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InterContinental Hotels Group PLC Announces Transaction in Own Shares - Jun 24

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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.

Positive
  • 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).
Negative
  • 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.

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