ICG Enterprise Trust Purchases Shares for Treasury Management
ICG Enterprise Trust Completes Recent Share Buyback
ICG Enterprise Trust plc has made a strategic decision to buy back its own shares, reinforcing confidence in its financial stability and operational strategy. On March 7, 2025, the Company purchased 10,000 of its shares at an average price of 1295 pence per share. This move highlights the Company's commitment to maintaining shareholder value.
Details of the Share Buyback Announcement
The decision to acquire these shares comes as part of a broader strategy to hold them as treasury shares. Following this transaction, the number of shares held as treasury shares will amount to 8,720,808. Moreover, the total number of shares in issue, excluding treasury shares, will reach 64,192,192.
Shareholder Authority and Buyback Conditions
This share buyback is executed under the authority granted by shareholders during the Annual General Meeting held in June 2024. This authority allows the Company to repurchase a maximum of 14.99% of its ordinary shares. The actual number of shares acquired will depend on various market conditions, and the authority is set to remain until the next shareholder meeting, likely scheduled for the Annual General Meeting in 2025, unless revoked earlier by the shareholders.
Financial Considerations of the Buyback
While the Company has not set a maximum price for the buyback, it has established that no premium to the net asset value will be paid for any shares. As part of its ongoing strategy, ICG Enterprise Trust plc intends to hold all repurchased shares in treasury, positioning itself for potential future financial maneuvers.
Brokerage Involvement and Compliance
To facilitate this buyback process, ICG Enterprise Trust has appointed Numis Securities Limited, operating as Deutsche Numis, as its broker. This arrangement is fully compliant with UKLA Listing Rules and adheres to the Company’s general authority to repurchase its shares.
Contact for Shareholder and Media Inquiries
For any inquiries regarding this transaction, shareholders and 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 Inquiries:
Clare Glynn
Corporate Communications, ICG
+44 (0) 20 3545 1395
Frequently Asked Questions
Why did ICG Enterprise Trust decide to buy back its shares?
The decision to buy back shares reflects the Company’s commitment to maintaining shareholder value and capitalizing on its financial stability.
What will happen to the shares bought back?
The shares repurchased will be held in treasury, which may provide future opportunities for the Company.
How many shares has ICG Enterprise Trust repurchased so far?
As of March 7, 2025, ICG Enterprise Trust has repurchased 10,000 shares.
Who is managing the buyback transactions for ICG Enterprise Trust?
Numis Securities Limited, trading as Deutsche Numis, is the appointed broker for these buyback transactions.
What is the maximum percentage of shares that ICG can repurchase?
ICG Enterprise Trust is authorized to repurchase up to 14.99% of its ordinary shares.
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