ICG Enterprise Trust plc Announces Strategic Share Buyback
ICG Enterprise Trust plc Announces Share Buyback
ICG Enterprise Trust plc (the “Company”)
The Company recently made headlines with its strategic decision to buy back shares, signaling strong confidence in its operational standing.
Details of the Buyback Transaction
On March 11, 2025, ICG Enterprise Trust plc executed a notable buyback of 50,000 of its own shares, acquiring them at an average price of 1292 pence each. This proactive approach not only builds treasury shares but also illustrates the Company’s deliberate strategy to enhance shareholder value.
Current Shareholding Status
Following the successful completion of this buyback, the Company now holds 8,785,808 shares as treasury shares. The total number of shares outstanding, excluding these treasury shares, stands at 64,127,192. This clear delineation of shares reflects the meticulous tracking and management by the Company's governing bodies.
Authority and Future Vision
The buyback was carried out under the authority granted by shareholders during the Annual General Meeting held in June 2024. This authority allows for the repurchase of up to 14.99% of the ordinary shares, showcasing the flexibility that the Company maintains to adapt its shareholder capitalization strategies based on prevailing market conditions.
This authority, which is in effect until the next shareholder meeting in 2025 or until revoked, positions ICG Enterprise Trust plc wisely as it navigates the ever-evolving marketplace. This reflects not only a commitment to maximizing shareholder interests but also a response to the dynamic financial landscape.
Considerations for Future Transactions
While the Company has not set a maximum consideration for the buyback, it adheres to stringent guidelines which stipulate that the purchase price cannot exceed the net asset value. This prudent approach ensures that any shares bought back are held strictly in treasury, avoiding any adverse impacts on the Company’s asset base.
Broker Engagement Details
ICG Enterprise Trust plc has enlisted the expertise of Numis Securities Limited, operating as Deutsche Numis, to facilitate these buyback transactions. This partnership aligns with UKLA Listing Rules, ensuring compliance and strategic execution of share repurchases.
Contact Information for Analyst and Investor Queries:
For direct inquiries, analysts and investors can reach out to:
Chris Hunt
Shareholder Relations, ICG
Contact: +44 (0) 20 3545 2020
Andrew Lewis
Company Secretary, ICG
Contact: +44 (0) 20 3545 1344
Media Inquiries
Media representatives are encouraged to contact:
Clare Glynn
Corporate Communications, ICG
Contact: +44 (0) 20 3545 1395
Frequently Asked Questions
What shares did ICG Enterprise Trust plc buy back?
The Company bought back 50,000 of its own shares on March 11, 2025.
What is the average price per share for the buyback?
The average price paid for the shares was 1292 pence each.
How many treasury shares does the Company hold after the buyback?
After the buyback, the Company holds a total of 8,785,808 treasury shares.
What is the purpose behind the share buyback?
The buyback aims to enhance shareholder value and maintain effective capital management.
Which broker is handling the buyback transactions for ICG?
ICG Enterprise Trust plc has appointed Numis Securities Limited as its broker for these buyback transactions.
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