InterContinental Hotels Group PLC Engages in Own Shares Activity

2 min read | October 28, 2024 12:30 AM PDT | By Team Kalkine Media

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InterContinental Hotels Group PLC Engages in Own Shares Activity — Image source: Shutterstock

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Highlights

The Company completed the acquisition of 32,604 ordinary shares on 25 October 2024.

The transaction was executed through Goldman Sachs International on the London Stock Exchange.

Following this acquisition, the Company has 158,986,840 ordinary shares in circulation, with 6,956,782 shares held in treasury.

On 25 October 2024, the Company executed the acquisition of 32,604 ordinary shares of 20340/399 pence each through Goldman Sachs International ("GSI") on the London Stock Exchange. This acquisition InterContinental Hotels Group PLC (LSE:IHG) aligns with the authority granted by shareholders during the Company's Annual General Meeting held on 3 May 2024. The instructions for this transaction were issued on 20 February 2024, as previously announced.

The execution of this acquisition involved a range of pricing, with the lowest price recorded at £84.4400 per share and the highest price reaching £85.4000. The average price across the shares acquired stood at £84.9401. In line with the Company’s strategic objectives, it has been decided that these acquired shares will be cancelled.

As a result of this transaction, the total number of ordinary shares in issue is now 158,986,840, while 6,956,782 shares remain held in treasury. This adjustment reflects the Company’s ongoing commitment to maintaining a disciplined approach to share management and optimizing its capital structure.

A detailed breakdown of the individual purchases made by GSI will be provided separately, ensuring transparency and clarity regarding the execution of this transaction. The Company remains focused on enhancing shareholder value through careful consideration of its share capital strategy while adhering to the guidelines established by the shareholders at the recent Annual General Meeting. This move is part of a broader strategy aimed at reinforcing the Company's position in the market and promoting overall financial stability.

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