InterContinental Hotels Group PLC Announces Transaction in Own Shares - March 27

Rhea-AI Summary

InterContinental Hotels Group PLC announces the purchase of its own shares through Goldman Sachs International on the London Stock Exchange. The Company bought 10,000 ordinary shares at prices ranging from £82.1000 to £83.6600 per share. The purchased shares will be canceled, leaving the Company with 164,246,233 ordinary shares in issue.

Market Analyst

The repurchase of shares by a company often indicates a strategic move to manage capital allocation and convey confidence in the company's financial health. In this case, the repurchase of 10,000 shares at a price range between £82.1000 and £83.6600, with an average price of £83.1360, could be seen as a positive signal to the market. By reducing the number of shares outstanding, the earnings per share (EPS) may increase, potentially leading to a higher stock price.

However, the decision to cancel the repurchased shares is also noteworthy. This action permanently reduces the share count, which can be a double-edged sword. While it may lead to a more favorable EPS in the short term, it also indicates that the company is choosing to return value to shareholders through buybacks rather than investing in growth opportunities or holding the shares for future strategic use. Investors typically weigh the benefits of immediate share price support against the potential for long-term value creation through reinvestment in the business.

Financial Analyst

From a financial perspective, the execution of a share repurchase program must be evaluated in the context of the company's overall capital structure and liquidity position. The aggregate expenditure for this buyback transaction, not explicitly detailed in the announcement, is an important figure that impacts the company's cash reserves. Investors should consider how this use of cash aligns with the company's debt levels, dividend policy and overall financial strategy.

It's also important to assess the timing of the buyback. The company's management has chosen to execute the buyback after receiving shareholder approval at their Annual General Meeting, indicating planned and strategic capital management. However, the market's response to such buybacks can vary and it is essential to understand the broader market conditions and sector performance to fully assess the impact of this transaction on the company's stock price.

Corporate Governance Expert

Share buybacks can be subject to scrutiny from a corporate governance standpoint. They must be executed transparently and in accordance with shareholder interests. The company's announcement indicates compliance with the authority granted by shareholders, which is a positive sign of adherence to good governance practices. Nonetheless, stakeholders should monitor the frequency and scale of share repurchase programs to ensure that they do not come at the expense of other corporate priorities such as R&D, employee development, or corporate sustainability initiatives.

Moreover, the engagement of a reputable investment firm like Goldman Sachs International to conduct the transaction adds a layer of credibility and ensures that the buyback is executed efficiently. The detailed breakdown of purchases provided in the announcement reflects transparency, allowing shareholders to scrutinize the transaction's specifics.

Purchase of own shares

LONDON, UK / ACCESSWIRE / March 27, 2024 / The Company announces that on 26 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:	26 March 2024
Aggregate number of ordinary shares purchased:	10,000
Lowest price paid per share:	£ 82.1000
Highest price paid per share:	£ 83.6600
Average price paid per share:	£ 83.1360

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 164,246,233 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: 26 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)	£ 83.6600
Lowest price paid (per ordinary share)	£ 82.1000
Volume weighted average price paid(per ordinary share)	£ 83.1360

Detailed information:

