Highlights

  • HG Capital Trust shares rose 6.32% on 6 February 2026 following a buyback programme update.
  • The buyback allows repurchases of up to 14.99% of issued share capital.
  • Shares may be repurchased at up to 105% of the five-day average price or the prevailing market bid, whichever is higher.
  • Repurchased shares will be held in treasury under existing AGM authorisation.

HG Capital Trust PLC (LSE:HGT) shares advanced 6.32% to GBX 429 during the morning session on 6 February 2026. Despite the intraday gain, the stock remains down 17.82% over the past one year. Today’s price movement followed the company’s announcement confirming the continuation of its share buyback programme under previously approved shareholder authority.

HG Capital Trust announced that it has engaged Deutsche Numis to conduct a share buyback programme on its behalf. The programme will operate under the shareholder authorisation granted at the company’s Annual General Meeting held on 14 May 2025.

Under this authority, the company is permitted to repurchase up to 14.99% of its issued ordinary share capital as at the AGM. This equates to a maximum of 68,613,502 ordinary shares that may be acquired in the market, subject to prevailing market conditions and the company’s discretion.

Price Limits and Duration of Authority

In line with the AGM approval, the maximum price paid per ordinary share under the programme must not exceed the higher of two measures. These include 105% of the average mid-market value of the shares over the five business days preceding a purchase, or the higher of the last independent trade price and the highest current independent purchase bid on the relevant trading venue.

Unless amended or renewed, the authority to repurchase shares will expire at the conclusion of the company’s Annual General Meeting in 2026. The company may, however, enter into contracts to purchase shares before the expiry of this authority and complete such purchases afterwards, in accordance with the approved terms.

Treasury Treatment and Disclosure Commitments

HG Capital Trust confirmed that any ordinary shares repurchased under the programme will be held in treasury. Market purchases conducted as part of the buyback will be announced no later than 7:30am UK time on the business day following the transaction.

The company has also appointed Deutsche Numis to manage an irrevocable, non-discretionary instruction to continue the buyback during closed periods, ensuring continuity of the programme within regulatory guidelines.

What the Update Signals

The announcement provides clarity on the operational structure, limits, and execution mechanics of the buyback programme, setting out how and when market purchases may occur under the existing shareholder mandate.

 

FAQs

  1. What limits apply to the price paid under the buyback programme?

The maximum purchase price is capped at the higher of 105% of the five-day average mid-market price or the highest prevailing independent market bid.

  1. How many shares can HG Capital Trust repurchase under this programme?

The company may buy back up to 14.99% of its issued share capital, equivalent to 68,613,502 ordinary shares.

  1. How will repurchased shares be treated by the company?

Any shares repurchased under the programme will be held in treasury by HG Capital Trust.