ICG Enterprise Trust Enacts Share Buyback Strategy
ICG Enterprise Trust plc (the “Company”)
Recently, the Company completed a noteworthy transaction involving its own shares. On a specific date, ICG Enterprise Trust acquired 10,000 of its own shares to be designated as treasury shares, purchasing them at an average price of 1482 pence per share.
Details of the Recent Share Buyback
The transaction includes the post-settlement condition of treasury shares, with the count now totaling 814,722 shares. Following this buyback operation, the total shares issued, excluding treasury shares, stands at 62,739,470.
Authority for Share Repurchase
The decision to buy back shares was made under the authority granted by shareholders during the recent Annual General Meeting held earlier this year, allowing the Company to repurchase a maximum of 14.99% of its ordinary shares. The actual execution of this share repurchase is influenced by market conditions.
Intentions Regarding Acquired Shares
While there is no established maximum consideration for these shares, it is essential to note that the Company will not pay a price that would suggest a premium over the net asset value. The current plan is to retain the repurchased shares in treasury.
Brokerage and Compliance
In facilitating this share buyback, the Company has engaged Numis Securities Limited, which operates under the name Deutsche Numis, to serve as its broker. This engagement adheres to the UKLA Listing Rules as well as the general authority granted to the Company by its shareholders for share repurchases.
Contact Information for Enquiries
If you wish to make inquiries regarding this share buyback initiative, 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 Contacts:
Clare Glynn
Corporate Communications, ICG
+44 (0) 20 3545 1395
Frequently Asked Questions
What is the purpose of the share buyback by ICG Enterprise Trust?
The buyback aims to optimize shareholder value and manage shares effectively within the market.
How many shares has ICG Enterprise Trust bought back?
The Company has repurchased 10,000 shares, now held as treasury shares.
What is the indicative price per share for the buyback?
The average price paid for the buyback was 1482 pence per share.
Who is handling the buyback transactions for the Company?
Numis Securities Limited, trading as Deutsche Numis, is serving as the broker for these transactions.
What will happen to the repurchased shares?
The intention is to hold the repurchased shares in treasury, rather than canceling them.