Transaction Date	Time	Time Zone	Volume	Price (GBP)	Trading Venue	Transaction ID
26/03/2024	08:36:14	GMT	10	82.1000	XLON	963061196263898
26/03/2024	08:36:14	GMT	85	82.1000	XLON	963061196263899
26/03/2024	08:53:32	GMT	165	82.3000	XLON	963061196265205
26/03/2024	08:55:37	GMT	48	82.3200	XLON	963061196265343
26/03/2024	08:59:25	GMT	50	82.2600	XLON	963061196265496
26/03/2024	09:00:38	GMT	91	82.3200	XLON	963061196265591
26/03/2024	09:06:00	GMT	77	82.3800	XLON	963061196265955
26/03/2024	09:13:03	GMT	83	82.3800	XLON	963061196266395
26/03/2024	09:18:50	GMT	1	82.3000	XLON	963061196267068
26/03/2024	09:24:50	GMT	94	82.4000	XLON	963061196267540
26/03/2024	09:25:33	GMT	66	82.4000	XLON	963061196267596
26/03/2024	09:37:21	GMT	52	82.5600	XLON	963061196268432
26/03/2024	09:37:21	GMT	84	82.5600	XLON	963061196268429
26/03/2024	09:43:30	GMT	40	82.6400	XLON	963061196268789
26/03/2024	09:48:44	GMT	52	82.6200	XLON	963061196269083
26/03/2024	09:53:37	GMT	41	82.7200	XLON	963061196269298
26/03/2024	10:02:41	GMT	15	82.6400	XLON	963061196269763
26/03/2024	10:02:41	GMT	29	82.6400	XLON	963061196269762
26/03/2024	10:02:41	GMT	45	82.6400	XLON	963061196269764
26/03/2024	10:12:59	GMT	80	82.6000	XLON	963061196270198
26/03/2024	10:18:29	GMT	59	82.5200	XLON	963061196270439
26/03/2024	10:24:33	GMT	50	82.6600	XLON	963061196270737
26/03/2024	10:24:33	GMT	44	82.6800	XLON	963061196270733
26/03/2024	10:40:52	GMT	48	82.7400	XLON	963061196271625
26/03/2024	10:40:52	GMT	63	82.7400	XLON	963061196271622
26/03/2024	10:55:17	GMT	102	82.8600	XLON	963061196272782
26/03/2024	11:00:00	GMT	12	82.8800	XLON	963061196273153
26/03/2024	11:00:00	GMT	33	82.8800	XLON	963061196273152
26/03/2024	11:02:02	GMT	44	82.8800	XLON	963061196273312
26/03/2024	11:08:02	GMT	41	82.8400	XLON	963061196273776
26/03/2024	11:14:25	GMT	56	82.7400	XLON	963061196274083
26/03/2024	11:33:16	GMT	74	82.7600	XLON	963061196274993
26/03/2024	11:37:44	GMT	111	82.8200	XLON	963061196275157
26/03/2024	11:39:02	GMT	70	82.8200	XLON	963061196275189
26/03/2024	11:50:30	GMT	126	82.8400	XLON	963061196275666
26/03/2024	11:52:38	GMT	17	82.7800	XLON	963061196275775
26/03/2024	11:52:38	GMT	25	82.7800	XLON	963061196275774
26/03/2024	11:53:35	GMT	48	82.7800	XLON	963061196275798
26/03/2024	12:03:39	GMT	48	82.8400	XLON	963061196276214
26/03/2024	12:05:23	GMT	7	82.8400	XLON	963061196276352
26/03/2024	12:05:23	GMT	108	82.8400	XLON	963061196276351
26/03/2024	12:15:10	GMT	144	82.8400	XLON	963061196276936
26/03/2024	12:29:09	GMT	15	82.7600	XLON	963061196277587
26/03/2024	12:29:09	GMT	34	82.7600	XLON	963061196277588
26/03/2024	12:29:09	GMT	110	82.7800	XLON	963061196277577
26/03/2024	12:34:57	GMT	48	82.7200	XLON	963061196277986
26/03/2024	12:40:21	GMT	44	82.7800	XLON	963061196278272
26/03/2024	12:42:03	GMT	41	82.7600	XLON	963061196278476
26/03/2024	12:53:55	GMT	8	82.9400	XLON	963061196279036
26/03/2024	12:54:32	GMT	3	82.9600	XLON	963061196279062
26/03/2024	12:54:32	GMT	8	82.9600	XLON	963061196279060
26/03/2024	12:54:32	GMT	18	82.9600	XLON	963061196279061
26/03/2024	12:54:32	GMT	53	82.9600	XLON	963061196279058
26/03/2024	12:54:32	GMT	60	82.9600	XLON	963061196279059
26/03/2024	12:55:51	GMT	54	82.9400	XLON	963061196279115
