InterContinental Hotels Group PLC Announces Transaction in Own Shares - Jun 24
InterContinental Hotels Group PLC (IHG) announced the repurchase of 20,000 ordinary shares on June 21, 2024. The shares were acquired at prices ranging from £82.10 to £82.94, with an average price of £82.57 per share. This transaction was conducted through Goldman Sachs International on the London Stock Exchange, following authorization from shareholders at the Annual General Meeting on May 3, 2024. IHG plans to cancel these shares, reducing the number of shares in issue to 161,667,045 (excluding 7,006,782 held in treasury). This buyback is part of a strategy to return value to shareholders.
- Repurchase of 20,000 ordinary shares, reflecting confidence in the company's value.
- Average repurchase price of £82.57 per share shows a robust valuation.
- Reduction in the number of shares in issue to 161,667,045, potentially increasing earnings per share (EPS).
- Significant capital outflow for share repurchase, which might impact liquidity.
- The repurchase was conducted at a high price range (£82.10 - £82.94), indicating substantial expenditure.
Purchase of own shares
LONDON, UNITED KINGDOM / ACCESSWIRE / June 24, 2024 / InterContinental Hotels Group PLC (the Company)(NYSE:IHG)(LSE:IHG)(OTC PINK:ICHGF)
The Company announces that on 21 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: | 21 June 2024 |
Aggregate number of ordinary shares purchased: | 20,000 |
Lowest price paid per share: | £ 82.1000 |
Highest price paid per share: | £ 82.9400 |
Average price paid per share: | £ 82.5698 |
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 161,667,045 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: 20,000 (ISIN: GB00BHJYC057)
Date of purchases: 21 June 2024
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |
Number of ordinary shares purchased | 20,000 | |||
Highest price paid (per ordinary share) | £ 82.9400 | |||
Lowest price paid (per ordinary share) | £ 82.1000 | |||
Volume weighted average price paid(per ordinary share) | £ 82.5698 |
Detailed information:
Transaction Date | Time | Time Zone | Volume | Price (GBP) | Trading Venue | Transaction ID |
21/06/2024 | 10:11:22 | BST | 84 | 82.9400 | XLON | 1016842776744830 |
21/06/2024 | 10:11:23 | BST | 84 | 82.9000 | XLON | 1016842776744842 |
21/06/2024 | 10:11:24 | BST | 67 | 82.9000 | XLON | 1016842776744848 |
21/06/2024 | 10:16:26 | BST | 84 | 82.8600 | XLON | 1016842776745071 |
21/06/2024 | 10:20:43 | BST | 47 | 82.8600 | XLON | 1016842776745155 |
21/06/2024 | 10:20:43 | BST | 4 | 82.8600 | XLON | 1016842776745156 |
21/06/2024 | 11:02:06 | BST | 48 | 82.7400 | XLON | 1016842776746646 |
21/06/2024 | 11:06:22 | BST | 48 | 82.7400 | XLON | 1016842776746774 |
21/06/2024 | 11:06:38 | BST | 43 | 82.6800 | XLON | 1016842776746797 |
21/06/2024 | 11:09:06 | BST | 58 | 82.7400 | XLON | 1016842776746997 |
21/06/2024 | 11:09:06 | BST | 52 | 82.7000 | XLON | 1016842776747000 |
21/06/2024 | 11:15:36 | BST | 79 | 82.4400 | XLON | 1016842776749286 |
21/06/2024 | 11:15:36 | BST | 79 | 82.4000 | XLON | 1016842776749290 |
21/06/2024 | 11:15:37 | BST | 84 | 82.4000 | XLON | 1016842776749307 |
21/06/2024 | 11:15:39 | BST | 84 | 82.4200 | XLON | 1016842776749324 |
21/06/2024 | 11:15:41 | BST | 35 | 82.4200 | XLON | 1016842776749373 |
21/06/2024 | 11:16:19 | BST | 50 | 82.4400 | XLON | 1016842776749808 |
21/06/2024 | 11:16:19 | BST | 56 | 82.4000 | XLON | 1016842776749844 |
21/06/2024 | 11:16:26 | BST | 63 | 82.4000 | XLON | 1016842776749895 |
21/06/2024 | 11:16:32 | BST | 59 | 82.4000 | XLON | 1016842776749935 |
21/06/2024 | 11:17:14 | BST | 57 | 82.3600 | XLON | 1016842776750302 |
21/06/2024 | 11:17:53 | BST | 83 | 82.3800 | XLON | 1016842776750454 |
21/06/2024 | 11:18:11 | BST | 68 | 82.3800 | XLON | 1016842776750531 |
21/06/2024 | 11:18:11 | BST | 45 | 82.3400 | XLON | 1016842776750540 |
21/06/2024 | 11:18:52 | BST | 69 | 82.3400 | XLON | 1016842776750655 |
21/06/2024 | 11:19:18 | BST | 57 | 82.3000 | XLON | 1016842776750713 |
21/06/2024 | 11:19:58 | BST | 56 | 82.2400 | XLON | 1016842776750887 |
21/06/2024 | 11:20:42 | BST | 84 | 82.2000 | XLON | 1016842776751081 |
21/06/2024 | 11:20:42 | BST | 84 | 82.1600 | XLON | 1016842776751095 |
21/06/2024 | 11:21:10 | BST | 84 | 82.1000 | XLON | 1016842776751251 |
21/06/2024 | 11:21:49 | BST | 57 | 82.1600 | XLON | 1016842776751402 |
21/06/2024 | 11:21:49 | BST | 17 | 82.1600 | XLON | 1016842776751403 |
21/06/2024 | 11:22:21 | BST | 35 | 82.1200 | XLON | 1016842776751462 |
21/06/2024 | 11:22:21 | BST | 39 | 82.1200 | XLON | 1016842776751463 |
21/06/2024 | 11:22:58 | BST | 51 | 82.1400 | XLON | 1016842776751558 |
21/06/2024 | 11:30:27 | BST | 84 | 82.5600 | XLON | 1016842776752352 |
21/06/2024 |
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FAQ
What is the significance of IHG's share repurchase on June 21, 2024?
The share repurchase signifies IHG's confidence in its value and aims to return capital to shareholders, potentially increasing EPS.
How many shares did IHG repurchase on June 21, 2024?
IHG repurchased 20,000 shares.
What was the average price IHG paid per share in the June 21, 2024 buyback?
The average price paid per share was £82.57.
Why did IHG repurchase its shares?
The repurchase aims to return value to shareholders and reduce the number of shares in issue, potentially increasing EPS.
How will the IHG share buyback affect the number of shares in issue?
Following the buyback, the number of shares in issue will be reduced to 161,667,045.
InterContinental Hotels Group Plc
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