20
February 2024
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
20340/399 pence each in the Company ("Shares") with aggregate value of up to
USD 800 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 ("GSI") in
relation to the purchase by GSI, acting as principal and in
accordance with certain pre-set parameters, of Shares. Under this
agreement, the Company has instructed GSI to purchase Shares with
value of up to USD 800 million. Purchases of the Company's Shares
pursuant to the Programme will commence immediately and will end no
later than 27 December 2024. GSI 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 GSI 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 GSI will be on-sold by GSI to the
Company, and any purchases of Shares by the Company from GSI 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 the 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 5 May
2023 (the "2023 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 2023 Authority
is 10,402,958 (taking into account Shares purchased by the Company
prior to 20 February 2024). Purchases of Shares by GSI 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: Mike Ward (+44 (0)7795 257
407)
About IHG Hotels & Resorts:
IHG Hotels & Resorts [LON:IHG, NYSE:IHG (ADRs)] is a global hospitality company,
with a purpose to provide True Hospitality for Good.
With a family of 19 hotel brands and
IHG One Rewards, one of the
world's largest hotel loyalty programmes, IHG has over 6,200 open
hotels in more than 100 countries, and nearly 2,000 in the
development pipeline.
· Luxury &
Lifestyle:
Six Senses Hotels Resorts Spas,
Regent Hotels & Resorts,
InterContinental Hotels & Resorts,
Vignette Collection,
Kimpton Hotels & Restaurants,
Hotel Indigo
· Premium:
voco hotels,
HUALUXE Hotels & Resorts,
Crowne Plaza Hotels & Resorts,
EVEN Hotels
· Essentials:
Holiday Inn Hotels & Resorts,
Holiday Inn Express,
Garner
hotels,
avid hotels
· Suites:
Atwell Suites,
Staybridge Suites,
Holiday Inn Club Vacations,
Candlewood Suites
· Exclusive
Partners: Iberostar
Beachfront Resorts
InterContinental Hotels Group PLC is
the Group's holding company and is incorporated and registered in
England and Wales. Approximately 345,000 people work across IHG's
hotels and corporate offices globally.
Visit us online for more about our
hotels and reservations and
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