InterContinental Hotels Group PLC Announces Transaction in Own Shares - Apr 30
InterContinental Hotels Group PLC announced the purchase of its own shares through Goldman Sachs International on the London Stock Exchange in accordance with shareholder approval.
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Rhea-AI Summary
InterContinental Hotels Group PLC announced the purchase of its own shares through Goldman Sachs International on the London Stock Exchange in accordance with shareholder approval. The Company bought 19,899 ordinary shares at an average price of £79.5592 per share, with the intention to cancel them. After the transaction, the Company has 162,962,749 ordinary shares in issue.
Positive
The Company's buyback of its own shares demonstrates confidence in its financial stability.
The cancellation of purchased shares can improve earnings per share metrics for existing shareholders.
Negative
The need for share buybacks may signal that the Company lacks better investment opportunities.
Share buybacks may indicate that the Company's growth prospects are
Details
News Market Reaction – IHG
The recorded move for IHG in the trading session of this news was -1.80%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Purchase of own shares
LONDON, UK / ACCESSWIRE / April 30, 2024 / The Company announces that on 29 April 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 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: | 29 April 2024 |
| Aggregate number of ordinary shares purchased: | 19,899 |
| Lowest price paid per share: | £ 78.9800 |
| Highest price paid per share: | £ 80.2400 |
| Average price paid per share: | £ 79.5592 |
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 162,962,749 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: 19,899 (ISIN: GB00BHJYC057)
Date of purchases: 29 April 2024
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |
Number of ordinary shares purchased | 19,899 | |||
Highest price paid (per ordinary share) | £ 80.2400 | |||
Lowest price paid (per ordinary share) | £ 78.9800 | |||
Volume weighted average price paid(per ordinary share) | £ 79.5592 |
Detailed information:
Transaction Date | Time | Time Zone | Volume | Price (GBP) | Trading Venue | Transaction ID |
29/04/2024 | 08:40:50 | BST | 116 | 79.9800 | XLON | 984063586342137 |
29/04/2024 | 08:53:41 | BST | 23 | 79.9400 | XLON | 984063586343160 |
29/04/2024 | 08:53:41 | BST | 51 | 79.9400 | XLON | 984063586343161 |
29/04/2024 | 08:58:19 | BST | 102 | 79.9800 | XLON | 984063586343560 |
29/04/2024 | 08:59:52 | BST | 75 | 80.0000 | XLON | 984063586343674 |
29/04/2024 | 09:02:11 | BST | 172 | 79.9600 | XLON | 984063586344375 |
29/04/2024 | 09:08:14 | BST | 146 | 80.0000 | XLON | 984063586344754 |
29/04/2024 | 09:09:48 | BST | 18 | 79.9800 | XLON | 984063586345049 |
29/04/2024 | 09:09:48 | BST | 155 | 79.9800 | XLON | 984063586345048 |
29/04/2024 | 09:30:17 | BST | 59 | 79.9800 | XLON | 984063586346798 |
29/04/2024 | 09:39:13 | BST | 157 | 79.9800 | XLON | 984063586347827 |
29/04/2024 | 09:39:38 | BST | 89 | 80.0400 | XLON | 984063586347899 |
29/04/2024 | 09:41:12 | BST | 159 | 80.1600 | XLON | 984063586348077 |
29/04/2024 | 09:41:47 | BST | 152 | 80.1200 | XLON | 984063586348111 |
29/04/2024 | 09:48:17 | BST | 42 | 80.1400 | XLON | 984063586348773 |
29/04/2024 | 09:53:49 | BST | 45 | 80.1600 | XLON | 984063586349464 |
29/04/2024 | 09:53:49 | BST | 103 | 80.1600 | XLON | 984063586349461 |
29/04/2024 | 09:55:13 | BST | 44 | 80.2400 | XLON | 984063586349564 |
29/04/2024 | 09:59:07 | BST | 6 | 80.1400 | XLON | 984063586349828 |
29/04/2024 | 09:59:07 | BST | 41 | 80.1400 | XLON | 984063586349829 |
29/04/2024 | 10:27:56 | BST | 77 | 80.0400 | XLON | 984063586351616 |
29/04/2024 | 10:53:02 | BST | 23 | 79.8200 | XLON | 984063586353161 |
29/04/2024 | 10:53:02 | BST | 38 | 79.8400 | XLON | 984063586353162 |
29/04/2024 | 10:54:10 | BST | 86 | 79.7800 | XLON | 984063586353318 |
29/04/2024 | 11:01:45 | BST | 1 | 79.8800 | XLON | 984063586353920 |
29/04/2024 | 11:01:45 | BST | 46 | 79.8800 | XLON | 984063586353917 |
29/04/2024 | 11:01:45 | BST | 80 | 79.8800 | XLON | 984063586353919 |
29/04/2024 | 11:01:45 | BST | 193 | 79.9000 | XLON | 984063586353915 |
29/04/2024 | 11:04:13 | BST | 94 | 79.9000 | XLON | 984063586354114 |
29/04/2024 | 11:04:13 | BST | 96 | 79.9000 | XLON | 984063586354116 |
29/04/2024 | 11:05:26 | BST | 56 | 79.9200 | XLON | 984063586354222 |
29/04/2024 | 11:05:45 | BST | 24 | 79.9200 | XLON | 984063586354236 |
29/04/2024 | 11:05:45 | BST | 37 | 79.9200 | XLON | 984063586354235 |
29/04/2024 | 11:14:11 | BST | 55 | 79.9000 | XLON | 984063586354728 |
29/04/2024 | 12:05:46 | BST | 24 | 79.9000 | XLON | 984063586356858 |
29/04/2024 | 12:05:46 | BST | 30 | 79.9000 |