yoo wont get $1.10 for all the shares you want to sell. The Co. is only buying back 20mill worth. youll be stuck with what tever the difference is (lets say is 50% of your shares) and forced to sell them on market. If enough ppl try to do that, it will push the share well below $1.
The million dollar question is: how many people just want out? If its less than 1/3 you realy can buy today and sell at $1.10 in March, but if 75% want out, you are going to be stuck with a whole lot of shares that you dont want to own.
Does anyone who was at the AGM have a sense for what proportion of holders simply want out? Mr Moses has since suggested that it was about one third.
PGL Price at posting:
68.7¢ Sentiment: None Disclosure: Held