Freespirits,
The discount is running at over 20%, but I've seen (LIC)buybacks before and sporadic buying from CTN will do very little for the share price. Yes, it will increase the NTA marginally by reducing the number of shares, but this is just a feel good announcement.
In the past 12 months they only bought 400,000 shares and it didnt affect the share price at all.
Dont get me wrong, I'm a firm believer in CTN and have plenty of stock. I just think they will continue to search for micro's and the buyback will be a secondary issue. The only way the discount will decrease is just plain old market sentiment. Micro LIC's alway run at a larger discount to the big players.
Give it time, the share price will take care of itself.
Regards
P
Freespirits,The discount is running at over 20%, but I've seen...
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Mkt cap ! $62.71M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 42.0¢ | 42.0¢ | $100.0K | 238.3K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 22412 | 41.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 11876 | 1 |
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