InterContinental Hotels Group PLC Announces Transaction in Own Shares - June 18

Rhea-AI Summary

On June 17, 2024, InterContinental Hotels Group (IHG) purchased 1,000 of its ordinary shares at an average price of £81.7160 per share, with the lowest price being £81.1800 and the highest £82.7200. The transaction, executed through Goldman Sachs International on the London Stock Exchange, was authorized at the May 3, 2024 AGM. Following this buyback, IHG's total issued shares stand at 161,741,033, excluding 7,006,782 shares held in treasury. The company intends to cancel the purchased shares, potentially influencing the stock's supply and demand dynamics.

Positive

• Executed buyback of 1,000 shares, potentially signaling confidence in the company's stock value.
• Shares bought at an average price of £81.7160, which could be seen as a strategic investment.
• Reduction in total shares outstanding to 161,741,033, excluding treasury shares, may positively affect earnings per share (EPS).
• Cancellation of purchased shares indicates a potential for increased shareholder value.

Negative

• The buyback involves a number of shares (1,000), which might have minimal impact on overall share price.
• The highest price paid per share was £82.7200, indicating possible overvaluation concerns.
• No immediate impact on revenue or profits from this transaction, which might not satisfy investors looking for short-term gains.

Purchase of own shares

LONDON, UNITED KINGDOM / ACCESSWIRE / June 18, 2024 / The Company announces that on 17 June 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 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:	17 June 2024
Aggregate number of ordinary shares purchased:	1,000
Lowest price paid per share:	£ 81.1800
Highest price paid per share:	£ 82.7200
Average price paid per share:	£ 81.7160

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 161,741,033 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: 1,000 (ISIN: GB00BHJYC057)

Date of purchases: 17 June 2024

Investment firm: GSI

Aggregated information:

	London Stock Exchange	Cboe BXE	Cboe CXE	Turquoise
Number of ordinary shares purchased	1,000
Highest price paid (per ordinary share)	£ 82.7200
Lowest price paid (per ordinary share)	£ 81.1800
Volume weighted average price paid(per ordinary share)	£ 81.7160

Detailed information:

Transaction Date	Time	Time Zone	Volume	Price (GBP)	Trading Venue	Transaction ID
17/06/2024	09:37:50	BST	50	82.3000	XLON	1014368875581580
17/06/2024	09:39:37	BST	50	82.2800	XLON	1014368875581637
17/06/2024	10:16:53	BST	50	82.7200	XLON	1014368875583471
17/06/2024	11:01:29	BST	50	82.1200	XLON	1014368875585767
17/06/2024	11:47:01	BST	50	82.1200	XLON	1014368875587474
17/06/2024	12:38:04	BST	50	81.7200	XLON	1014368875589503
17/06/2024	13:26:31	BST	11	81.9200	XLON	1014368875591136
17/06/2024	13:26:31	BST	39	81.9200	XLON	1014368875591137
17/06/2024	14:12:40	BST	50	81.7600	XLON	1014368875593028
17/06/2024	14:46:37	BST	50	81.6200	XLON	1014368875594195
17/06/2024	15:12:06	BST	22	81.1800	XLON	1014368875595615
17/06/2024	15:12:06	BST	4	81.1800	XLON	1014368875595616
17/06/2024	15:12:06	BST	1	81.1800	XLON	1014368875595617
17/06/2024	15:12:06	BST	23	81.1800	XLON	1014368875595618
17/06/2024	15:32:25	BST	50	81.4200	XLON	1014368875597545
17/06/2024	15:41:35	BST	44	81.4600	XLON	1014368875598766
17/06/2024	15:41:35	BST	2	81.4600	XLON	1014368875598767
17/06/2024	15:42:19	BST	3	81.5200	XLON	1014368875598866
17/06/2024	15:42:19	BST	1	81.5200	XLON	1014368875598867
17/06/2024	15:53:07	BST	50	81.4400	XLON	1014368875600103
17/06/2024	16:05:22	BST	50	81.2400	XLON	1014368875601536
17/06/2024	16:17:00	BST	50	81.2600	XLON	1014368875602853
17/06/2024	16:35:10	BST	26	81.4400	XLON	1014368875604738
17/06/2024	16:40:17	BST	51	81.4800	XLON	1014368875605428
17/06/2024	16:40:21	BST	1	81.4400	XLON	1014368875605472
17/06/2024	16:58:29	BST	6	81.6000	XLON	1014368875607038
17/06/2024	16:58:29	BST	39	81.6000	XLON	1014368875607039
17/06/2024	16:58:30	BST	8	81.6000	XLON	1014368875607051
17/06/2024	16:58:30	BST	5	81.6000	XLON	1014368875607052
17/06/2024	17:11:03	BST	45	81.6000	XLON	1014368875608654
17/06/2024	17:21:15	BST	46	81.5800	XLON	1014368875610358
17/06/2024	17:24:29	BST	12	81.5600	XLON	1014368875610851
17/06/2024	17:24:29	BST	11	81.5600	XLON	1014368875610852

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: InterContinental Hotels Group PLC

View the original press release on accesswire.com

FAQ

What did InterContinental Hotels Group announce on June 18, 2024?

InterContinental Hotels Group announced the purchase of 1,000 ordinary shares on June 17, 2024, at an average price of £81.7160 per share.

How many shares did IHG purchase on June 17, 2024?

IHG purchased 1,000 ordinary shares on June 17, 2024.

At what prices did IHG purchase its shares?

IHG purchased its shares at prices ranging from £81.1800 to £82.7200, with an average price of £81.7160.

What will IHG do with the purchased shares?

IHG intends to cancel the purchased shares.

How many shares does IHG have in issue after the purchase?

After the purchase, IHG has 161,741,033 ordinary shares in issue, excluding 7,006,782 shares held in treasury.