Foresight Group’s New Share Buyback Program Details
Foresight Group Holdings Limited Announces Share Buyback Details
Foresight Group Holdings Limited, a prominent investment manager focused on real assets and growth capital, has recently made noteworthy moves under its newly launched share buyback program. This initiative, first announced earlier this year, showcases Foresight's commitment to enhancing shareholder value and optimizing its capital structure.
Highlights of the Buyback Program
In accordance with its buyback plan, Foresight is procuring its ordinary shares with a par value of £nil. The company executed a significant purchase of 15,000 ordinary shares through its broker, JOH Berenberg, Gossler & Co KG, trading under the name Berenberg. This transaction exemplifies the Group's strategic intention to manage its capital efficiently and reinforce shareholder confidence.
Transaction Summary
The recent share acquisition occurred on August 6, resulting in an aggregate buyback of 15,000 shares at prices ranging between 459.00 GBp and 464.00 GBp. The volume-weighted average price for these shares was approximately 461.85 GBp. Following this purchase, a total of 1,325,164 shares have been repurchased under the current buyback program. These shares will be retained in treasury, thereby denying them voting rights during this period.
Impact on Voting Shares
Out of the total issued shares of 116,347,803, 112,420,643 remains as voting shares. The remaining 3,927,160 shares are held in treasury. Shareholders should be aware of this division as it serves as the basis for possible disclosures under the FCA’s Disclosure Guidance and Transparency Rules.
Transparent Trading Practices
Foresight aims for transparency in its trading practices, complying with all relevant regulations, including Article 5(1)(b) of the UK Regulation No. 596/2014. The details of individual trades executed by Berenberg during the buyback scheme have been made available for public scrutiny, demonstrating Foresight's commitment to responsible governance and accountability.
Aggregate Information on Trades
During the latest trading sessions, the share buybacks revealed an average price of 461.85 GBp, emphasizing the robust demand for Foresight's stock among investors. This structured approach not only solidifies Foresight's market standing but also reflects its proactive response to shareholder sentiment.
Continuous Growth and Commitment
Foresight Group, founded in 1984, boasts decades of experience in managing investment portfolios focused on real assets and opportunities for growth support across multiple regions, including the UK, Europe, and Australia. The Group's commitment lies in providing investors with access to promising investment opportunities amidst evolving market dynamics.
Investing in a Sustainable Future
Foresight firmly believes in contributing towards a sustainable future, focusing on investment solutions that facilitate energy transitions, industrial decarbonization, and biodiversity enhancement. With a diversified investment strategy, the Group remains a reliable constituent of the FTSE 250 index, combining financial acumen with operational expertise to deliver optimal asset value for its investors.
Upcoming Initiatives and Investor Engagement
Foresight’s management is poised to continue its engagement with investors, aiming to keep stakeholders informed about its strategies and future projects. The company encourages investors to follow them on LinkedIn for the latest updates and insights.
Frequently Asked Questions
What is the purpose of Foresight's share buyback program?
The share buyback program aims to enhance shareholder value by optimizing the capital structure and providing liquidity in the market.
How many shares has Foresight repurchased under the buyback program?
Foresight has repurchased a total of 1,325,164 ordinary shares as part of the current buyback program.
What is the average price paid per share during the buyback?
The volume-weighted average price paid per share during the last buyback transaction was approximately 461.85 GBp.
Are the repurchased shares still eligible for voting?
No, the shares held in treasury have no voting rights while they are retained by the Group.
How can investors stay updated on Foresight's initiatives?
Investors can follow Foresight on LinkedIn and subscribe to their updates for the latest news and initiatives from the company.
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