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IHG Intercontinental Hotels News Story

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REG - Interco. Hotels Grp - Share Buyback Programme

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RNS Number : 3304V  InterContinental Hotels Group PLC  09 August 2022

9 August 2022

 

InterContinental Hotels Group PLC (the "Company")

 

Purchase of own shares

 

 

 

The Company announces that it will commence a share buyback programme to
purchase ordinary shares of 20(340/399) pence each in the Company ("Shares")
with aggregate value of up to USD 500 million (the "Programme") in line with
its strategy to return surplus capital to shareholders.

 

In connection with the Programme, the Company has entered into an agreement
with Goldman Sachs International ("Goldman Sachs") in relation to the purchase
by Goldman Sachs, acting as principal and in accordance with certain pre-set
parameters, of Shares. Under this agreement, the Company has instructed
Goldman Sachs to purchase Shares with value of up to USD 500 million.
Purchases of the Company's Shares pursuant to the Programme will commence
immediately and will end no later than 31 January 2023. Goldman Sachs will
make trading decisions in relation to the Programme independently of, and
uninfluenced by, the Company with regard to the timing of the purchases. Any
purchase of Shares by Goldman Sachs contemplated by this announcement will be
carried out on the London Stock Exchange, Cboe Europe Limited through the BXE
and CXE order books and/or on Turquoise. Shares purchased by Goldman Sachs
will be on-sold by Goldman Sachs to the Company, and any purchases of Shares
by the Company from Goldman Sachs under the Programme will be carried out on
the London Stock Exchange.

 

The purpose of the Programme is to reduce the issued share capital and it is
expected that the first 4.5 million shares purchased will be held as treasury
shares and the balance of shares purchased will be cancelled.

 

Any purchases under the Programme shall take place in accordance with (and
subject to the limits prescribed by) the Company's general authority to
repurchase Shares granted by its shareholders at the Annual General Meeting on
6 May 2022 (the "2022 Authority") and any further authority to repurchase
Shares as may be granted by its shareholders from time to time and Chapter 12
of the Financial Conduct Authority's Listing Rules. The maximum number of
Shares that the Company is authorised to purchase under the 2022 Authority is
18,401,631. Purchases of Shares by Goldman Sachs under the Programme shall
take place in accordance with the Market Abuse Regulation (EU) No 596/2014 (as
in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit)
Regulations 2019) and the Commission Delegated Regulation (EU) No 2016/1052
(as in force in the UK and as amended by the FCA's Technical Standards (Market
Abuse Regulation) (EU Exit) Instrument 2019).

 

The Company will make further regulatory announcements to shareholders in
respect of purchases of Shares under the Programme as they occur.

 

 

For further information, please contact:

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:    Amy Shields (+44 (0)7881 035 550); Claire Scicluna (+44
(0)7776 778 808)

 

About IHG Hotels & Resorts:

 

IHG Hotels & Resorts
(https://urldefense.com/v3/__http:/email.investis.com/ls/click?upn=Zj6GEUiS1mM-2Bqqfp5r2hrnUSQ2p6m-2B5Oz5K-2BKxCnfcU-3DwPYT_ojq2lu66bX8JNKV7VmBiOZ2gLVi27eAYFqE40NVToEeeHiYKncxdBspif1mQlBK7ih-2B5rzYsrNnDqgQn1wszyhe5xRGUvld0NWW3KwpUnWtxiJsqB0ttFTF4eNwtEIP6b8ilG4i3OoyACaFJU5I83HKi99ynJRnSpgolNJN4-2FOUDtmJq13annvc4Fw6TlbTFMS3Jh9W42sySGyt0geqp-2BNghhIbdG-2B18Hgy16ASydRO3Z8ggaNZKdU4z5D-2BSD7vyRHJi52GygTZnc8gFMs7-2BsQ-3D-3D__;!!EOxaMA!CjjXZ7KAZ7idANJdcoLB7daWoS810tckeGbds16Y8bqw50-1iPUaVwYwmXEpK2jc$)
[LON:IHG, NYSE:IHG (ADRs)] is a global hospitality company, with a purpose to
provide True Hospitality for Good.

