InterContinental Hotels Group PLC Announces Transaction in Own Shares - Jun 03
InterContinental Hotels Group PLC (IHG) announced the purchase of 39,491 ordinary shares on May 31, 2024, on the London Stock Exchange.
The shares were acquired at prices ranging from £77.5400 to £78.6400, with an average price of £78.3028 per share.
The transaction follows the authority granted by shareholders during the company's Annual General Meeting on May 3, 2024, and instructions issued on February 20, 2024.
Post-transaction, IHG has 162,074,317 ordinary shares in issue, excluding 7,006,782 held in treasury.
The company intends to cancel the purchased shares.
- Purchased 39,491 ordinary shares, potentially increasing shareholder value.
- Shares acquired at an average price of £78.3028, showing controlled expenditure.
- Transaction authorized by shareholders, indicating strong governance.
- Post-transaction, IHG has 162,074,317 ordinary shares in issue, a manageable number for liquidity.
- Cancellation of shares may limit future capital flexibility.
- Share purchase could be perceived as not the optimal use of funds by some investors.
InterContinental Hotels Group PLC (the Company)
Purchase of own shares
LONDON, UNITED KINGDOM / ACCESSWIRE / June 3, 2024 / The Company announces that on 31 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: | 31 May 2024 |
Aggregate number of ordinary shares purchased: | 39,491 |
Lowest price paid per share: | £ 77.5400 |
Highest price paid per share: | £ 78.6400 |
Average price paid per share: | £ 78.3028 |
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 162,074,317 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/7374Q_1-2024-5-31.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: 39,491 (ISIN: GB00BHJYC057)
Date of purchases: 31 May 2024
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |
Number of ordinary shares purchased | 39,491 | |||
Highest price paid (per ordinary share) | £ 78.6400 | |||
Lowest price paid (per ordinary share) | £ 77.5400 | |||
Volume weighted average price paid(per ordinary share) | £ 78.3028 |
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SOURCE: InterContinental Hotels Group PLC
View the original press release on accesswire.com
FAQ
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