ICG Enterprise Trust’s latest share buyback, explained
ICG Enterprise Trust plc has announced a buyback of its own shares as part of its ongoing focus on building long-term value for shareholders. On the day of the transaction, the Company repurchased 10,000 shares, which will be held in treasury rather than cancelled.
What was bought and the current share count
The average price paid was 1180 pence per share, reflecting a disciplined approach to capital deployment. After this purchase, the Company now holds 7,796,133 shares in treasury. Once this trade settles, the total number of shares in issue, excluding those treasury shares, will be 65,116,867.
Holding shares in treasury keeps them out of circulation for voting and dividend purposes, while preserving flexibility for the Company to use them in the future if appropriate.
Where the buyback authority comes from
The repurchase programme is being carried out under the authority granted by shareholders at the Company’s Annual General Meeting in mid-2024. That authority permits the Company to buy back up to 14.99% of its ordinary share capital. The pace and size of actual buybacks will vary with market conditions.
How the buyback will be executed
The Company hasn’t set a maximum total consideration for the programme. However, it will not purchase shares at a price above their net asset value. Any shares repurchased are intended to be held in treasury. This approach is aimed at maintaining a resilient capital structure while keeping options open for potential future corporate actions.
Who’s executing the trades and how compliance is managed
ICG Enterprise Trust has appointed Numis Securities Limited, trading as Deutsche Numis, as its broker to execute the buyback. The arrangement is designed to ensure dealings are carried out in line with the UKLA Listing Rules and other applicable regulatory requirements.
Staying in touch
The Company recognises the importance of clear, timely communication with investors, analysts, and other stakeholders. If you have questions about the buyback or related matters, please get in touch with:
Contact Information
Chris Hunt
Shareholder Relations, ICG
+44 (0) 20 3545 2020
Andrew Lewis
Company Secretary, ICG
+44 (0) 20 3545 1344
Media Contact:
Catherine Armstrong
Corporate Communications, ICG
+44 (0) 20 3545 1850
Frequently Asked Questions
Why is ICG Enterprise Trust buying back its own shares?
The Company is using buybacks as a tool to support long-term shareholder value and to keep its capital structure efficient. Holding repurchased shares in treasury also preserves flexibility for future corporate actions.
How many shares did the Company repurchase this time?
It bought back 10,000 shares, which will be held in treasury. After settlement, shares in issue excluding treasury shares will be 65,116,867.
What price did ICG Enterprise Trust pay per share?
The average price paid was 1180 pence per share, consistent with a disciplined approach that includes not paying more than net asset value.
Who is carrying out the buyback on behalf of the Company?
Numis Securities Limited, trading as Deutsche Numis, is the appointed broker for the buyback, executing transactions in line with UKLA Listing Rules.
What does it mean for shares to be held in treasury?
Treasury shares are not counted when calculating earnings per share and don’t receive dividends. Keeping shares in treasury can give the Company flexibility for future use, should circumstances warrant it.
