ICG Enterprise Trust plc (ICGT), a London-listed investment trust focused on private equity, has announced the repurchase of 10,000 of its own ordinary shares on 12 November 2026 at an average price of 1,396 pence per share. The transaction forms part of the company's ongoing long-term buyback programme, with the acquired shares to be held in treasury rather than cancelled. The buyback is conducted under shareholder authority granted at the Annual General Meeting in June 2026, which allows the company to repurchase up to 14.99% of its ordinary shares. Investors will be watching the cumulative scale and pace of buybacks as a signal of the board's confidence in the trust's underlying net asset value.

Key Points

  • ICG Enterprise Trust plc (ICGT) is a London-listed investment trust managed by Intermediate Capital Group
  • The company repurchased 10,000 ordinary shares on 12 November 2026 at an average price of 1,396 pence per share under its long-term buyback programme
  • Following settlement, 3,712,500 shares are held in treasury and 59,841,692 shares remain in issue excluding treasury shares
  • Investors should watch future buyback disclosures for the pace at which the company approaches its 14.99% repurchase ceiling ahead of the 2027 AGM

ICGT Repurchases 10,000 Shares at 1,396p, Adding to Treasury Holdings

ICG Enterprise Trust confirmed it purchased 10,000 of its own shares on 12 November 2026 at an average price of 1,396 pence per share, with all acquired shares to be held as treasury shares. Following settlement of this transaction, the total number of shares held in treasury stands at 3,712,500, while the total shares in issue excluding treasury shares amounts to 59,841,692. The company did not disclose the aggregate consideration payable for this specific tranche in the announcement, though the per-share price and volume figures allow the transaction size to be contextualised within the broader programme.

AGM-Granted Authority Underpins the 14.99% Repurchase Limit

The buyback is conducted under authority granted by shareholders at the company's Annual General Meeting in June 2026, permitting ICG Enterprise Trust to repurchase a maximum of 14.99% of its ordinary shares. The announcement states that no maximum aggregate consideration has been set, but the company is explicitly prohibited from paying a price that would represent a premium to net asset value per share. This NAV-linked pricing constraint is a standard structural feature of investment trust buybacks, designed to protect remaining shareholders from value dilution whilst allowing the trust to manage any discount to NAV.

Deutsche Numis Acts as Broker for ICGT's Ongoing Share Repurchase Transactions

ICG Enterprise Trust has instructed Numis Securities Limited, trading for these purposes as Deutsche Numis, to act as its broker in connection with the buyback programme. The arrangement is conducted in accordance with UKLA Listing Rules and the company's general shareholder-granted authority to repurchase shares. The current buyback authority will remain in force until a new authority is granted — expected at the 2027 Annual General Meeting — or until it is expressly revoked by shareholders. The actual number of shares repurchased will depend on prevailing market conditions, the announcement states.