ICG Enterprise Trust plc Share Buyback Overview
ICG Enterprise Trust plc (the “Company”) has made a significant announcement regarding its share buyback strategy. On a specific date, the Company initiated the repurchase of 15,000 of its own shares. These shares are intended to be held as treasury stock, with the average buying price set at 1317 pence each.
Details of the Buyback Transaction
Following this recent purchase, the Company now holds a total of 8,597,808 shares as treasury shares. In addition, the total number of shares available in the market, excluding those held in treasury, is 64,315,192. These details are crucial for investors and shareholders to understand the current share structure.
Authority for Share Repurchase
The authority to repurchase these shares was granted by shareholders during the Annual General Meeting held in June, which allows the Company to buy back up to 14.99% of its ordinary shares. However, it's important to note that the actual number repurchased will be influenced by market conditions.
Intentions Post-Buyback
The Company does not have a predetermined maximum price for the shares repurchased; however, it must adhere to guidelines that prevent purchasing at a price exceeding the net asset value. As of now, the plan is to keep any repurchased shares in treasury rather than reissuing them to the market.
Brokerage Partnership
To facilitate these transactions, ICG Enterprise Trust plc has appointed Numis Securities Limited, which operates under the name Deutsche Numis, as its broker. This partnership ensures compliance with the UKLA Listing Rules and the general framework under which the Company can buy back shares.
Communication with Stakeholders
For any inquiries related to this transaction or other shareholder matters, stakeholders can reach out to the following individuals:
Chris Hunt
Shareholder Relations, ICG
+44 (0) 20 3545 2020
Andrew Lewis
Company Secretary, ICG
+44 (0) 20 3545 1344
Media Relations
Media queries can be directed to Catherine Armstrong in Corporate Communications
Company representative at ICG
+44 (0) 20 3545 1850
Frequently Asked Questions
What is the motive behind ICG Enterprise Trust plc’s share buyback?
The buyback is intended to manage share capital and enhance shareholder value by holding shares as treasury stock.
How many shares does ICG Enterprise Trust plc currently hold as treasury shares?
After the latest transaction, the Company currently holds 8,597,808 shares as treasury shares.
What was the average price paid for the repurchased shares?
The average price for the 15,000 shares repurchased was 1317 pence per share.
What percentage of the Company's shares can be repurchased under current authority?
The current authority allows the Company to repurchase up to 14.99% of its ordinary shares.
Who is responsible for executing the share buyback transactions?
Numis Securities Limited, trading as Deutsche Numis, has been appointed as the broker for executing these buyback transactions.
