | 48,916 | 12,000 |
Highest price paid (per ordinary share) | £ 46.5000 | £ 46.4900 | £ 46.5000 | £ 46.4700 |
Lowest price paid (per ordinary share) | £ 45.6600 | £ 45.6800 | £ 45.6800 | £ 45.6900 |
Volume weighted average price paid(per ordinary share) | £ 46.1459 | £ 46.1410 | £ 46.1452 | £ 46.1317 |
Click on, or paste the following link into your web browser, to view full announcement:
http://www.rns-pdf.londonstockexchange.com/rns/2561E_1-2022-10-26.pdf
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SOURCE: InterContinental Hotels Group PLC
View source version on accesswire.com:
https://www.accesswire.com/722599/InterContinental-Hotels-Group-PLC-Announces-Transaction-in-Own-Shares--Oct-27
FAQ
What was the purpose of IHG's share buyback announcement on October 27, 2022?
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