26/03/2024	13:03:29	GMT	20	82.8200	XLON	963061196279391
26/03/2024	13:08:38	GMT	53	82.9800	XLON	963061196279556
26/03/2024	13:08:38	GMT	58	82.9800	XLON	963061196279555
26/03/2024	13:15:35	GMT	118	82.9400	XLON	963061196279869
26/03/2024	13:20:40	GMT	64	82.8600	XLON	963061196280154
26/03/2024	13:24:17	GMT	26	82.7800	XLON	963061196280409
26/03/2024	13:25:20	GMT	78	82.7200	XLON	963061196280492
26/03/2024	13:30:15	GMT	90	82.7600	XLON	963061196281108
26/03/2024	13:34:24	GMT	19	82.9400	XLON	963061196281913
26/03/2024	13:35:21	GMT	8	82.9800	XLON	963061196282034
26/03/2024	13:35:21	GMT	12	82.9800	XLON	963061196282035
26/03/2024	13:35:21	GMT	21	82.9800	XLON	963061196282033
26/03/2024	13:35:21	GMT	27	82.9800	XLON	963061196282032
26/03/2024	13:35:21	GMT	60	82.9800	XLON	963061196282026
26/03/2024	13:37:27	GMT	11	83.0400	XLON	963061196282281
26/03/2024	13:37:27	GMT	46	83.0400	XLON	963061196282280
26/03/2024	13:40:24	GMT	65	83.1200	XLON	963061196282719
26/03/2024	13:43:35	GMT	42	83.2400	XLON	963061196283158
26/03/2024	13:45:21	GMT	80	83.3400	XLON	963061196283388
26/03/2024	13:46:18	GMT	44	83.2200	XLON	963061196283446
26/03/2024	13:48:27	GMT	74	83.0400	XLON	963061196283660
26/03/2024	13:53:02	GMT	6	83.1200	XLON	963061196284058
26/03/2024	13:53:02	GMT	7	83.1200	XLON	963061196284057
26/03/2024	13:53:02	GMT	52	83.1200	XLON	963061196284059
26/03/2024	13:53:47	GMT	43	83.1000	XLON	963061196284094
26/03/2024	13:53:56	GMT	47	83.0600	XLON	963061196284103
26/03/2024	13:58:34	GMT	41	83.0400	XLON	963061196284474
26/03/2024	13:59:48	GMT	36	83.0400	XLON	963061196284575
26/03/2024	14:02:10	GMT	44	83.1000	XLON	963061196284896
26/03/2024	14:05:02	GMT	86	83.2800	XLON	963061196285161
26/03/2024	14:07:26	GMT	43	83.2200	XLON	963061196285401
26/03/2024	14:10:56	GMT	42	83.2800	XLON	963061196285818
26/03/2024	14:18:25	GMT	5	83.4400	XLON	963061196287048
26/03/2024	14:18:25	GMT	21	83.4400	XLON	963061196287047
26/03/2024	14:18:25	GMT	50	83.4400	XLON	963061196287046
26/03/2024	14:18:25	GMT	5	83.4600	XLON	963061196287036
26/03/2024	14:18:25	GMT	121	83.4600	XLON	963061196287037
26/03/2024	14:20:56	GMT	45	83.4800	XLON	963061196287547
26/03/2024	14:20:57	GMT	8	83.4600	XLON	963061196287559
26/03/2024	14:20:57	GMT	44	83.4600	XLON	963061196287558
26/03/2024	14:25:17	GMT	47	83.4600	XLON	963061196287955
26/03/2024	14:25:37	GMT	80	83.4200	XLON	963061196287971
26/03/2024	14:31:25	GMT	70	83.4400	XLON	963061196288565
26/03/2024	14:35:27	GMT	52	83.5400	XLON	963061196289113
26/03/2024	14:35:27	GMT	95	83.5400	XLON	963061196289112
26/03/2024	14:36:27	GMT	45	83.5800	XLON	963061196289275
26/03/2024	14:36:45	GMT	43	83.5800	XLON	963061196289313
26/03/2024	14:38:45	GMT	48	83.6400	XLON	963061196289607
26/03/2024	14:39:53	GMT	20	83.5400	XLON	963061196289751
26/03/2024	14:39:53	GMT	18	83.5600	XLON	963061196289753
26/03/2024	14:39:53	GMT	32	83.5600	XLON	963061196289754
26/03/2024	14:39:53	GMT	45	83.5600	XLON	963061196289752
26/03/2024	14:39:53	GMT	46	83.6200	XLON	963061196289741
26/03/2024	14:42:03	GMT	43	83.4800	XLON	963061196290059
26/03/2024	14:44:29	GMT	21	83.4400	XLON	963061196290236
26/03/2024	14:44:29	GMT	27	83.4400	XLON	963061196290237
