Last checked at 20 Apr 2017 16:00
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 4 April 2017 which contained notice of its Annual General Meeting and provided further details of the Company's proposed $400m Special Dividend and Share Consolidation. In anticipation of the Share Consolidation, and as outlined in the Circular, IHG today announces that it has engaged Merrill Lynch International ("Merrill Lynch") in relation to its programme for the purchase, during the period which commences today and ends no later than 24 April 2017, of 27 ordinary shares of 18 318/329 pence each in the capital of IHG ("Shares") for cancellation (the "Programme").
The aggregate purchase price of all Shares acquired under the Programme will be no greater than £1,100. 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 Merrill Lynch, and in accordance with IHG's general authority to repurchase Shares granted by its shareholders on 6 May 2016, 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 IHG confirms that it currently has no unpublished price sensitive information.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 4 April 2017 have the same meaning when used in this announcement.
For further information
Investor Relations (Heather Wood, Neeral Morzaria): | +44 (0)1895 512176 | +44 (0)7808 098724 |
Media Relations (Yasmin Diamond, Jovana Lakcevic): | +44 (0)1895 512008 | +44 (0)7736 746627 |
Notes for editors
IHG® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of hotel brands, including InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants, Hotel Indigo®, EVEN® Hotels, HUALUXE® Hotels and Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels & Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®.
IHG franchises, leases, manages or owns nearly 5,200 hotels and 770,000 guest rooms in almost 100 countries, with nearly 1,500 hotels in its development pipeline. IHG also manages IHG® Rewards Club, the world's first and largest hotel loyalty programme, with more than 100 million enrolled members worldwide.
InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales. More than 350,000 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.