ICG Enterprise Trust Takes Strategic Move in Share Buyback

Author: Evelyn Baker Updated: 01-23-2025 02:16 AM

ICG Enterprise Trust plc Announces Share Buyback Plan

ICG Enterprise Trust plc (the “Company”)

The Company recently disclosed that on 22 January 2025, it has executed a buyback of 7,000 of its own shares, which will now be held as treasury shares. This move follows a strategic vision to enhance shareholder value.

Details of the Buyback Transaction

This particular share repurchase occurred at an average price of 1334 pence per share. After the completion of this transaction, the Company will hold a total of 8,609,808 treasury shares. This is significant when considering that the total shares in issue, excluding treasury shares, stands at 64,303,192.

Regulatory Compliance and Limitations

The buyback initiative has been conducted under the authority granted by stakeholders during the Annual General Meeting held in June 2024. This authority allows the Company to buy back up to a maximum of 14.99% of its ordinary shares. It is important to note that the number of shares repurchased will be subject to market conditions.

Future Intentions for Repurchased Shares

Currently, the intention of the Company is to retain any repurchased shares as treasury shares. There is no predetermined maximum price for the buyback; however, it is essential for the Company not to purchase shares at a premium over the net asset value.

Brokerage and Market Compliance

To facilitate this buyback program, the Company has engaged Numis Securities Limited, operating as Deutsche Numis, to act as its broker. This decision aligns with the guidelines set forth by the UKLA Listing Rules and adheres to the overall authority granted by shareholders to repurchase shares.

Contact Information for Further Enquiries

For inquiries related to analyst or investor relations, Chris Hunt from Shareholder Relations at ICG is available at +44 (0) 20 3545 2020, and Andrew Lewis, the Company Secretary, can be reached at +44 (0) 20 3545 1344.

Media Contact

For media-related inquiries, Catherine Armstrong from Corporate Communications at ICG can be contacted at +44 (0) 20 3545 1850.

Frequently Asked Questions

What prompted ICG Enterprise Trust to initiate a buyback?

The buyback is part of a strategy to enhance shareholder value and reflect confidence in the company's future.

How many shares will be held as treasury shares after this buyback?

After this buyback, the Company will hold a total of 8,609,808 treasury shares.

What is the maximum percentage of shares ICG Enterprise Trust can buy back?

The Company is authorized to repurchase up to a maximum of 14.99% of its ordinary shares as per the shareholders’ agreement.

Who is managing the buyback transactions?

Numis Securities Limited is acting as the broker for ICG Enterprise Trust’s buyback transactions.

What are the future intentions of the Company regarding the repurchased shares?

ICG Enterprise Trust intends to hold the repurchased shares in treasury for future use.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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