This is one of the more blatant stand-over tactics that a LIC could perpetrate.
Suppress the share price with a buy back. Implement an SPP and not a rights issue at a value destroying price. "Pay us more money or watch your investment value be destroyed"; "with the added sting that if you happen to have a significant holding you will lose value regardless of how much we force you to pay".
This is a LIC - it is not a commercial operation with debt to lower or a mine to build. The only beneficiaries of this tawdry tactic are the fund managers.
The share price action in the period before the announcement merits investigation.
These guys have a lot of questions to answer!
Ann: Share Purchase Plan , page-9
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add NSC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
42.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $62.71M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 42.0¢ | 42.0¢ | $105.0K | 250.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 44000 | 41.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.0¢ | 45200 | 2 |
View Market Depth
| Last trade - 15.56pm 28/11/2024 (20 minute delay) ? |
| NSC (ASX) Chart |
