ICG Enterprise Trust Announces Significant Share Buyback Initiative
ICG Enterprise Trust plc Announces Share Buyback
ICG Enterprise Trust plc (the “Company”)
Recently, the Company announced a significant move regarding its own shares. On 3 February 2025, the Company took proactive steps in the market by purchasing back 15,000 shares. This strategic buyback was executed at an average price of 1328 pence per share, a decision that reflects the Company’s ongoing commitment to enhance shareholder value and manage its treasury effectively.
Details of the Share Buyback
Following the completion of this buyback, the Company has listed the following changes in its operations:
Changes in Treasury Shares
After the settlement of this recent purchase, the Company now holds a total of 8,655,808 shares as treasury shares. This action plays a significant role in reducing the available shares in circulation.
Impact on Total Shares Issued
The total number of shares in issue, excluding treasury shares, now stands at 64,257,192. This indicates the management’s strategy to exert influence on the market by controlling share availability.
Background and Authority of Buyback
The Company’s decision to proceed with the buyback falls under the authority granted by shareholders during the Annual General Meeting, held in June 2024. This authority explicitly allows the Company to repurchase a maximum of 14.99% of its ordinary shares, reflecting the shareholders' confidence in the management's strategy.
Conditions and Regulations for the Buyback
While the Company has not set a maximum consideration payable for these shares, it maintains strict adherence to regulations. Importantly, the price paid for any shares in the buyback cannot exceed the net asset value premium. The Company intends to retain any repurchased shares in treasury, demonstrating a conservative approach toward its capital management.
Brokerage Arrangements
To facilitate these transactions, the Company has engaged Numis Securities Limited, which operates under the name Deutsche Numis, to act as its broker. This decision aligns with the UKLA Listing Rules, ensuring compliance with industry standards during the buyback operations.
Contact Information
For inquiries relating to the transactions or shareholder relations, interested parties can reach out to the following contacts:
Analyst/Inquiries
Chris Hunt
Shareholder Relations, ICG
+44 (0) 20 3545 2020
Company Secretary
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 action taken by ICG Enterprise Trust?
The Company has recently bought back 15,000 of its own shares to be held as treasury shares.
What is the average price paid for the buyback?
The average price for the buyback was 1328 pence per share.
How many shares does ICG Enterprise Trust hold as treasury now?
Post-buyback, the Company holds a total of 8,655,808 treasury shares.
What impact does this buyback have on total shares issued?
Excluding treasury shares, the total number of shares in issue is now 64,257,192.
Who is the broker for this buyback transaction?
Numis Securities Limited, trading as Deutsche Numis, is the broker for these transactions.
About The Author
Contact Logan Wright privately here. Or send an email with ATTN: Logan Wright as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