With a family of 17 hotel brands and IHG One Rewards
(https://urldefense.com/v3/__http:/email.investis.com/ls/click?upn=T-2Fn3OVRavEvfp-2BcwHA4A99imKpoqIJxvmXwKaaQPh-2F0-3DygFb_ojq2lu66bX8JNKV7VmBiOZ2gLVi27eAYFqE40NVToEeeHiYKncxdBspif1mQlBK7ih-2B5rzYsrNnDqgQn1wszyhe5xRGUvld0NWW3KwpUnWtxiJsqB0ttFTF4eNwtEIP6Oq8lyDW5KoQFtyJe-2Bm18YjgiHAhr23RBEd1PKOwFYY8z7PScBuJSe1ztaC6p56jTzGST-2Fvc-2BetCMz1pPnnGDUjyivzqA2pH29Vmiz8T-2BmmunkBHoR5LSxI1VjgVEsv7cApWyuKiG8-2BGNJnO5ejYTcA-3D-3D__;!!EOxaMA!CjjXZ7KAZ7idANJdcoLB7daWoS810tckeGbds16Y8bqw50-1iPUaVwYwmb01-ewc$)
, one of the world's largest hotel loyalty programmes, IHG has over 6,000 open
hotels in over 100 countries, and more than 1,800 in the development pipeline.

 

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, Hotel Indigo
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·      Premium: voco hotels
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, HUALUXE Hotels & Resorts
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, Crowne Plaza Hotels & Resorts
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, EVEN Hotels
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·      Essentials: Holiday Inn Hotels & Resorts
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, Holiday Inn Club Vacations
(https://urldefense.com/v3/__http:/email.investis.com/ls/click?upn=Zj6GEUiS1mM-2Bqqfp5r2hrlsv6wsYY7liQ1q8nYGExb6uQMAhiDivMnarIZ7tZMJj2mwvfuJyHJxN6vejW8-2FKNU6AD3jhGiHSLCyPrZMhVTM-3DGB7Y_ojq2lu66bX8JNKV7VmBiOZ2gLVi27eAYFqE40NVToEeeHiYKncxdBspif1mQlBK7ih-2B5rzYsrNnDqgQn1wszyhe5xRGUvld0NWW3KwpUnWtxiJsqB0ttFTF4eNwtEIP6FQbt9DbGPsSBE-2FvTquTgGtOuQMLaNES9vCjrGeaX11Oi9eNpLgebAnaFwP2V16hlyCpTfDMZiUEcANqPdmLV2jX6w-2Bjtf-2FvZc11fKMxIQSglNbjgR9HVZsYbEqmN6ZEbwe5uUqlsxoTz2V5UTpstXQ-3D-3D__;!!EOxaMA!CjjXZ7KAZ7idANJdcoLB7daWoS810tckeGbds16Y8bqw50-1iPUaVwYwmQaWQVSP$)
, Candlewood Suites
(https://urldefense.com/v3/__http:/email.investis.com/ls/click?upn=Zj6GEUiS1mM-2Bqqfp5r2hrlNH52gbQSZqRir4qQ2SFVp1Mkrx8qeEQdLFBJH8WpgLYz6GRuEJ-2FBsPPdmEeatb-2FQ-3D-3Dv4jb_ojq2lu66bX8JNKV7VmBiOZ2gLVi27eAYFqE40NVToEeeHiYKncxdBspif1mQlBK7ih-2B5rzYsrNnDqgQn1wszyhe5xRGUvld0NWW3KwpUnWtxiJsqB0ttFTF4eNwtEIP69C6HbVPy5PBK7Q-2BuX8zwomypNlcjY6EH7oLlzf87xNgkUSAIaiPYn6OvPqjekyZdZh-2FpJmIhEv831lTzpeJR217TzNOH4VkAvGXrj9SG0AjkB8WcUtOwaPGrVUkxkzTfa-2FXkvurRHAB3Dm5V071H8g-3D-3D__;!!EOxaMA!CjjXZ7KAZ7idANJdcoLB7daWoS810tckeGbds16Y8bqw50-1iPUaVwYwmfZgs10U$)

 

InterContinental Hotels Group PLC is the Group's holding company and is
incorporated and registered in England and Wales. Approximately 325,000 people
work across IHG's hotels and corporate offices globally.