26/03/2024	14:45:02	GMT	9	83.4400	XLON	963061196290273
26/03/2024	14:45:02	GMT	37	83.4400	XLON	963061196290274
26/03/2024	14:47:49	GMT	46	83.4400	XLON	963061196290546
26/03/2024	14:48:44	GMT	41	83.4000	XLON	963061196290656
26/03/2024	14:50:24	GMT	35	83.4800	XLON	963061196290931
26/03/2024	14:51:00	GMT	30	83.4800	XLON	963061196291039
26/03/2024	14:51:00	GMT	44	83.4800	XLON	963061196291040
26/03/2024	14:51:00	GMT	59	83.4800	XLON	963061196291037
26/03/2024	14:52:38	GMT	41	83.5400	XLON	963061196291230
26/03/2024	14:56:59	GMT	82	83.5600	XLON	963061196291755
26/03/2024	14:56:59	GMT	108	83.5600	XLON	963061196291754
26/03/2024	14:57:09	GMT	50	83.5400	XLON	963061196291774
26/03/2024	14:58:13	GMT	9	83.5000	XLON	963061196291927
26/03/2024	14:58:13	GMT	50	83.5000	XLON	963061196291926
26/03/2024	14:58:13	GMT	46	83.5200	XLON	963061196291920
26/03/2024	15:03:26	GMT	185	83.6600	XLON	963061196292931
26/03/2024	15:04:04	GMT	109	83.6600	XLON	963061196293005
26/03/2024	15:08:21	GMT	42	83.5600	XLON	963061196293420
26/03/2024	15:09:29	GMT	28	83.5600	XLON	963061196293490
26/03/2024	15:09:29	GMT	107	83.5600	XLON	963061196293491
26/03/2024	15:10:28	GMT	108	83.5200	XLON	963061196293575
26/03/2024	15:12:27	GMT	101	83.3400	XLON	963061196293953
26/03/2024	15:13:40	GMT	41	83.3600	XLON	963061196294158
26/03/2024	15:16:00	GMT	12	83.2400	XLON	963061196294446
26/03/2024	15:16:00	GMT	27	83.2400	XLON	963061196294447
26/03/2024	15:16:00	GMT	41	83.2400	XLON	963061196294445
26/03/2024	15:16:00	GMT	35	83.2600	XLON	963061196294434
26/03/2024	15:16:00	GMT	57	83.2600	XLON	963061196294433
26/03/2024	15:19:52	GMT	43	83.3800	XLON	963061196295113
26/03/2024	15:21:02	GMT	8	83.3800	XLON	963061196295241
26/03/2024	15:21:02	GMT	20	83.3800	XLON	963061196295240
26/03/2024	15:21:02	GMT	24	83.3800	XLON	963061196295243
26/03/2024	15:21:02	GMT	44	83.3800	XLON	963061196295242
26/03/2024	15:21:02	GMT	58	83.4200	XLON	963061196295223
26/03/2024	15:24:10	GMT	67	83.4200	XLON	963061196295524
26/03/2024	15:26:22	GMT	52	83.4600	XLON	963061196295741
26/03/2024	15:27:30	GMT	47	83.5200	XLON	963061196295944
26/03/2024	15:29:26	GMT	41	83.4000	XLON	963061196296179
26/03/2024	15:29:26	GMT	52	83.4400	XLON	963061196296172
26/03/2024	15:29:33	GMT	41	83.3600	XLON	963061196296199
26/03/2024	15:32:04	GMT	46	83.3600	XLON	963061196296414
26/03/2024	15:34:01	GMT	3	83.3400	XLON	963061196296603
26/03/2024	15:34:01	GMT	103	83.3400	XLON	963061196296604
26/03/2024	15:35:11	GMT	47	83.3400	XLON	963061196296739
26/03/2024	15:38:22	GMT	15	83.3000	XLON	963061196297064
26/03/2024	15:38:22	GMT	44	83.3000	XLON	963061196297065
26/03/2024	15:40:40	GMT	27	83.3200	XLON	963061196297511
26/03/2024	15:40:40	GMT	55	83.3200	XLON	963061196297512
26/03/2024	15:43:23	GMT	84	83.3600	XLON	963061196297829
26/03/2024	15:44:53	GMT	16	83.3200	XLON	963061196297945
26/03/2024	15:44:53	GMT	32	83.3200	XLON	963061196297944
26/03/2024	15:44:53	GMT	66	83.3200	XLON	963061196297942
26/03/2024	15:47:12	GMT	13	83.3200	XLON	963061196298186
26/03/2024	15:47:12	GMT	62	83.3200	XLON	963061196298187
26/03/2024	15:49:43	GMT	15	83.2400	XLON	963061196298574
26/03/2024	15:49:57	GMT	4	83.2200	XLON	963061196298623
