Foresight Group's Recent Share Buyback Strategy Unveiled
Foresight Group Buyback Announcement
LEI: 213800NNT42FFIZB1T09;
In a strategic move reflecting its ongoing commitment to generate long-term value, Foresight Group Holdings Limited (LSE: FSG) announced the initiation of a share buyback program. This program, which is aimed at enhancing shareholder returns through the acquisition of ordinary shares, demonstrates the company’s robust financial position and proactive approach to capital management.
Details of the Share Buyback
According to the latest announcement, Foresight Group executed a buyback of 14,929 ordinary shares at an aggregate price that varies between 454.50 GBp and 459.00 GBp per share, with a volume-weighted average of 456.647431 GBp. This buyback is part of a broader initiative outlined in the announcement made in April this year, reaffirming the Group's commitment to optimizing capital allocation.
Following the completion of this transaction, the purchased shares will be held in treasury, meaning they will not carry voting rights while held as such. As part of the new program, Foresight has bought a total of 1,295,164 shares back into treasury. This move is significant for shareholders as it potentially increases the value of their remaining shares by reducing the total number of shares outstanding.
Current Share Structure
Foresight Group's share capital comprises 116,347,803 ordinary shares, of which 112,450,643 have voting rights while 3,897,160 shares are held in treasury. This reflects a robust structure and indicates the Group’s clear transparency regarding its shareholding dynamics. It’s essential for existing and potential investors to note that the total number of voting shares serves as a key denominator when determining disclosure requirements under FCA’s guidance.
Aggregate Information on Trading
As part of the share buyback program, detailed information was provided about the trades carried out by Berenberg as the executing broker. Specifically, the average price for shares traded on the London Stock Exchange (LSE) stood at 456.647431 GBp for the aggregated 14,929 shares purchased.
Individual Trading Highlights
The buyback program involved numerous transactions executed at various times throughout the trading day. For instance, on average, transactions demonstrated consistent interest and upward movement in trading volume, indicative of a strong market response to the buyback initiative. Key transactions included:
- 556 shares purchased at 457.50 GBp at 09:07:57.
- 90 shares purchased at 457.50 GBp at 09:07:57.
- 886 shares bought at 458.00 GBp at 09:11:57.
- 546 shares at 458.50 GBp at 09:14:21.
- 322 shares acquired at 456.00 GBp at 10:10:53.
Company Overview and Commitment to Sustainable Growth
Foresight Group Holdings Limited is recognized as a leading investment manager specializing in real assets. Established in 1984, the organization has intricately involved itself in supporting various sectors including energy transition and decarbonization processes. This proactive strategy aims not only to provide financial returns for its investors but also to actively participate in building a sustainable future.
Contact Information for Further Inquiries:
Foresight Group Investors
Liz Scorer / Ben McGrory
+44 (0) 7966 966956 / +44 (0) 7443 821577
ir@foresightgroup.eu
Berenberg (Joint Corporate Broker)
James Felix / John Welch / Dan Gee-Summons
+44 (0) 203 753 7800
H-Advisors Maitland
Sam Cartwright / Audrey Da Costa
+44 (0) 782 725 4561 / +44 (0) 781 710 5562
Foresight@h-advisors.global
Frequently Asked Questions
1. What is the purpose of Foresight Group's share buyback program?
The share buyback program aims to enhance shareholder value by purchasing ordinary shares and reducing the total shares in circulation.
2. How many shares has Foresight Group purchased in total?
The company has repurchased an aggregate of 1,295,164 ordinary shares under the current buyback program.
3. At what price range were the shares bought back?
The shares were purchased within a price range from 454.50 GBp to 459.00 GBp each.
4. What happens to the purchased shares?
The repurchased shares will be held in treasury and will not have voting rights while retained by the Group.
5. How does Foresight Group contribute to sustainability?
Foresight focuses on investment solutions that support the energy transition, nature recovery, and the growth of ambitious companies for a sustainable future.
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