REG - ICG Enterprise Trust - Authority to transact in own shares <Origin Href="QuoteRef">ICGT.L</Origin>

ICG Enterprise TrustAnnouncement

01/07/2016 07:08

RNS Number : 8658C
ICG Enterprise Trust PLC
01 July 2016
ICG ENTERPRISE TRUST PLC
AUTHORITY TO TRANSACT IN OWN SHARES
1 July 2016
Given the heightened focus on public disclosure under the Market Abuse Regulation which comes into force on 3 July, ICG Enterprise Trust plc (the Company) hereby provides confirmation of its ongoing share buyback powers approved by shareholders at the Company's annual general meeting. These powers are renewed annually. It is expected similar announcements will be made every time the share buyback authority is renewed.
The Company was granted authority by shareholders to repurchase a maximum of 14.99% of its ordinary shares (being its outstanding shareholder authority); the actual number of shares repurchased will depend on market conditions. Such authority lasts until the next shareholder authority granted (expected to be at the annual general meeting in 2017), or where expressly revoked by shareholders. No maximum consideration payable has been determined by the Company, but the Company is unable to pay a price for any shares pursuant to the buyback which would equate to a premium on the net asset value.
The Company has instructed J.P. Morgan Securities plc as its broker in respect of its buyback transactions. 
The effect of the buyback will be to reduce the number of shares of the Company in issue.
This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.
For further information, please contact Michael Pote on 0203 201 7700.
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