Overview of Recent Share Transactions
ICG Enterprise Trust plc, a leading investment trust, recently reported a strategic move to enhance shareholder value through its buyback program. On January 27, the company executed a purchase of 10,000 of its own shares, priced at an average of 1326 pence each. This action marks a significant step in reinforcing the company’s financial stability and commitment to its investors.
Details of the Share Buyback
The shares acquired by ICG Enterprise Trust plc are intended to be held as treasury shares, which can be reissued in the future to enhance liquidity and support the company’s strategic objectives. Following the completion of this transaction, the number of treasury shares held by the company rises to 8,634,808, while the total outstanding shares, excluding treasury holdings, will stand at 64,278,192.
Authority and Shareholder Guidance
This buyback is conducted under the authority granted by shareholders during its most recent Annual General Meeting. This authority, which was awarded in June, allows the company to repurchase up to 14.99% of its ordinary shares. The actual number of shares to be bought back will rely on prevailing market conditions.
Future Intentions Regarding Treasury Shares
While no maximum price has been set for the repurchase of shares, the Company will not pay a premium over the net asset value for any repurchased shares. The current strategy is to maintain the bought-back shares in treasury, which can be leveraged for future financial maneuvers as deemed appropriate.
Broker and Compliance Information
In managing its buyback transactions, ICG Enterprise Trust plc has appointed Numis Securities Limited, operating under the trading name Deutsche Numis, as its brokerage partner. This selection aligns with the UKLA Listing Rules, ensuring adherence to regulatory standards while executing share transactions.
Contact Information for Shareholder Inquiries
For further inquiries regarding this process, investors are encouraged to reach out to the following representatives:
Chris Hunt - Shareholder Relations
Phone: +44 (0) 20 3545 2020
Andrew Lewis - Company Secretary
Phone: +44 (0) 20 3545 1344
Corporate Communications
Catherine Armstrong
Phone: +44 (0) 20 3545 1850
Frequently Asked Questions
What shares did ICG Enterprise Trust plc purchase?
ICG Enterprise Trust plc bought back 10,000 of its own shares at an average price of 1326 pence each.
How many treasury shares does the company hold now?
After the buyback, the total number of treasury shares held by the company is 8,634,808.
Who is managing the buyback transactions?
Numis Securities Limited has been appointed as the broker to manage the buyback transactions.
What is the purpose of holding shares in treasury?
The company intends to keep repurchased shares in treasury for future reissuance and to enhance its financial flexibility.
How can shareholders contact the company for more information?
Shareholders can reach out to Chris Hunt or Andrew Lewis at the provided phone numbers for any inquiries related to the buyback scheme.
