ICG Enterprise Trust plc (ICGT) has announced it bought back 10,000 of its own ordinary shares on 9 November 2026 at an average price of 1,389 pence per share, with the acquired shares to be held in treasury. The transaction forms part of a long-term buyback programme authorised by shareholders at the company's Annual General Meeting in June 2026. Following settlement, the total number of shares held in treasury rises to 3,702,500, while shares in issue excluding treasury shares stands at 59,851,692. Investors in this London-listed private equity investment trust will be watching the pace of further repurchases under the existing authority.

Key Points

  • ICG Enterprise Trust plc (ICGT)
  • The company repurchased 10,000 ordinary shares on 9 November 2026 at an average price of 1,389 pence per share, to be held as treasury shares
  • Treasury shares now total 3,702,500; shares in issue excluding treasury shares now stand at 59,851,692
  • Investors should watch the rate of further buybacks under the June 2026 AGM authority, which permits repurchases of up to 14.99% of ordinary shares

ICGT's 9 November 2026 Share Repurchase at 1,389p Under AGM-Granted Authority

ICG Enterprise Trust confirmed it repurchased 10,000 of its own shares on 9 November 2026 at an average price of 1,389 pence per share. The buyback was executed under the authority granted by shareholders at the company's Annual General Meeting held in June 2026, which allows the company to repurchase up to a maximum of 14.99% of its ordinary shares. Deutsche Numis, trading as Numis Securities Limited, acted as the company's appointed broker for the transaction, in line with UKLA Listing Rules and the company's general repurchase authority.

Treasury Share Position and Remaining Shares in Issue After Settlement

Following settlement of the 9 November purchase, ICG Enterprise Trust will hold 3,702,500 shares in treasury in total. The number of ordinary shares in issue, excluding treasury shares, will stand at 59,851,692. The company has stated its current intention is to hold all repurchased shares in treasury rather than cancel them. The announcement notes that no maximum aggregate consideration for the buyback programme has been set, but the company is restricted from paying a price that would represent a premium to its net asset value per share.

Buyback Programme Constraints: NAV Price Cap and 2027 AGM Renewal Deadline

The June 2026 shareholder authority governing ICGT's buyback programme remains in force until a new authority is granted — expected at the 2027 Annual General Meeting — or until shareholders expressly revoke it. A key constraint limits repurchases to prices at or below net asset value, a provision that directly ties the pace and scale of the programme to the trust's underlying portfolio valuation. The actual number of shares the company will repurchase depends on prevailing market conditions, meaning the programme's ultimate scope remains open-ended within the 14.99% ceiling.

ICG Enterprise Trust's Role as a Private Equity Investment Trust

ICG Enterprise Trust is a closed-ended investment trust that provides investors with exposure to private equity investments, managed within the broader ICG (Intermediate Capital Group) platform. The trust invests primarily in private equity-backed companies, generating returns through capital appreciation across its portfolio. Share buybacks at or below net asset value are a common tool used by investment trusts to manage discounts to NAV, potentially benefiting remaining shareholders by improving the per-share value of the underlying portfolio. Shareholder relations and company secretarial contacts are provided through ICG's London office.