Barramundi ( BRM )

[Toddy]

NAV @ 74.72

Buying back at 72

Interesting ....

Makes total sense to me. They have 5 percent cash on hand and have been active in the portfolio management.

[Sideshow Bob]

Makes total sense to me. They have 5 percent cash on hand and have been active in the portfolio management.

With warrants to be exercised in a few months at probably just over 63c.

[alokdhir]

Mandate says 6% discount to NAV after incorporating market moves after the last reported NAV ...as per that buying back at 5% discount maybe overkill !!

[Toddy]

They will have a plan to do everything within their control to ensure the best value for shareholders.

Buying back stock is an important part of ensuring shareholder value.

They want to get the warrants across the line come October.

[Not too Flash]

The current buy-back appears to break this policy

As per the current Share Buyback Policy, Barramundi will only buy back shares if the discount to the
last published net asset value is greater than 6%.

[Toddy]

My understanding was that the policy was 'triggered' at 5 percent.

Either way, it makes sense to include buy backs with the current high level of cash in the bank account if the opportunity exists.

[Toddy]

Today was a decent day on the ASX.
BRM NAV just on 79 cents.
The head shares and warrants are looking very cheap based on today's closing prices.

[Sideshow Bob]

All quiet on the BRM thread......

Gap widening between share price and NAV - last weeks announcement NAV at $0.7578 and have traded this morning as low at $0.67 - so over a 10% discount. Not sure what if anything significant has changed with NAV this week?

Warrants last traded at $0.035, so if going to be say 63c to exercise, then not that good of a deal when have another dividend feed on the head shares before warrant exercising in October.

[Toddy]

All quiet on the BRM thread......

Gap widening between share price and NAV - last weeks announcement NAV at $0.7578 and have traded this morning as low at $0.67 - so over a 10% discount. Not sure what if anything significant has changed with NAV this week?

Warrants last traded at $0.035, so if going to be say 63c to exercise, then not that good of a deal when have another dividend feed on the head shares before warrant exercising in October.

Not so quiet on the other Channel.

NAV moving up nicely nudging 79 cents.

Warrants will fire up over the next few days as the leverage to buy heads at 63 cents at the end of October is a very good deal.

[Toddy]

Lets see if the tech sector stocks can light a fire under the Barramundi portfolio today on the ASX.