InterContinental Hotels Group PLC Announces Transaction in Own Shares - June 11
InterContinental Hotels Group (IHG) announced the repurchase of 32,790 of its ordinary shares on June 10, 2024, through Goldman Sachs International.
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 (IHG) announced the repurchase of 32,790 of its ordinary shares on June 10, 2024, through Goldman Sachs International. The shares were bought at prices ranging from £78.94 to £79.62, with an average price of £79.41 per share. This action follows the authority granted by shareholders at the Annual General Meeting on May 3, 2024. After this transaction, the total number of shares in issue is 161,838,683, excluding 7,006,782 shares held in treasury. The company intends to cancel the purchased shares.
Positive
- Repurchased 32,790 shares, reducing outstanding shares and potentially increasing EPS.
- Executed share buyback at an average price of £79.41.
- Transaction authorized by shareholders during the Annual General Meeting.
- Total shares outstanding reduced to 161,838,683 (excluding treasury).
- Share cancellation indicates a possible return of value to shareholders.
Negative
- No new revenue or profit information provided.
- Share buyback might indicate lack of better investment opportunities.
- Ongoing expenses for share repurchases could impact cash reserves.
Details
News Market Reaction – IHG
The recorded move for IHG in the trading session of this news was +0.02%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Purchase of own shares
LONDON, UNITED KINGDOM / ACCESSWIRE / June 11, 2024 / The Company announces that on 10 June 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: | 10 June 2024 |
| Aggregate number of ordinary shares purchased: | 32,790 |
| Lowest price paid per share: | £ 78.9400 |
| Highest price paid per share: | £ 79.6200 |
| Average price paid per share: | £ 79.4124 |
The Company intends to cancel the purchased shares.
Following the above transaction, the Company has 161,838,683 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: 32,790 (ISIN: GB00BHJYC057)
Date of purchases: 10 June 2024
Investment firm: GSI
Aggregated information:
London Stock Exchange | Cboe BXE | Cboe CXE | Turquoise | |
Number of ordinary shares purchased | 32,790 | |||
Highest price paid (per ordinary share) | £ 79.6200 | |||
Lowest price paid (per ordinary share) | £ 78.9400 | |||
Volume weighted average price paid(per ordinary share) | £ 79.4124 |
Detailed information:
Transaction Date | Time | Time Zone | Volume | Price (GBP) | Trading Venue | Transaction ID |
10/06/2024 | 10:07:09 | BST | 52 | 79.1400 | XLON | 1010056728418436 |
10/06/2024 | 10:07:23 | BST | 52 | 79.1200 | XLON | 1010056728418449 |
10/06/2024 | 10:09:37 | BST | 52 | 79.1400 | XLON | 1010056728418603 |
10/06/2024 | 10:14:01 | BST | 52 | 79.2600 | XLON | 1010056728418867 |
10/06/2024 | 10:14:01 | BST | 52 | 79.2400 | XLON | 1010056728418868 |
10/06/2024 | 10:14:01 | BST | 52 | 79.2200 | XLON | 1010056728418871 |
10/06/2024 | 10:14:55 | BST | 5 | 79.2600 | XLON | 1010056728418922 |
10/06/2024 | 10:14:55 | BST | 42 | 79.2600 | XLON | 1010056728418923 |
10/06/2024 | 10:14:55 | BST | 5 | 79.2600 | XLON | 1010056728418924 |
10/06/2024 | 10:15:06 | BST | 52 | 79.2400 | XLON | 1010056728418960 |
10/06/2024 | 10:15:30 | BST | 47 | 79.2200 | XLON | 1010056728418987 |
10/06/2024 | 10:15:30 | BST | 5 | 79.2200 | XLON | 1010056728418988 |
10/06/2024 | 10:15:40 | BST | 52 | 79.2400 | XLON | 1010056728418996 |
10/06/2024 | 10:16:33 | BST | 52 | 79.2800 | XLON | 1010056728419055 |
10/06/2024 | 10:16:42 | BST | 22 | 79.2600 | XLON | 1010056728419059 |
10/06/2024 | 10:16:42 | BST | 30 | 79.2600 | XLON | 1010056728419060 |
10/06/2024 | 10:16:51 | BST | 52 | 79.2400 | XLON | 1010056728419078 |
10/06/2024 | 10:17:37 | BST | 52 | 79.1800 | XLON | 1010056728419137 |
10/06/2024 | 10:21:11 | BST | 52 | 79.2600 | XLON | 1010056728419398 |
10/06/2024 | 10:22:07 | BST | 52 | 79.3600 | XLON | 1010056728419434 |
10/06/2024 | 10:22:24 | BST | 52 | 79.3400 | XLON | 1010056728419463 |
10/06/2024 | 10:22:24 | BST | 52 | 79.3200 | XLON | 1010056728419467 |
10/06/2024 | 10:23:47 | BST | 52 | 79.3400 | XLON | 1010056728419552 |
10/06/2024 | 10:24:09 | BST | 52 | 79.3200 | XLON | 1010056728419569 |
10/06/2024 | 10:24:23 | BST | 40 | 79.3000 | XLON | 1010056728419578 |
10/06/2024 | 10:24:23 | BST | 12 | 79.3000 | XLON | 1010056728419579 |
10/06/2024 | 10:25:24 | BST | 52 | 79.2600 | XLON | 1010056728419643 |
10/06/2024 | 10:25:47 | BST | 52 | 79.2400 | XLON | 1010056728419651 |
10/06/2024 | 10:27:40 | BST | 52 | 79.2800 | XLON | 1010056728419792 |
10/06/2024 | 10:28:21 | BST | 52 | 79.2400 | XLON | 1010056728419847 |
10/06/2024 | 10:30:57 | BST | 14 | 79.1600 | XLON | 1010056728419975 |
10/06/2024 | 10:30:57 | BST | 24 | 79.1600 | XLON | 1010056728419976 |
10/06/2024 | 10:30:57 | BST | 9 | 79.1600 |