Holiday Inn 2014 Annual Report Download - page 151

27. Equity
Equity share capital
Number of
shares
millions
Nominal
value
$m
Share
premium
$m
Equity
share
capital
$m
Allotted, called up and fully paid
At 1 January 2012 (ordinary shares of 1329⁄47p each) 290 61 101 162
Share capital consolidation (19) –––
Issued on exercise of share options 11910
Repurchased and cancelled under repurchase programme (4) (1) –(1)
Exchange adjustments –268
At 31 December 2012 (ordinary shares of 14194 ⁄329p each) 268 63 116 179
Issued on exercise of share options 1–55
Exchange adjustments –235
At 31 December 2013 (ordinary shares of 14194⁄329p each) 269 65 124 189
Share capital consolidation (20) –––
Repurchased and cancelled under repurchase programme (1) –––
Exchange adjustments –(4) (7) (11)
At 31 December 2014 (ordinary shares of 15265⁄329p each) 248 61 117 178
The Company was incorporated and registered in England and Wales with registered number 5134420 on 21 May 2004 as a limited
company under the Companies Act 1985 with the name Hackremco (No. 2154) Limited. On 24 March 2005 Hackremco (No. 2154)
Limited changed its name to New InterContinental Hotels Group Limited. On 27 April 2005 New InterContinental Hotels Group Limited
re-registered as a public limited company and changed its name to New InterContinental Hotels Group PLC. On 27 June 2005 New
InterContinental Hotels Group PLC changed its name to InterContinental Hotels Group PLC.
On 7 August 2012, the Company announced a $1bn return of funds to shareholders comprising a $500m special dividend with share
consolidation and a $500m share repurchase programme. The share consolidation was approved on 8 October 2012 at a General Meeting
(GM) of the Company and became effective on 9 October 2012 on the basis of 14 new ordinary shares of 14194 ⁄329p each for every 15 existing
ordinary shares of 1329⁄47p each. The special dividend of 172.0¢ per share was paid to shareholders on 22 October 2012 at a total cost of
$505m. Under the authority granted by shareholders at the GM on 8 October 2012, the share repurchase programme commenced. In the
year to 31 December 2014, 3.4m (2013 9.8m, 2012 4.1m) shares were repurchased for a consideration of $110m (2013 $283m, 2012 $107m),
increasing the total amount repurchased to $500m and completing the programme. Of the 3.4m (2013 9.8m, 2012 4.1m) shares repurchased
in 2014, 2.7m (2013 9.8m, 2012 nil) are held as treasury shares and 0.7m (2013 nil, 2012 4.1m) were cancelled. The cost of treasury shares has
been deducted from retained earnings.
The authority given to the Company at the GM held on 30 June 2014 to purchase its own shares was still valid at 31December 2014.
Aresolution to renew the authority will be put to shareholders at the Annual General Meeting on 8 May 2015.
On 6 August 2013, the Company announced a special dividend of 133.0¢ per share amounting to $355m which was paid to shareholders
on 4 October 2013.
On 2 May 2014, the Company announced a $750m return to shareholders by way of a special dividend and share consolidation. On 30 June
2014, shareholders approved the share consolidation at a GM of the Company on the basis of 12 new ordinary shares of 15265/329p per share
for every 13 existing ordinary shares of 14194/329p each, which became effective on 1 July 2014. The special dividend of 293.0¢ per share was
paid to shareholders on 14 July 2014, at a total cost of $763m.
As a result of the 2014 share consolidation, the number of shares held in treasury reduced from 12.5m to 11.5m.
The balance classified as equity share capital includes the total net proceeds (both nominal value and share premium) on issue of the
Company’s equity share capital, comprising 15265/329p shares. The share premium reserve represents the amount of proceeds received
for shares in excess of their nominal value.
The Company no longer has an authorised share capital.
STRATEGIC REPORT GOVERNANCE
GROUP FINANCIAL STATEMENTS
PARENT COMPANY FINANCIAL STATEMENTS
ADDITIONAL INFORMATION
149