ICG Enterprise Trust plc Announces Share Buyback Progress

Author: Dylan Bailey Updated: 11-14-2024 02:15 AM

ICG Enterprise Trust plc Share Buyback Update

ICG Enterprise Trust plc announces it has recently undertaken a significant financial transaction involving the repurchase of shares. This strategic move is designed to enhance value for its shareholders and optimize the company’s capital structure.

Details of the Buyback

On a notable date, the Company bought back 15,000 of its own shares at an average price of 1252 pence per share. These shares will be maintained as treasury shares, showcasing the Company's strong commitment to its shareholders and its strategy to increase shareholder value.

Current Position of Shares

Following this latest buyback, the total number of shares held as treasury shares increased to 8,060,308. As a result of this transaction, the total shares in circulation, excluding treasury shares, stands at 64,852,692. This detailed accounting ensures transparency in share ownership and reinforces shareholder confidence.

Authority and Future Plans

The buyback was conducted under the authority granted by shareholders during the Annual General Meeting, which provides the Company the ability to repurchase up to 14.99% of its ordinary shares. It is important to note that the total number of shares repurchased can vary based on prevailing market conditions.

Investment Strategy Insights

While there is currently no predetermined maximum consideration for the share purchases, a crucial stipulation is that the Company will not pay more than the net asset value for these shares. The plan is to retain all repurchased shares in treasury, indicating a strong future-oriented strategy to leverage these holdings for further value creation.

Broker Engagement and Compliance

For the buyback transactions, ICG Enterprise Trust plc has engaged Numis Securities Limited, operating as Deutsche Numis, to act as its broker. This engagement aligns with the regulations set forth by UKLA Listing Rules and reflects the Company’s commitment to maintaining compliance with financial regulations.

Contact Information for Stakeholders

For further inquiries, 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 Relations:
Catherine Armstrong
Corporate Communications, ICG
+44 (0) 20 3545 1850

Frequently Asked Questions

What was the purpose of the buyback by ICG Enterprise Trust plc?

The buyback aims to enhance shareholder value and optimize the company's capital structure.

How many shares did the Company repurchase?

ICG Enterprise Trust plc repurchased 15,000 shares to be held as treasury shares.

How many treasury shares does the Company hold now?

After the repurchase, the total treasury shares held by the Company is 8,060,308.

What is the maximum percentage of shares ICG can repurchase?

The Company is authorized to repurchase up to 14.99% of its ordinary shares as granted by shareholders.

Who can investors contact for more information?

Investors can contact Chris Hunt or Andrew Lewis for shareholder-related inquiries or Catherine Armstrong for media inquiries.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

In addition to writing, I also host webinars and workshops, where I give presentations and share my knowledge with a wider audience. I also write for top financial journals and show up as a guest analyst on financial news shows. I like to travel, spend time with my family, and keep active by playing different sports when I'm not buried in market research.

My goal is to enable people to choose wisely and consciously in their investments, so taking charge of their financial futures. By my work, I hope to create a community of informed and self-assured investors prepared to take advantage of the chances presented by the stock market.

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