ICG Enterprise Trust plc Engages in Share Repurchase Initiative
ICG Enterprise Trust plc, widely recognized in the financial community, has taken a notable step to enhance shareholder value by executing a buyback of its own shares. On March 28, 2025, the company purchased 15,000 shares, which will be classified as treasury shares, at an average price of 1,267 pence each.
Details of the Share Buyback
Post-settlement of this transaction, the total number of treasury shares held by the company will reach 9,063,808. Consequently, the overall number of shares currently invested in circulation, excluding those held in treasury, will amount to 63,849,192.
Company's Buyback Authority
This strategic move aligns with the authority granted to ICG Enterprise Trust plc by its shareholders during the Annual General Meeting held in June 2024. The approval permits the company to repurchase a maximum of 14.99% of its ordinary shares, providing flexibility in managing share capital.
Market Considerations
The precise quantity of shares repurchased is contingent on prevailing market conditions. This buyback authorization remains valid until the next Annual General Meeting, expected to occur in 2025 or until shareholders advise otherwise.
Financial Prudence in Buyback Operations
While there is no predetermined maximum price for the shares to be engaged in this buyback, the company will ensure that the purchased shares do not exceed the net asset value. Moreover, ICG Enterprise Trust plc plans to retain these shares as treasury, further supporting its financial strategy.
Brokerage Partnership for Execution
In conducting these buyback transactions, ICG Enterprise Trust plc has engaged Numis Securities Limited, which is operating under the name Deutsche Numis for these purposes. This partnership is crucial as it aligns with the UKLA Listing Rules and the company's overarching authority concerning share repurchases.
Contact Information for Investor Queries
Investors and Analysts:
For insightful inquiries regarding this buyback, please 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
For media-related questions, please contact:
Clare Glynn
Corporate Communications, ICG
+44 (0) 20 3545 1395
Frequently Asked Questions
What is the purpose of ICG Enterprise Trust plc's share buyback?
The share buyback program aims to enhance shareholder value by reducing the number of shares in circulation.
How many shares does ICG Enterprise Trust plc intend to hold as treasury shares?
After the recent buyback, the company will hold 9,063,808 shares as treasury shares.
Who is the broker engaged by ICG for the buyback?
ICG has appointed Numis Securities Limited, known as Deutsche Numis for these transactions, as its broker.
What is the maximum percentage of shares that can be repurchased?
The company is authorized to repurchase up to 14.99% of its ordinary shares.
Is there a maximum price set for the shares in the buyback?
While no maximum price has been established, shares purchased cannot exceed the net asset value.
