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InterContinental Hotels Group PLC Announces Transaction in Own Shares - June 11

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InterContinental Hotels Group (IHG) announced the repurchase of 32,790 of its ordinary shares on June 10, 2024, through Goldman Sachs International. The shares were bought at prices ranging from £78.94 to £79.62, with an average price of £79.41 per share. This action follows the authority granted by shareholders at the Annual General Meeting on May 3, 2024. After this transaction, the total number of shares in issue is 161,838,683, excluding 7,006,782 shares held in treasury. The company intends to cancel the purchased shares.

Positive
  • Repurchased 32,790 shares, reducing outstanding shares and potentially increasing EPS.
  • Executed share buyback at an average price of £79.41.
  • Transaction authorized by shareholders during the Annual General Meeting.
  • Total shares outstanding reduced to 161,838,683 (excluding treasury).
  • Share cancellation indicates a possible return of value to shareholders.
Negative
  • No new revenue or profit information provided.
  • Share buyback might indicate lack of better investment opportunities.
  • Ongoing expenses for share repurchases could impact cash reserves.

Purchase of own shares

LONDON, UNITED KINGDOM / ACCESSWIRE / June 11, 2024 / The Company announces that on 10 June 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:10 June 2024
Aggregate number of ordinary shares purchased:32,790
Lowest price paid per share:£ 78.9400
Highest price paid per share:£ 79.6200
Average price paid per share:£ 79.4124

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 161,838,683 ordinary shares in issue (excluding 7,006,782 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: Mike Ward (+44 (0)7795 257 407)

Schedule of Purchases

Shares purchased: 32,790 (ISIN: GB00BHJYC057)

Date of purchases: 10 June 2024

Investment firm: GSI

Aggregated information:

London Stock Exchange

Cboe BXE

Cboe CXE

Turquoise

Number of ordinary shares purchased

32,790

Highest price paid (per ordinary share)

£ 79.6200

Lowest price paid (per ordinary share)

£ 78.9400

Volume weighted average price paid(per ordinary share)

£ 79.4124

Detailed information:

Transaction Date

Time

Time Zone

Volume

Price (GBP)

Trading Venue

Transaction ID

10/06/2024

10:07:09

BST

52

79.1400

XLON

1010056728418436

10/06/2024

10:07:23

BST

52

79.1200

XLON

1010056728418449

10/06/2024

10:09:37

BST

52

79.1400

XLON

1010056728418603

10/06/2024

10:14:01

BST

52

79.2600

XLON

1010056728418867

10/06/2024

10:14:01

BST

52

79.2400

XLON

1010056728418868

10/06/2024

10:14:01

BST

52

79.2200

XLON

1010056728418871

10/06/2024

10:14:55

BST

5

79.2600

XLON

1010056728418922

10/06/2024

10:14:55

BST

42

79.2600

XLON

1010056728418923

10/06/2024

10:14:55

BST

5

79.2600

XLON

1010056728418924

10/06/2024

10:15:06

BST

52

79.2400

XLON

1010056728418960

10/06/2024

10:15:30

BST

47

79.2200

XLON

1010056728418987

10/06/2024

10:15:30

BST

5

79.2200

XLON

1010056728418988

10/06/2024

10:15:40

BST

52

79.2400

XLON

1010056728418996

10/06/2024

10:16:33

BST

52

79.2800

XLON

1010056728419055

10/06/2024

10:16:42

BST

22

79.2600

XLON

1010056728419059

10/06/2024

10:16:42

BST

30

79.2600

XLON

1010056728419060

10/06/2024

10:16:51

BST

52

79.2400

XLON

1010056728419078

10/06/2024

10:17:37

BST

52

79.1800

XLON

1010056728419137

10/06/2024

10:21:11

BST

52

79.2600

XLON

1010056728419398

10/06/2024

10:22:07

BST

52

79.3600

XLON

1010056728419434

10/06/2024

10:22:24

BST

52

79.3400

XLON

1010056728419463

10/06/2024

10:22:24

BST

52

79.3200

XLON

1010056728419467

10/06/2024

10:23:47

BST

52

79.3400

XLON

1010056728419552

10/06/2024

10:24:09

BST

52

79.3200

XLON

1010056728419569

10/06/2024

10:24:23

BST

40

79.3000

XLON

1010056728419578

10/06/2024

10:24:23

BST

12

79.3000

XLON

1010056728419579

10/06/2024

10:25:24

BST

52

79.2600

XLON

1010056728419643

10/06/2024

10:25:47

BST

52

79.2400

XLON

1010056728419651

10/06/2024

10:27:40

BST

52

79.2800

XLON

1010056728419792

10/06/2024

10:28:21

BST

52

79.2400

XLON

1010056728419847

10/06/2024

10:30:57

BST

14

79.1600

XLON

1010056728419975

10/06/2024

10:30:57

BST

24

79.1600

XLON

1010056728419976

10/06/2024

10:30:57

BST

9

79.1600

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FAQ

What are the details of IHG's share repurchase on June 10, 2024?

IHG repurchased 32,790 shares on June 10, 2024, at prices between £78.94 and £79.62, with an average price of £79.41.

Why did InterContinental Hotels Group repurchase shares?

The repurchase was authorized by shareholders during the Annual General Meeting to potentially improve shareholder value by reducing the number of outstanding shares.

What is the impact of IHG's share repurchase on the total number of shares?

Following the repurchase, the total number of shares in issue is 161,838,683, excluding 7,006,782 shares held in treasury.

At what prices were IHG's shares repurchased on June 10, 2024?

The shares were repurchased at prices ranging from £78.94 to £79.62, with an average price of £79.41 per share.

Who facilitated the share repurchase for InterContinental Hotels Group?

The share repurchase was facilitated through Goldman Sachs International.

InterContinental Hotels Group Plc

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