Foresight Group Holdings Proactive in Share Buybacks
LEI: 213800NNT42FFIZB1T09
Foresight Group Holdings Limited, known as Foresight, is a prominent investment manager focusing on real assets and offering capital growth. Recently, the Group has completed a significant transaction as part of its new share buyback program which was announced earlier in the year.
Details of the Share Buyback
Under the terms of the recently initiated share buyback program, which is a strategic effort to bolster shareholder value, Foresight has executed the acquisition of 3,701 of its ordinary shares at varying price points. These transactions were conducted through the reputable broker Berenberg.
Key Transaction Details
The executed buyback on 18 November revealed essential transaction metrics:
Transaction Metrics
- Lowest price per share: 455.00 GBp
- Highest price per share: 465.50 GBp
- Volume-weighted average price paid: 462.81 GBp
These shares are now retained in the Group's treasury, which signifies that they will not possess voting rights during this period. It's noteworthy that a total of 2,327,471 ordinary shares have been repurchased under the new Buyback Programme.
Impact on Shareholder Structure
Following the latest transaction details, the overall count of Foresight's existing ordinary shares remains at 116,347,803. After the recent buybacks, 114,602,959 shares now hold voting rights, while 1,744,844 shares are classified as treasury shares, resulting in non-voting status. Shareholders can utilize this number to assess their respective interests within the Group in compliance with the FCA’s regulations on Disclosure Guidance.
Regulatory Compliance and Transparency
As per the UK version of Regulation (EU) No. 596/2014, comprehensive information surrounding individual trades executed by Berenberg must be transparently communicated. Foresight’s adherence to these regulations signifies its commitment to operational integrity and shareholder transparency.
Contact and Additional Information
For investors seeking further information, the following contacts are available:
Foresight Group Investors
Contact: Liz Scorer / Ben McGrory
Phone: +44 (0) 7966 966956 / +44 (0) 7443 821577
Email: ir@foresightgroup.eu
Berenberg (Joint Corporate Broker)
Contacts: James Felix / John Welch / Dan Gee-Summons
Phone: +44 (0) 203 753 7800
About Foresight Group Holdings Limited
Established in 1984, Foresight stands as a trailblazer in the investment management industry, primarily focused on real assets and facilitating growth. With a significant presence spanning the UK, Europe, and Australia, the Group employs its extensive experience to provide investors pathways toward lucrative opportunities at the forefront of industry advancements.
Foresight embraces its role in supporting the energy transition and driving nature recovery efforts, all the while unlocking the economic potential of forward-thinking companies. As a member of the FTSE 250 index, the firm brings a mix of financial and operational expertise, which it applies to enhance asset value and deliver considerable returns to its investors.
Foresight’s diverse portfolio includes a wide array of funds, combined with various solutions tailored for the retail market, all pivotal in addressing the changing needs of investors. The organization is united in its commitment to architecting a sustainable future and catalyzing long-term economic growth.
Frequently Asked Questions
What is the purpose of Foresight Group's share buyback program?
The share buyback program aims to enhance shareholder value and optimize the capital structure by reducing the number of shares in circulation.
How many shares did Foresight Group buy back recently?
Recently, Foresight Group bought back a total of 3,701 ordinary shares under its ongoing buyback program.
Who conducted the buyback transactions for Foresight Group?
The transactions were carried out by Berenberg, acting as the broker for the share buyback program.
What happens to the shares bought back by Foresight Group?
The shares purchased are held in treasury and will not hold voting rights until they are re-issued or canceled.
How does the share buyback affect existing shareholders?
The buyback reduces the total number of shares in circulation, which can potentially increase the value of remaining shares and benefit existing shareholders.
