DENHAM (dpa-AFX) - InterContinental Hotels Group plc (IHG.L, IHG), on Tuesday, said it would commence a share buyback programme to purchase ordinary shares of 20340/399 pence each in the company with an aggregate value of up to US$800 million in line with its strategy to return surplus capital to shareholders.
In connection with the share buyback programme, InterContinental has agreed with Goldman Sachs International (GSI) regarding the purchase of Shares by GSI as the principal in accordance with pre-set parameters. The company has instructed GSI to procure Shares valued at a maximum of US$800 million within the Programme. The Program is set to begin immediately and will conclude no later than 27 December 2024.
GSI will make independent trading decisions concerning the Programme, free from any influence by the company, in relation to the purchase's timing. Any purchase of Shares by GSI, as announced, will transpire on the London Stock Exchange, Cboe Europe Limited via 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.
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