ICG Enterprise Trust plc Engages in Share Repurchase Initiative
ICG Enterprise Trust plc (the “Company”) recently took a significant step towards enhancing shareholder value by initiating a share buyback program.
Details of the Share Buyback
On a recent date, the Company made the decision to repurchase 15,000 of its own shares at an average price of 1381 pence per share, which will be held as treasury shares. This strategic move reflects the Company’s confidence in its market position and financial health.
Following this buyback, the total number of shares held as treasury shares will amount to 455,721. Furthermore, the total shares in issue, excluding these treasury shares, will stand at 63,098,471.
Authority and Market Considerations
This decision to buy back shares falls under the authorization granted by shareholders at the Annual General Meeting. This authority allows the Company to repurchase a maximum of 14.99% of its ordinary shares. However, the actual number of shares repurchased will vary based on the prevailing market conditions, making it a dynamic process. This authority remains valid until the next shareholder meeting, which is anticipated in 2026, unless revoked earlier.
ICG Enterprise Trust plc has not set a maximum consideration for any shares repurchased. The Company’s policy stipulates that it will not pay above the net asset value for any shares in this buyback initiative. The intention is clear: to hold the repurchased shares in treasury going forward.
Brokerage Engagement
To facilitate its share buyback transactions, ICG has selected Numis Securities Limited, operating under the name Deutsche Numis, as its broker. This collaboration is designed to adhere to the UKLA Listing Rules and the general authority established for share repurchases.
Inquiries and Contact Information
If investors or analysts have any questions, they are encouraged to reach out to the following team members:
Chris Hunt
Shareholder Relations, ICG
+44 (0) 20 3545 2020
Andrew Lewis
Company Secretary, ICG
+44 (0) 20 3545 1344
Media Relations
For media inquiries, Clare Glynn from Corporate Communications is readily available.
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 plc?
The share buyback aims to enhance shareholder value while managing the company’s capital structure effectively.
How many shares did ICG Enterprise Trust plc repurchase?
The Company repurchased 15,000 shares to be held as treasury shares in its recent transaction.
At what average price were the shares bought back?
The shares were bought back at an average price of 1381 pence each.
Who is the brokerage facilitating the buyback transactions?
Numis Securities Limited, operating as Deutsche Numis, is the designated broker for these transactions.
What is the future of the repurchased shares?
The intention of ICG Enterprise Trust plc is to keep the repurchased shares in treasury.
