Great chart ,Thanks. The recent announcement didnt inspire me . Shouldnt have bought any.
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Great chart ,Thanks. The recent announcement didnt inspire me . Shouldnt have bought any.
Quite right, I counted at least 3 mentions of "continuing" or "completing" the buy-back in the report
But "resumes" implies it had previously been stopped/paused/suspended. And I wasn't aware that this had happened. There doesn't appear to be any market announcement that it had been paused
Being an on-market buy-back, there should not have been any limitations around timing of the buys
Craigs latest.result in line with expectations.retail discounting hurting performance.still too early to tell if new customer focused strategy is working. Keeping target price of $5.60 ,buy.
If tiwai wasnt an uncertain cloud hanging over the gentailers would not orgs like the canadian pension plan be lapping these up?
On-market, yes, but buying shortly before a profit announcement could be (mis?)construed as disadvantaging sellers through insider knowledge of what that announcement would contain. I don't know if there is any NZX rule on the matter but it seems to have at least been a convention not to buy-back when an announcement is imminent.
As mentioned before, I thought it might've been one of rules by NZX somewhere in their rule book for a company to forbid buy-back at a certain period before the results are due, similar to how directors and senior management are forbidden to buy few weeks before the results are due to be out.
However I agree on that point that there is no mention to that affect that the buy-back is suspended for a period of time, not sure if a company is obliged to make an announcement to that affect.
It usually does if it is keeping the market informed. They didn't.
In a time of M&A how would a CEN/TPW merger fit?