Foresight Group's Share Buyback Program: Key Highlights
Recent Share Buyback Announcement
Foresight Group Holdings Limited, a prominent investment manager focused on real assets and growth capital, has made a significant move in its strategic initiatives by launching a new share buyback program. This program, which was introduced recently, aims to enhance shareholder value by repurchasing a portion of its ordinary shares, marking a pivotal moment for the Group, especially amidst changing market dynamics.
Details of the Share Buyback Program
The program has been designed to adjust the number of ordinary shares outstanding and providing support for the company's share price. As per the announcement, Foresight Group conducted its first purchase under this initiative on a recent date, acquiring 13,985 shares. These shares were purchased through JOH Berenberg, Gossler & Co KG, known for its expertise in facilitating such transactions.
Purchased Shares Overview
On the date of the purchase, the ordinary shares were bought at varying prices between 342.00 and 354.00 GBp, with a volume-weighted average price of approximately 351.88 GBp per share. This strategic buying showcases Foresight Group's commitment to delivering shareholder returns and optimizing its capital structure.
Impact on Ordinary Shares
Following the completion of the share buyback, these shares will be held in treasury, resulting in 2,818,375 shares being non-voting, with 113,529,428 shares retaining voting rights among the total 116,347,803 ordinary shares issued. This strategic maneuver ensures that shareholders have clarity on their voting power while enhancing the Group's financial flexibility.
Regulatory Compliance and Reporting
In alignment with regulatory obligations, detailed records of trades related to the share buyback process have been released, ensuring transparency and accountability. These reports provide vital insights into the transactions carried out by the company, bolstering investor confidence in Foresight Group's active management of its share capital.
Detailed Trade Information
All trades executed under the share buyback program have been aggregated, highlighting the volume-weighted average price and the overall transaction volume. This information serves as a foundational reference for stakeholders evaluating the effectiveness of the buyback initiative.
Future Implications of the Buyback
The implications of this buyback program are multifaceted; it not only reflects the company's robust financial health but also signals a commitment to enhancing shareholder value amidst fluctuating market conditions. This approach is crucial in attracting and retaining investors looking for stable opportunities in a dynamic investment environment.
About Foresight Group Holdings Limited
Foresight has established itself as a leader in the investment management sector, specializing in real assets and unwavering growth potential. Founded in 1984, Foresight operates across various regions, offering investors access to a rich array of investment opportunities. The Group’s strategies aim at promoting sustainable growth and economic recovery through its diversified funds and investment solutions tailored for a variety of market needs.
Foresight’s commitment to sustainability and its role as a responsible investor are at the heart of its operational ethos. The Group focuses on advancing solutions that contribute to the energy transition and the decarbonization of industries while ensuring economic resilience among its portfolio companies. This dedication positions Foresight as a strategic partner for investors looking to align their financial goals with sustainable practices.
For further information or inquiries, interested parties can reach out to:
Foresight Group Investors
Liz Scorer / Ben McGrory
+44 (0) 7966 966956 / +44 (0) 7443 821577
ir@foresightgroup.eu
Berenberg (Joint Corporate Broker)
James Felix / John Welch / Dan Gee-Summons
+44 (0) 203 753 7800
H-Advisors Maitland
Sam Cartwright / Audrey Da Costa
+44 (0) 782 725 4561 / +44 (0) 781 710 5562
Foresight@h-advisors.global
Frequently Asked Questions
What is the purpose of Foresight Group's share buyback program?
The program aims to enhance shareholder value by reducing the number of outstanding shares and supporting the share price.
How many shares did Foresight Group repurchase?
The Group repurchased 13,985 ordinary shares during its recent buyback initiative.
What was the range of prices for the repurchased shares?
The shares were bought at prices between 342.00 and 354.00 GBp, with an average price of approximately 351.88 GBp.
What happens to the repurchased shares?
The shares will be held in treasury, meaning they will not have voting rights but will be available for future transactions as needed.
How can investors gather more information about Foresight Group?
Investors can visit the official Foresight Group website for additional updates and information on their investment strategies and initiatives.
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