Last checked at 18 Dec 2018 07:00
InterContinental Hotels Group PLC ("IHG" or the "Company")
Share Repurchase in connection with the proposed Special Dividend and Share Consolidation
IHG published a circular (the "Circular") on 14 December 2018 which contained notice of its General Meeting and provided further details of the Company's proposed US$500m Special Dividend and Share Consolidation. In anticipation of the Share Consolidation, and as outlined in the Circular, IHG today announces that it has engaged Goldman Sachs International ("Goldman Sachs") in relation to its programme for the purchase, during the period which commences today and ends no later than 19 December 2018, of 10 ordinary shares of 19 17/21 pence each in the capital of IHG ("Shares") for cancellation (the "Programme"), to ensure the number of the Company's existing shares is divisible by the consolidation ratio proposed for the Share Consolidation.
The aggregate purchase price of all Shares acquired under the Programme will be no greater than £500. The purpose of the Programme is to reduce the share capital of IHG.
Any acquisitions of Shares under the Programme will be effected in accordance with certain pre-set parameters set out in an agreement between IHG and Goldman Sachs International, and in accordance with IHG's general authority to repurchase Shares granted by its shareholders on 4 May 2018, the EU Market Abuse Regulation (596/2014), the Commission Delegated Regulation (2016/1052) and Chapter 12 of the Financial Conduct Authority's Listing Rules. IHG confirms that it currently has no unpublished price sensitive information.
All definitions used in the Circular dated 14 December 2018 have the same meaning when used in this announcement.
For further information
Investor Relations (Heather Wood; Matthew Kay) | +44 (0)1895 512 176 | +44 (0)7527 419 431 |
Media Relations (Yasmin Diamond; Mark Debenham) | +44 (0)1895 512 097 | +44 (0)7527 424 046 |
Notes to editors
IHG® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of hotel brands, including Regent Hotels & Resorts, InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants, Hotel Indigo®, EVEN® Hotels, HUALUXE® Hotels and Resorts, Crowne Plaza® Hotels & Resorts, voco™, Holiday Inn®, Holiday Inn Express®, Holiday Inn Club Vacations®, Holiday Inn Resort®, avid® hotels, Staybridge Suites® and Candlewood Suites®.
IHG franchises, leases, manages or owns more than 5,500 hotels and approximately 826,000 guest rooms in almost 100 countries, with more than 1,800 hotels in its development pipeline. IHG also manages IHG® Rewards Club, our global loyalty programme, which has more than 100 million enrolled members.
InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales. More than 375,000 people work across IHG's hotels and corporate offices globally.
Visit www.ihg.com for hotel information and reservations and www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news, visit: www.ihgplc.com/media and follow us on social media at: www.twitter.com/ihg, www.facebook.com/ihg and www.youtube.com/ihgplc.