Visit us online for more about our hotels and reservations
(https://urldefense.com/v3/__http:/email.investis.com/ls/click?upn=Zj6GEUiS1mM-2Bqqfp5r2hrqNC9iPq4IGnefM-2FYh5PkBJdy0-2FJML-2FF-2FJ7z-2BH0b5vtoCZTbkyUgQbeunI9SvA8eqw-3D-3D-noS_ojq2lu66bX8JNKV7VmBiOZ2gLVi27eAYFqE40NVToEeeHiYKncxdBspif1mQlBK7ih-2B5rzYsrNnDqgQn1wszyhe5xRGUvld0NWW3KwpUnWtxiJsqB0ttFTF4eNwtEIP6WyrOt6OCC0Qw6oYJ2SUfhm1mj0SLXdpwuYEywrIBvMuLnVABOwa5-2F3Zrxm82boR-2BDOrh-2BZSfjzHJngpM-2BELRIN8sYNw86xpt5GbfVByNwLBEekXNVIUBCmloZ9jARDZlLIC74-2B2hrccEkKKiv-2Br21g-3D-3D__;!!EOxaMA!CjjXZ7KAZ7idANJdcoLB7daWoS810tckeGbds16Y8bqw50-1iPUaVwYwmYdV9IFS$)
and IHG One Rewards
(https://urldefense.com/v3/__http:/email.investis.com/ls/click?upn=T-2Fn3OVRavEvfp-2BcwHA4A99imKpoqIJxvmXwKaaQPh-2F0-3DWRyg_ojq2lu66bX8JNKV7VmBiOZ2gLVi27eAYFqE40NVToEeeHiYKncxdBspif1mQlBK7ih-2B5rzYsrNnDqgQn1wszyhe5xRGUvld0NWW3KwpUnWtxiJsqB0ttFTF4eNwtEIP6kSr4ko-2BM9Eu7mq8uC-2B1gWU2lu7lZ9F3KUBQzoAjW-2BM2B7x2abfvFBRGOT5KW4dKXLIEETVYkwQpFVGAxjLdwsYFzsqjPnQWXBEONWyuCdFv86q7tctP-2BRlgdWXXUuXbCPjNKvA-2BQ8hKWqqB6PcFfAA-3D-3D__;!!EOxaMA!CjjXZ7KAZ7idANJdcoLB7daWoS810tckeGbds16Y8bqw50-1iPUaVwYwmZjOLg6A$)
. To download the new IHG One Rewards app, visit the Apple App
(https://apps.apple.com/us/app/ihg-hotel-deals-rewards/id368217298) or Google
Play (https://play.google.com/store/apps/details?id=com.ihg.apps.android)
stores.

 

For our latest news, visit our Newsroom
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and follow us on LinkedIn
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, Facebook
(https://urldefense.com/v3/__http:/email.investis.com/ls/click?upn=Zj6GEUiS1mM-2Bqqfp5r2hrnB7j7bbvpdiJRNAjLSFhbf9OHEzJvc7Sgqs6SxxYLcnnPxy_ojq2lu66bX8JNKV7VmBiOZ2gLVi27eAYFqE40NVToEeeHiYKncxdBspif1mQlBK7ih-2B5rzYsrNnDqgQn1wszyhe5xRGUvld0NWW3KwpUnWtxiJsqB0ttFTF4eNwtEIP6tQwAArRELAdNjNbzWHhGkJ7NFdjsTGcXW52SguEfowLjXekCWYdcGSCp3jA91brf-2BMHo-2FVjuwnwFvQp6OrIAXuifaThft-2F-2BfY-2BR3CnaZ15fV53t-2B9CA-2Bn2XYRkayLtuoYCcmdUe85VFu4y9vUF6Nkg-3D-3D__;!!EOxaMA!CjjXZ7KAZ7idANJdcoLB7daWoS810tckeGbds16Y8bqw50-1iPUaVwYwmXcaC-Qt$)
and Twitter
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.

 

 

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