ICG Enterprise Trust Commences Share Buyback Program

Author: Ryan Hughes Updated: 03-18-2025 03:15 AM

ICG Enterprise Trust Share Buyback Details

ICG Enterprise Trust plc (the “Company”)

Recently, the Company announced an important move pertaining to its share structure. On a recent date, it successfully bought back 15,000 of its shares, marking a strategic step to hold these as treasury shares. This buyback occurred at an average price of 1284 pence per share, reinforcing the Company’s commitment to enhancing shareholder value.

Treasury Shares Overview

After the completion of this transaction, the total number of shares held as treasury assets amounts to 8,905,808. This signifies a robust approach to capital management. The total shares outstanding, excluding these treasury shares, now stands at 64,007,192. This buyback strategy is designed to optimize the share structure and ensure long-term sustainability.

Share Purchase Authority

ICG Enterprise Trust operates under a buyback authority granted by shareholders during the Annual General Meeting held in June. This authority allows for the repurchase of up to 14.99% of ordinary shares. The actual number of shares purchased is contingent on prevailing market conditions. This authority remains valid until the next shareholder meeting, anticipated to occur in 2025, or until it is revoked by the shareholders.

Considerations for the Buyback

No maximum consideration has been set by the Company for these share buybacks, but specific guidelines dictate that shares cannot be acquired if the price exceeds the net asset value. The current objective is to retain any repurchased shares as treasury, providing flexibility for future capital structure adjustments.

Brokerage Arrangements

The Company has engaged Numis Securities Limited, operating under the name Deutsche Numis, as its appointed broker for these buyback transactions. This decision aligns with the regulatory guidelines set forth by the UKLA Listing Rules, ensuring that all buyback activities adhere to established corporate governance principles.

Contact Information for Inquiries

For analysts and investor inquiries, contact:

Chris Hunt
Shareholder Relations, ICG
+44 (0) 20 3545 2020

Andrew Lewis
Company Secretary, ICG
+44 (0) 20 3545 1344

For media inquiries, please reach out to:
Clare Glynn
Corporate Communications, ICG
+44 (0) 20 3545 1395

Frequently Asked Questions

What is the purpose of the share buyback?

The share buyback aims to enhance shareholder value and optimize the capital structure of ICG Enterprise Trust.

How many shares have been repurchased?

ICG Enterprise Trust has repurchased 15,000 of its shares to be held as treasury shares.

What is the average price per share for the buyback?

The average price for the share repurchase was 1284 pence per share.

Who is handling the buyback transactions?

Numis Securities Limited, trading as Deutsche Numis, has been appointed as the broker for these buyback transactions.

What authority governs this share repurchase?

The buyback is conducted under authority granted by shareholders during the June Annual General Meeting, allowing for the repurchase of up to 14.99% of shares.

About The Author

Hello, my name is Ryan Hughes. I am a financial, economics, and stock market specialist committed to assisting people in negotiating the intricacies of the financial system. Having a great deal of experience and a thorough grasp of market dynamics and economic trends, my area of expertise is converting complex financial ideas into understandable, practical knowledge. By use of my articles and blog entries, I hope to give you the information and assurance you need to make wise financial choices.

I've had the honor of interacting with a wide range of readers as a writer for several financial blogs, from new investors to seasoned market participants. To enable you to reach your financial goals, I want to make finance, economics, and stock market trends understandable and approachable. I appreciate you traveling with me toward success and financial literacy.

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