ICG Enterprise Trust plc's Strategic Share Buyback Details
ICG Enterprise Trust plc Announces Share Buyback Initiative
ICG Enterprise Trust plc (the “Company”)
Recently, the Company revealed an important transaction regarding its own shares that highlights its strategic financial management. On a recent date, the Company executed a buyback of 10,000 of its shares, acquiring them at an average price of 1588 pence per share. This decision reflects the Company’s intent to manage its capital effectively.
Details of the Share Buyback
The share buyback program has increased the number of treasury shares held by the Company to 754,722. In total, after this transaction, the overall shares in issue excluding treasury shares stands at 62,799,470. Such moves are indicative of the Company’s ongoing strategy to optimize shareholder value and respond to market conditions.
Authority & Market Considerations
The buyback has been undertaken under the authority granted by shareholders during the Annual General Meeting held in June, allowing for the repurchase of up to 14.99% of its ordinary shares. The actual number of shares repurchased can vary and is influenced by current market dynamics.
This authority is valid until the next scheduled shareholder meeting, expected to occur in the coming year, unless revoked earlier. The Company aims to hold any repurchased shares in treasury, enhancing its flexibility for future management of capital resources.
Brokerage and Compliance
As part of this initiative, the Company has selected Numis Securities Limited, operating as Deutsche Numis, to handle the buyback transactions. This choice ensures compliance with regulatory standards set forth by the UKLA Listing Rules and aligns with the Company’s broader authority to repurchase shares, thereby reinforcing good governance.
Contact Information for Investors
For further inquiries regarding these transactions, investors 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 Contact:
Clare Glynn
Corporate Communications, ICG
+44 (0) 20 3545 1395
Frequently Asked Questions
What is the recent share buyback by ICG Enterprise Trust plc?
The Company recently bought back 10,000 shares to be held as treasury shares, at an average price of 1588 pence each.
How many treasury shares does ICG hold after the buyback?
Following the buyback, ICG now holds a total of 754,722 treasury shares.
What authority supports the share buyback?
The share buyback is authorized by shareholders as per the Annual General Meeting, allowing the Company to repurchase up to 14.99% of its ordinary shares.
Who is responsible for executing the buyback transactions?
ICG has engaged Numis Securities Limited as its broker for the buyback transactions, ensuring proper compliance with regulations.
How can investors get in touch with ICG for more information?
Investors can contact Chris Hunt or Andrew Lewis through the provided phone numbers for inquiries related to the share buyback.
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