InterContinental Hotels Group PLC Announces Transaction in Own Shares - May 20
InterContinental Hotels Group PLC (IHG) announced the repurchase of 59,849 of its ordinary shares on the London Stock Exchange on May 17, 2024.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
InterContinental Hotels Group PLC (IHG) announced the repurchase of 59,849 of its ordinary shares on the London Stock Exchange on May 17, 2024. The shares were bought at an average price of £78.0589 per share, with the lowest price being £77.92 and the highest at £78.28. This transaction follows the authority granted by shareholders during the company's Annual General Meeting on May 3, 2024. The repurchased shares will be canceled, bringing the total number of shares in issue to 162,459,870, excluding 7,006,782 treasury shares. The shares were bought through Goldman Sachs International. Detailed transaction data is available for review.
Positive
- Repurchase reduces the number of outstanding shares, potentially increasing the value per share.
- The transaction was completed at a relatively high average price, indicating confidence in the company's valuation.
- Cancellation of shares can improve earnings per share (EPS) by reducing the denominator.
Negative
- The use of cash for share repurchase may limit available funds for other investments or operational needs.
- Reduction in cash reserves could impact financial flexibility.
Details
News Market Reaction – IHG
The recorded move for IHG in the trading session of this news was +0.49%.
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 / May 20, 2024 / The Company announces that on 17 May 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: | 17 May 2024 |
| Aggregate number of ordinary shares purchased: | 59,849 |
| Lowest price paid per share: | £ 77.9200 |
| Highest price paid per share: | £ 78.2800 |
| Average price paid per share: | £ 78.0589 |
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 162,459,870 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: 59,849 (ISIN: GB00BHJYC057)
Date of purchases: 17 May 2024
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |
Number of ordinary shares purchased | 59,849 | |||
Highest price paid (per ordinary share) | £ 78.2800 | |||
Lowest price paid (per ordinary share) | £ 77.9200 | |||
Volume weighted average price paid(per ordinary share) | £ 78.0589 |
Detailed information:
Transaction Date | Time | Time Zone | Volume | Price (GBP) | Trading Venue | Transaction ID |
17/05/2024 | 10:25:38 | BST | 116 | 77.9200 | XLON | 995196141576533 |
17/05/2024 | 10:41:40 | BST | 113 | 77.9600 | XLON | 995196141577960 |
17/05/2024 | 10:42:09 | BST | 60 | 77.9400 | XLON | 995196141577979 |
17/05/2024 | 10:42:09 | BST | 136 | 77.9400 | XLON | 995196141577980 |
17/05/2024 | 10:45:02 | BST | 45 | 77.9200 | XLON | 995196141578137 |
17/05/2024 | 10:45:02 | BST | 3 | 77.9200 | XLON | 995196141578138 |
17/05/2024 | 10:52:20 | BST | 9 | 77.9600 | XLON | 995196141578615 |
17/05/2024 | 10:52:20 | BST | 51 | 77.9600 | XLON | 995196141578616 |
17/05/2024 | 10:52:20 | BST | 49 | 77.9600 | XLON | 995196141578618 |
17/05/2024 | 11:01:15 | BST | 108 | 77.9600 | XLON | 995196141579293 |
17/05/2024 | 11:03:19 | BST | 108 | 78.0000 | XLON | 995196141579445 |
17/05/2024 | 11:09:41 | BST | 626 | 78.0000 | XLON | 995196141579916 |
17/05/2024 | 11:09:43 | BST | 277 | 78.0100 | XLON | 995196141579926 |
17/05/2024 | 11:15:20 | BST | 484 | 78.0500 | XLON | 995196141580619 |
17/05/2024 | 11:15:21 | BST | 153 | 78.0400 | XLON | 995196141580627 |
17/05/2024 | 11:15:21 | BST | 44 | 78.0000 | XLON | 995196141580645 |
17/05/2024 | 11:15:21 | BST | 43 | 78.0200 | XLON | 995196141580648 |
17/05/2024 | 11:15:27 | BST | 169 | 78.0400 | XLON | 995196141580902 |
17/05/2024 | 11:15:27 | BST | 176 | 78.0000 | XLON | 995196141580904 |
17/05/2024 | 11:15:27 | BST | 86 | 78.0000 | XLON | 995196141580905 |
17/05/2024 | 11:15:29 | BST | 26 | 78.0000 | XLON | 995196141580957 |
17/05/2024 | 11:15:31 | BST | 228 | 78.0300 | XLON | 995196141581054 |
17/05/2024 | 11:15:39 | BST | 75 | 78.0300 | XLON | 995196141581126 |
17/05/2024 | 11:15:42 | BST | 81 | 78.0100 | XLON | 995196141581171 |
17/05/2024 | 11:16:22 | BST | 55 | 77.9800 | XLON | 995196141581426 |
17/05/2024 | 11:16:22 | BST | 12 | 77.9800 | XLON | 995196141581427 |
17/05/2024 | 11:16:32 | BST | 43 | 77.9800 | XLON | 995196141581463 |
17/05/2024 | 11:16:32 | BST | 40 | 77.9800 | XLON | 995196141581464 |
17/05/2024 | 11:16:32 | BST | 22 | 77.9800 | XLON | 995196141581467 |
17/05/2024 | 11:16:32 | BST | 67 | 77.9800 | XLON | 995196141581468 |
17/05/2024 | 11:17:17 | BST | 87 | 78.0100 | XLON | 995196141581641 |
17/05/2024 | 11:17:50 | BST | 40 | 78.0000 | XLON | 995196141581698 |
17/05/2024 | 11:17:50 | BST | 103 | 78.0000 | XLON | 995196141581699 |
17/05/2024 | 11:17:50 | BST | 22 | 78.0000 | XLON | 995196141581702 |
17/05/2024 | 11:17:50 | BST | 24 | 78.0000 | XLON | 995196141581703 |
17/05/2024 | 11:18:30 | BST | 13 | 77.9800 |