InterContinental Hotels Group PLC Announces Share Repurchase Transaction

2 min read | November 21, 2024 12:02 AM PST | By Team Kalkine Media

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InterContinental Hotels Group PLC Announces Share Repurchase Transaction — Image source: Shutterstock

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Highlights:

The Company repurchased 20,000 ordinary shares through Goldman Sachs International on the London Stock Exchange.

The repurchased shares are planned for cancellation, reducing the total number of shares in circulation.

Following the repurchase, the Company now has 158,692,846 ordinary shares in issue, excluding those held in treasury.

InterContinental Hotels Group PLC (LSE:IHG) completed the repurchase of 20,000 of its ordinary shares through Goldman Sachs International ("GSI") on the London Stock Exchange. This transaction was executed in accordance with the authority granted by shareholders at the Company's Annual General Meeting held on 3 May 2024. The repurchase was also carried out pursuant to instructions issued by the Company on 20 February 2024, which were initially announced on the same date.

The repurchased shares were acquired at an average price of £94.9741 per share, with the lowest price paid being £94.4600 and the highest price at £95.5200. Following the completion of this purchase, the Company plans to cancel the repurchased shares, further reducing the total number of shares outstanding. This move is in line with the Company's ongoing strategy to manage its share capital.

After the repurchase and subsequent cancellation of the shares, the Company will have 158,692,846 ordinary shares in issue, excluding the 6,956,782 shares that are currently held in treasury. This reduction in the number of outstanding shares is expected to impact the overall share structure, with a focus on enhancing shareholder value.

For those seeking further details regarding the transactions, a full breakdown of the individual purchases made by Goldman Sachs International is available.

This repurchase aligns with the Company's commitment to managing capital efficiently and reflects a continued approach toward shareholder returns.

For more information, stakeholders can contact the Company’s Investor Relations or Media Relations teams at the provided contact details.

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