InterContinental Hotels Group PLC Announces Transaction in Own Shares - May 14
InterContinental Hotels Group (IHG) announced the purchase of 91,014 of its ordinary shares on May 13, 2024, through Goldman Sachs International. The lowest price paid per share was £78.8200, the highest was £79.3800, with an average price of £79.2279. This transaction follows the authority granted at the Annual General Meeting on May 3, 2024, and instructions issued on February 20, 2024. Post-transaction, IHG has 162,664,109 ordinary shares in issue, excluding 7,006,782 held in treasury. The company intends to cancel the purchased shares.
- Purchase of 91,014 ordinary shares shows the company's confidence in its own value.
- Average purchase price per share was £79.2279, indicating a stable stock price.
- Reduction in the number of shares in issue (162,664,109) can potentially improve earnings per share.
- No significant increase in shareholder value immediately evident from this transaction.
- Use of cash reserves for share buyback could limit funds available for other investments.
LONDON, UK / ACCESSWIRE / May 14, 2024 / The Company announces that on 13 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: | 13 May 2024 |
| Aggregate number of ordinary shares purchased: | 91,014 |
| Lowest price paid per share: | £ 78.8200 |
| Highest price paid per share: | £ 79.3800 |
| Average price paid per share: | £ 79.2279 |
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 162,664,109 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/2546O_1-2024-5-13.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: 91,014 (ISIN: GB00BHJYC057)
Date of purchases: 13 May 2024
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |
Number of ordinary shares purchased | 77,440 | 13,574 | ||
Highest price paid (per ordinary share) | £ 79.3800 | £ 79.3800 | ||
Lowest price paid (per ordinary share) | £ 78.8200 | £ 78.8200 | ||
Volume weighted average price paid(per ordinary share) | £ 79.2343 | £ 79.1911 |
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SOURCE: InterContinental Hotels Group PLC
View the original press release on accesswire.com
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