ICG Enterprise Trust Announces Share Buyback
ICG Enterprise Trust plc (the “Company”) has made significant strides in its investment strategy by officially announcing a recent buyback transaction. On 14 April 2025, the Company acquired 15,000 of its own shares, which will now be held as treasury shares, at an average purchase price of 1157 pence each.
Details of the Share Buyback
Following the settlement of the buyback, the Company now holds a total of 9,348,808 shares as treasury shares. This transaction has resulted in a total of 63,564,192 shares remaining in circulation, excluding treasury shares. This strategic move reflects the Company’s commitment to enhancing shareholder value and maintaining a robust capital structure.
Authority for Share Repurchases
This share repurchase was conducted under the authority granted by shareholders during the Annual General Meeting held in June 2024. The approval allows the Company to repurchase up to 14.99% of its ordinary shares, demonstrating a proactive management approach to capital allocation. As market conditions fluctuate, the precise number of shares repurchased may vary. The authority provided remains valid until the next shareholder meeting, anticipated to take place in 2025, unless revoked by the shareholders sooner.
Financial Considerations and Intentions
While there was no predetermined maximum price for this transaction, the Company is committed to ensuring that the price paid for the shares does not exceed the net asset value. Currently, the plan is to retain the repurchased shares in treasury rather than reissue them into the market, which emphasizes the Company’s cautious yet strategic approach to its capital management.
Brokerage and Compliance
In executing these buyback transactions, ICG Enterprise Trust has engaged Numis Securities Limited, operating under Deutsche Numis, as its broker. This measure ensures compliance with the UKLA Listing Rules and aligns with corporate governance principles. Clear regulations guide such transactions, reinforcing the Company’s integrity and commitment to ethical standards in all financial dealings.
Investor and Media Relations
For inquiries regarding this buyback and other investor-related questions, stakeholders can reach out to:
Chris Hunt
Shareholder Relations, ICG
+44 (0) 20 3545 2020
Andrew Lewis
Company Secretary, ICG
+44 (0) 20 3545 1344
Media inquiries can be directed to:
Clare Glynn
Corporate Communications, ICG
+44 (0) 20 3545 1395
Frequently Asked Questions
What is the purpose of the share buyback by ICG Enterprise Trust?
The buyback is designed to enhance shareholder value and manage the Company's capital structure effectively.
How many shares did ICG Enterprise Trust repurchase?
The Company bought back a total of 15,000 shares to be held as treasury shares.
What is the current number of treasury shares held by the Company?
After the buyback, the Company now holds 9,348,808 shares as treasury shares.
Who is the broker handling the buyback transactions for ICG?
Numis Securities Limited, trading as Deutsche Numis, is the broker responsible for the buyback transactions.
Can you explain the approval process for share repurchases?
The authority for repurchasing shares was granted during the Annual General Meeting in June 2024 and allows the Company to buy back up to 14.99% of its ordinary shares.
