Foresight Group Holdings Limited Announces Share Buyback Program
LEI: 213800NNT42FFIZB1T09
Foresight Group Holdings Limited, a prominent investment manager known for its focus on real assets, has revealed a significant development regarding its share buyback program. The initiative, which has been designed to enhance shareholder value, was recently disclosed following the group’s commitment to tactical financial strategies that respond to market dynamics.
Key Highlights of the Buyback Program
According to the announcement, Foresight has executed a carefully structured share buyback program. Through a partnership with Berenberg, one of the leading investment firms, the Group has successfully purchased a substantial number of its ordinary shares. This buyback strategy is aligned with their objective to manage capital efficiently while strengthening the market position.
Details of the Transaction
On the 7th of October, a total of 6,679 ordinary shares of £nil par value were acquired under this program. These shares were purchased at varying prices, with the lowest being 471.00 GBp and the highest at 479.50 GBp, showcasing both flexibility and responsiveness to market conditions. The weighted average price paid per share during this transaction stood at approximately 475.124046 GBp.
Treasury Shares and Voting Rights
Once the shares have been settled, they will be held in the treasury, meaning they will not carry any voting rights while in this status. As part of the overall scheme, the Group has, to date, repurchased an aggregate of 2,003,956 ordinary shares, significantly impacting the total share dynamics.
Current Share Structure
Following these transactions, of the total 116,347,803 ordinary shares currently issued, 114,926,474 shares maintain voting rights, while 1,421,329 shares are categorized as non-voting, residing in treasury. These figures are crucial for shareholders as they are used as the denominator for calculating their obligations concerning the FCA’s Disclosure Guidance and Transparency Rules.
Transparency in Trading Activities
In line with regulatory requirements, detailed insights into the trades executed by Berenberg as part of the buyback have been provided. This transparency ensures that stakeholders are informed about the activities pertaining to the ongoing share repurchase program.
Aggregate Information on Trades
As has been detailed, each trade involved an aggregation that highlights the venue and the volume-weighted average price, facilitating a comprehensive understanding of the share buyback’s context. The trading primarily took place on the London Stock Exchange (LSE), confirming Foresight’s commitment to maintaining high standards of corporate governance and operational integrity.
Communication and Investor Relations
Foresight Group values transparent communication with its investors. For further inquiries or detailed information, stakeholders can reach out to their dedicated investor relations team. Liz Scorer and Ben McGrory can be contacted at +44 (0) 7966 966956 or +44 (0) 7443 821577, or alternatively via email at ir@foresightgroup.eu.
About Foresight Group Holdings Limited
Founded in 1984, Foresight has established itself as a leading player in investment management focused on real assets. Operating across diverse regions including the UK, Europe, and Australia, Foresight leverages its extensive experience to provide investors with unique opportunities in high-impact sectors.
By emphasizing sustainable practices and supporting the energy transition, Foresight is not only committed to maximizing shareholder returns but also to fostering a more sustainable economic future. This approach places the Group in a unique position to harness investment opportunities that align with global changes, ensuring they remain at the forefront of innovative financial strategies.
Investors are encouraged to stay updated on the latest news and developments by following Foresight on LinkedIn. For more insights and information, visit https://foresight.group.
Frequently Asked Questions
What is the purpose of the share buyback program?
The share buyback program aims to enhance shareholder value by repurchasing shares, thereby managing capital and stabilizing the share price.
How many shares have been repurchased?
As of now, Foresight Group has repurchased 2,003,956 ordinary shares under the buyback program.
What are treasury shares?
Treasury shares are shares that are bought back by the company and held in reserve, which do not have voting rights while held in this status.
Who can investors contact for more information?
Investors can contact Liz Scorer or Ben McGrory at +44 (0) 7966 966956 or email ir@foresightgroup.eu.
What impact does this buyback have on voting rights?
With the repurchase, the total number of voting shares decreases, as the shares in treasury do not carry voting rights. Currently, 114,926,474 shares have voting rights.
