InterContinental Hotels Group PLC Announces Transaction in Own Shares - Oct 25

Rhea-AI Summary

InterContinental Hotels Group announced the purchase of 279,818 ordinary shares at an average price of £45.7069 on October 24, 2022, as part of a buyback program approved at the Annual General Meeting on May 6, 2022. The shares were bought through Goldman Sachs International on the London Stock Exchange. Following this transaction, the company will cancel the purchased shares, leaving 178,037,599 shares in circulation. The lowest and highest prices paid during the buyback were £44.8400 and £46.3300, respectively.

Positive

• Share buyback reflects confidence in the company's value.
• Reduction in total shares outstanding may enhance earnings per share.

Negative

• None.

Purchase of own shares

LONDON, UK / ACCESSWIRE / October 25, 2022 / The Company announces that on 24 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:	24 October 2022
Aggregate number of ordinary shares purchased:	279,818
Lowest price paid per share:	£ 44.8400
Highest price paid per share:	£ 46.3300
Average price paid per share:	£ 45.7069

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 178,037,599 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: 279,818 (ISIN: GB00BHJYC057)

Date of purchases: 24 October 2022

Investment firm: GSI

Aggregated information:

	London Stock Exchange	Cboe BXE	Cboe CXE	Turquoise
Number of ordinary shares purchased	148,616	68,609	50,735	11,858
Highest price paid (per ordinary share)	£ 46.3300	£ 46.3200	£ 46.3300	£ 46.3200
Lowest price paid (per ordinary share)	£ 44.8500	£ 44.8900	£ 44.8900	£ 44.8400
Volume weighted average price paid(per ordinary share)	£ 45.7031	£ 45.7126	£ 45.7120	£ 45.6984

Click on, or paste the following link into your web browser, to view full announcement:

http://www.rns-pdf.londonstockexchange.com/rns/9509D_1-2022-10-24.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/722108/InterContinental-Hotels-Group-PLC-Announces-Transaction-in-Own-Shares--Oct-25

FAQ

What was the purpose of IHG's recent share purchase announcement?

IHG announced a share buyback to reduce the number of outstanding shares and enhance shareholder value.

How many shares did IHG buy back on October 24, 2022?

IHG bought back a total of 279,818 ordinary shares on October 24, 2022.

What was the average price paid per share in IHG's buyback?

The average price paid per share during IHG's buyback was £45.7069.

What will happen to the shares purchased by IHG?

The purchased shares will be canceled, reducing the total number of shares in circulation.

What is the current number of shares outstanding after IHG's buyback?

After the buyback, IHG has 178,037,599 ordinary shares outstanding.