InterContinental Hotels Group PLC Announces Transaction in Own Shares - March 13
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Insights
The company's recent share repurchase is a significant financial maneuver that can have various implications on its market valuation and shareholder value. By reducing the number of shares available in the market, the company is potentially increasing the earnings per share (EPS), which could lead to a higher stock price. This action usually signals the management's confidence in the long-term prospects of the company, indicating that they believe the stock is undervalued.
However, it is also critical to assess the opportunity cost of such a buyback. The funds used for share repurchases could have been allocated to other growth opportunities or debt reduction. Therefore, it is essential to analyze the company's financial health, including its cash reserves and debt levels, to understand whether the buyback is a strategic move or a short-term tactic to prop up the share price.
The execution of the share buyback at a volume-weighted average price provides insight into the company's approach to returning value to shareholders. The cancellation of the purchased shares will reduce the total number of shares outstanding, which could positively affect the company's financial ratios. It's imperative to evaluate the impact of this buyback on the company's balance sheet and its ability to maintain liquidity and financial flexibility.
Furthermore, the timing and price range of the buyback could be indicative of the company's market timing strategies. An analysis of the historical stock price performance and comparison with the buyback price range may offer insights into the effectiveness of the buyback program and its alignment with shareholder interests.
The share buyback has been conducted under the authority granted by shareholders, which reflects a level of corporate governance and adherence to shareholder rights. It is important to evaluate the transparency and communication of the company with its shareholders regarding the buyback program. Additionally, the impact of the share cancellation on the distribution of voting power among remaining shareholders should be considered, as it may lead to changes in the control dynamics of the company.
Moreover, the role of the investment firm handling the transactions, in this case, Goldman Sachs International and the disclosed breakdown of purchases, contribute to the governance quality by ensuring fairness and preventing market manipulation.
Purchase of own shares
LONDON, UK / ACCESSWIRE / March 13, 2024 / The Company announces that on 12 March 2024 it purchased the following number of its ordinary shares of 20 340/399 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 5 May 2023 (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: | 12 March 2024 | |||
Aggregate number of ordinary shares purchased: | 10,000 | |||
Lowest price paid per share: | £ | 82.8200 | ||
Highest price paid per share: | £ | 83.9000 | ||
Average price paid per share: | £ | 83.2845 | ||
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 164,334,146 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: 10,000 (ISIN: GB00BHJYC057)
Date of purchases: 12 March 2024
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |||
Number of ordinary shares purchased | 10,000 | |||||
Highest price paid (per ordinary share) | £ | 83.9000 | ||||
Lowest price paid (per ordinary share) | £ | 82.8200 | ||||
Volume weighted average price paid(per ordinary share) | £ | 83.2845 | ||||
Detailed information:
Transaction Date | Time | Time Zone | Volume | Price (GBP) | Trading Venue | Transaction ID |
12/03/2024 | 08:41:07 | GMT | 98 | 82.8800 | XLON | 954402542197208 |
12/03/2024 | 08:46:50 | GMT | 46 | 82.8200 | XLON | 954402542197760 |
12/03/2024 | 08:54:05 | GMT | 15 | 82.9000 | XLON | 954402542198355 |
12/03/2024 | 08:54:05 | GMT | 34 | 82.9000 | XLON | 954402542198356 |
12/03/2024 | 08:58:00 | GMT | 67 | 83.0400 | XLON | 954402542198613 |
12/03/2024 | 09:04:37 | GMT | 156 | 83.1600 | XLON | 954402542199131 |
12/03/2024 | 09:09:40 | GMT | 2 | 83.0600 | XLON | 954402542199521 |
12/03/2024 | 09:09:40 | GMT | 70 | 83.0600 | XLON | 954402542199520 |
12/03/2024 | 09:11:48 | GMT | 50 | 82.9800 | XLON | 954402542199655 |
12/03/2024 | 09:14:11 | GMT | 51 | 82.9600 | XLON | 954402542199893 |
12/03/2024 | 09:18:58 | GMT | 77 | 83.0600 | XLON | 954402542200207 |
12/03/2024 | 09:23:06 | GMT | 68 | 83.0600 | XLON | 954402542200514 |
12/03/2024 | 09:25:55 | GMT | 52 | 83.1800 | XLON | 954402542200724 |
12/03/2024 | 09:29:23 | GMT | 52 | 83.1600 | XLON | 954402542201092 |
12/03/2024 | 09:35:07 | GMT | 45 | 83.1200 | XLON | 954402542201450 |
12/03/2024 | 09:39:05 | GMT | 48 | 82.9600 | XLON | 954402542201706 |
12/03/2024 | 09:45:28 | GMT | 48 | 82.9200 | XLON | 954402542202235 |
12/03/2024 | 09:49:36 | GMT | 47 | 82.9800 | XLON | 954402542202530 |
12/03/2024 | 09:54:14 | GMT | 48 | 82.9600 | XLON | 954402542203123 |
12/03/2024 | 09:58:22 | GMT | 46 | 82.9600 | XLON | 954402542203503 |
12/03/2024 | 10:04:06 | GMT | 44 | 82.9600 | XLON | 954402542204048 |
12/03/2024 | 10:13:21 | GMT | 66 | 82.9600 | XLON | 954402542204918 |
12/03/2024 | 10:21:53 | GMT | 101 | 82.9800 | XLON | 954402542205694 |
12/03/2024 | 10:26:14 | GMT | 50 | 82.9600 | XLON | 954402542206066 |
12/03/2024 | 10:38:48 | GMT | 92 | 82.9600 | XLON | 954402542207042 |
12/03/2024 | 10:43:06 | GMT | 44 | 83.0000 | XLON | 954402542207443 |
12/03/2024 | 10:48:08 | GMT | 47 | 82.9800 | XLON | 954402542207865 |
12/03/2024 | 10:57:14 | GMT | 45 | 83.0000 | XLON | 954402542208827 |
12/03/2024 | 10:59:05 | GMT | 68 | 82.9600 | XLON | 954402542209043 |
12/03/2024 | 11:07:06 | GMT | 46 | 82.8800 | XLON | 954402542210009 |
12/03/2024 | 11:09:15 | GMT | 43 | 82.8800 | XLON | 954402542210122 |
12/03/2024 | 11:31:22 | GMT | 55 | 82.9200 | XLON | 954402542212458 |
12/03/2024 | 11:31:22 | GMT | 137 | 82.9200 | XLON | 954402542212461 |
12/03/2024 | 11:36:43 | GMT | 36 |
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FAQ
How many ordinary shares did InterContinental Hotels Group PLC purchase?
InterContinental Hotels Group PLC purchased 10,000 of its own ordinary shares.
Where did InterContinental Hotels Group PLC purchase the shares?
InterContinental Hotels Group PLC purchased the shares on the London Stock Exchange through Goldman Sachs International.
What is the total number of ordinary shares InterContinental Hotels Group PLC holds after the purchase?
Following the purchase, InterContinental Hotels Group PLC holds 164,334,146 ordinary shares in issue.
What is the highest price paid per share by InterContinental Hotels Group PLC?
The highest price paid per share by InterContinental Hotels Group PLC was £83.9000.
What is the lowest price paid per share by InterContinental Hotels Group PLC?
The lowest price paid per share by InterContinental Hotels Group PLC was £82.8200.
InterContinental Hotels Group Plc
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