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Track real-time Director Deals activity on the London Stock Exchange (LSE)
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Icg Enterprise Trust Plc | ICGT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 18.00 | 1.31% | 1,390.00 | 15:33:30 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,386.00 | 1,384.00 | 1,390.00 | 1,372.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 25/06/2024 | Final | GBP | 0.105 | 03/07/2025 | 04/07/2025 | 18/07/2025 |
| 25/06/2024 | Interim | GBP | 0.085 | 13/02/2025 | 14/02/2025 | 28/02/2025 |
| 25/06/2024 | Interim | GBP | 0.085 | 14/11/2024 | 15/11/2024 | 29/11/2024 |
| 25/06/2024 | Interim | GBP | 0.085 | 15/08/2024 | 16/08/2024 | 30/08/2024 |
| 27/06/2023 | Final | GBP | 0.09 | 04/07/2024 | 05/07/2024 | 19/07/2024 |
| 27/06/2023 | Interim | GBP | 0.08 | 15/02/2024 | 16/02/2024 | 01/03/2024 |
| 27/06/2023 | Interim | GBP | 0.08 | 16/11/2023 | 17/11/2023 | 01/12/2023 |
| 27/06/2023 | Interim | GBP | 0.08 | 17/08/2023 | 18/08/2023 | 01/09/2023 |
| 11/05/2023 | Final | GBP | 0.09 | 06/07/2023 | 07/07/2023 | 21/07/2023 |
| 27/06/2023 | Interim | GBP | 0.08 | 28/06/2023 | 28/06/2023 | |
| 02/02/2023 | Interim | GBP | 0.07 | 16/02/2023 | 17/02/2023 | 03/03/2023 |
| 11/10/2022 | Interim | GBP | 0.07 | 17/11/2022 | 18/11/2022 | 02/12/2022 |
| 28/06/2022 | Final | GBP | 0.07 | 07/07/2022 | 08/07/2022 | 22/07/2022 |
| 21/06/2021 | Interim | GBP | 0.06 | 10/02/2022 | 11/02/2022 | 04/03/2022 |
| 21/06/2021 | Interim | GBP | 0.06 | 11/11/2021 | 12/11/2021 | 03/12/2021 |
| 21/06/2021 | Interim | GBP | 0.06 | 12/08/2021 | 13/08/2021 | 03/09/2021 |
| 28/04/2021 | Final | GBP | 0.09 | 01/07/2021 | 02/07/2021 | 23/07/2021 |
| 04/02/2021 | Interim | GBP | 0.05 | 11/02/2021 | 12/02/2021 | 05/03/2021 |
| 07/10/2020 | Interim | GBP | 0.05 | 12/11/2020 | 13/11/2020 | 04/12/2020 |
| 17/06/2020 | Interim | GBP | 0.05 | 13/08/2020 | 14/08/2020 | 04/09/2020 |
| 28/04/2020 | Final | GBP | 0.08 | 02/07/2020 | 03/07/2020 | 24/07/2020 |
| Top Posts |
|---|
Posted at 25/4/2025 15:58 by triskelion From a quick search I can't find what ICGT paid for Minimax in 2018 and I haven't spent time tracing through the RNSs to try and figure out if NAV (preferably that allocated to it) has dropped over time. The RNS stating "The sale was executed in line with the last reported NAV and proceeds have been received." seemed a bit circumspect to me.Also the share price hasn't yet recovered from the Tariffs kerfuffle either unlike eg DORE (I know, not a true comparison except for being another that has dropped significantly in recent times - but unlike ICGT, with some significant correction today). |
Posted at 06/4/2025 15:26 by elbrus55 Sorry, By MBO, I should have just said 'buyout'. It is what they mainly do - buy companies outright or at least where they can take a controlling interest.RCF is just a form of debt, similar an overdraft. It is a term used by ICGT in their accounts and RNSs - oops... I mean Regulatory News Statements. |
Posted at 04/4/2025 07:56 by elbrus55 If they don't sell some old investments and make some new ones then the portfolio will become very mature and it is no longer an enterprise / MBO investment strategy which is what ICGT is about.Realising investments at 5pc discount, when you can repurchase your own shares at about 37pc discount gives a good opportunity for risk-free NAV accretion. Probably fortunate timing given the market falls this week. They are paying swaps+300bp on the RCF, so should benefit by at least that much until the proceeds are reinvested. |
Posted at 02/4/2025 13:04 by pvb nexusltd 2 Apr '25 - 12:05 - 389 of 390That as secondary sale was best is not a good result. Secondary's are generally sold @ a discount to NAV; usually to prove to the market that stated valuations are realistic. The MOIC of 1.6 is well short of 2.5 which is a test of quality benchmark threshold. 64mn wrt 1200mn GAV is c 5%; so at least a twentieth of the portfolio is underperforming. Thoughts? 2.5x is all very well, but what's the effective IRR? From the RNS: "It realises a return of 1.6x invested cost (15% IRR) to ICGT, and releases undrawn commitments of £10m." That sounds perfectly satisfactory to me. |
Posted at 11/7/2024 12:32 by novision Q1 update to 30/4/24 |
