ICGT Executed Share Buyback as Stock Continues To Trade in Range

ICG Enterprise Trust plc (LON: ICGT) has announced a transaction involving the repurchase of its own shares, conducted on January 8. This strategic move is part of the company's broader efforts to manage its share capital effectively and optimise value for shareholders, who have seen ICGT share price dip 3.91% through 2025 so far.

Over the past year, ICGT has traded through a relatively tight range, with the current price of 1,250 sitting comfortably at the mod-point of the 52 week low/high of 1,150 and 1,352.

The company repurchased 15,000 of its shares at an average price of 1,296 pence per share. The execution of the buyback was in alignment with the authority granted during the Annual General Meeting held in June 2024, which permits the repurchase of up to 14.99% of the company's ordinary shares. This authority is valid until it is revoked or replaced by a subsequent shareholder resolution.

Post-transaction, ICG Enterprise Trust plc holds 8,547,808 shares in treasury, which are excluded from the total shares in issue that amount to 64,365,192 shares. The intent behind this buyback is to retain the shares in treasury rather than cancelling them immediately, providing flexibility for any future corporate actions or capital management strategies.

The share buyback was facilitated by Numis Securities Limited, which is instructed as the broker for these transactions. Analyst targets on the stock remain healthy, with a perceived upside from current price action.

The decision to execute the buyback without a maximum consideration limit—bounded only by not exceeding the asset value—reflects the company’s strategic positioning in maintaining a robust capital framework while returning value to its shareholders.