26/03/2024	15:49:57	GMT	21	83.2200	XLON	963061196298622
26/03/2024	15:49:57	GMT	43	83.2200	XLON	963061196298621
26/03/2024	15:49:57	GMT	29	83.2400	XLON	963061196298614
26/03/2024	15:53:17	GMT	10	83.2000	XLON	963061196299001
26/03/2024	15:53:17	GMT	31	83.2000	XLON	963061196299000
26/03/2024	15:54:20	GMT	4	83.2200	XLON	963061196299156
26/03/2024	15:54:55	GMT	50	83.2200	XLON	963061196299194
26/03/2024	15:57:12	GMT	120	83.2200	XLON	963061196299486
26/03/2024	15:59:50	GMT	70	83.2200	XLON	963061196299757
26/03/2024	16:04:54	GMT	50	83.2800	XLON	963061196300233
26/03/2024	16:04:54	GMT	50	83.2800	XLON	963061196300240
26/03/2024	16:04:54	GMT	134	83.2800	XLON	963061196300241
26/03/2024	16:07:57	GMT	40	83.3200	XLON	963061196300654
26/03/2024	16:07:57	GMT	100	83.3600	XLON	963061196300642
26/03/2024	16:12:17	GMT	60	83.4000	XLON	963061196301128
26/03/2024	16:13:23	GMT	57	83.4600	XLON	963061196301325
26/03/2024	16:15:28	GMT	10	83.4400	XLON	963061196301654
26/03/2024	16:15:28	GMT	41	83.4400	XLON	963061196301652
26/03/2024	16:15:28	GMT	55	83.4400	XLON	963061196301653
26/03/2024	16:15:28	GMT	95	83.4600	XLON	963061196301646
26/03/2024	16:19:01	GMT	50	83.3800	XLON	963061196302242
26/03/2024	16:20:03	GMT	81	83.4400	XLON	963061196302366
26/03/2024	16:20:16	GMT	82	83.4200	XLON	963061196302426
26/03/2024	16:23:24	GMT	42	83.4800	XLON	963061196303019
26/03/2024	16:23:24	GMT	103	83.4800	XLON	963061196303008
26/03/2024	16:23:43	GMT	66	83.4600	XLON	963061196303073
26/03/2024	16:25:47	GMT	1	83.4200	XLON	963061196303417
26/03/2024	16:25:47	GMT	46	83.4200	XLON	963061196303418
26/03/2024	16:26:58	GMT	13	83.4000	XLON	963061196303646
26/03/2024	16:26:58	GMT	35	83.4000	XLON	963061196303647
26/03/2024	16:28:47	GMT	41	83.4000	XLON	963061196303989
26/03/2024	16:28:47	GMT	71	83.4000	XLON	963061196303992
26/03/2024	16:29:34	GMT	35	83.4000	XLON	963061196304235
26/03/2024	16:29:44	GMT	1	83.4000	XLON	963061196304290
26/03/2024	16:29:44	GMT	2	83.4000	XLON	963061196304291
26/03/2024	16:29:44	GMT	6	83.4000	XLON	963061196304288
26/03/2024	16:29:44	GMT	8	83.4000	XLON	963061196304289
26/03/2024	16:29:44	GMT	10	83.4000	XLON	963061196304292

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SOURCE: InterContinental Hotels Group PLC

View the original press release on accesswire.com

FAQ

How many ordinary shares did InterContinental Hotels Group PLC purchase?

InterContinental Hotels Group PLC purchased 10,000 ordinary shares.

At what prices did InterContinental Hotels Group PLC buy its own shares?

InterContinental Hotels Group PLC bought its own shares at prices ranging from £82.1000 to £83.6600 per share.

What is the total number of ordinary shares InterContinental Hotels Group PLC has after the purchase?

After the purchase, InterContinental Hotels Group PLC has 164,246,233 ordinary shares in issue.

Which investment firm facilitated the purchase of InterContinental Hotels Group PLC's shares?

The purchase of InterContinental Hotels Group PLC's shares was facilitated by Goldman Sachs International.

Will the purchased shares be canceled by InterContinental Hotels Group PLC?

Yes, InterContinental Hotels Group PLC intends to cancel the purchased shares.