Posted at 10/5/2024 15:18 by 1968jon I understand the distinction Riverman. My point is more to a wider audience who distrust the valuations of private markets and might say "ah! you sell the good stuff at 29% premium but what of all the unsold stuff". Well it seems to me that the rump stuff should have a floor at -15% not -38%.Don't get me wrong, I am confident in ICGT and eventually the backup in PE deals will clear and we can get back back to a high teens discount and it will hopefully compound for me at 10+% for the next ten years. |
Posted at 10/5/2024 14:15 by riverman77 ICGT is realising assets at an average 29% premium. The 15% discount you mention relates to a secondary sale of some assets where they saw less upside - hopefully a one-off clear out and the majority of the portfolio can be sold at a premium. PE funds are generally quite conservative on valuations since they are not typically incentivised to mark up asset values before they are sold.Unlike PIN and some of the others, there has been no press coverage at all of ICGT's plans - feel they need to up their game on the PR front. |
Posted at 10/5/2024 13:40 by skyship 1968 - PIN finally did the right thing - though done with buybacks rather than dividends. I cursed them for not rewarding shareholders - finally they have done so.ICGT & HVPE still less so... |
Posted at 08/5/2024 10:17 by riverman77 New 'opportunistic' buyback announced alongside the existing long term buyback and dividends. Detail is somewhat buried in the report - you'd think they'd want to publicise this a bit more. New buyback is up to £25m, which appears to be in addition to the existing buyback (last year £13m) and the 33p dividend. If you add all this up it could equate to a 7.5% shareholder return at current share price.Nav returns slightly soft over last year but seems to be a combination of fx, 50% fall in Chewy share price (now only 1.4% of portfolio) and the sale of some older underperforming assets at 15% discount. Underlying portfolio seems to be performing well with 14% EBITDA growth. Overall think looks pretty good value on a 38% discount, having lagged some its peers recently. They're realising assets at a 29% premium to book value, so on that basis looks very cheap. |
Posted at 02/3/2024 20:56 by apple53 Sky- you are even worse than me. I WOULD take 3% on HVPE (and have taken less when I needed the cash), but on ICGT with STAMP!I also sold APEO early, average 513p. Most of it went into OCI at 443 average, and a bit into CORD (along with some PIN proceeds) which I flipped already to buy (more) ONT at 135. I am sure I will regret the latter. PEIT can be volatile but ultimately you feel so much surer of medium term value than in 'growth' stocks like ONT. Thanks for the buyback discussion Acol and Cousin. I take the points - ie 1) they did as much volume in one day as in the 27 transactions mentioned in the Q3 report for end October; and 2) yes they took the 22p hit to NAV to raise valuable cash upfront, and 3) given price performance since, they may indeed have cleared the overhang. The sacrificial sale ultimately meant that in local currency, they were down more than 1% in Q3 restated, saved by 3% currency benefit from a 5.5% fall in cable. It did mean we have an example of a PE firm selling BELOW carrying value. Hmmm. July to October saw a 10% fall in world MSCI, so serious headwinds, even for conservative accountants. My real time estimate of ICGT's NAV is 2075, with the biggest factor being 45% of world MSCI's increase, partially offset by sterling strength. End Jan MSCI was almost 5% lower than now (though up 16% since October), so I guess I'm thinking around 2020 for end Jan. On the one hand I hate to think how much of World MSCI is driven by META and NVDA, and therefore that accountants will be cautious marking up PE portfolios. On the other hand I'm not building in much for real organic growth, which they normally achieve in spades. I own some ICGT but not enough. If HVPE went up £2 I would switch some. If it's still languishing round here, it has to be worth owning it for Q4 results. If anyone has done any work on their actual holdings and their likely correlation (or lack thereof) with S&P, NASDAQ etc........ |
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