Thanks RupertBear.
A new definition for you.
"What is a long term share holding"?
"A short term one that did not work out right"!!!
Looks as though I will remain a long term shareholder.....lol.
I would be very surprised if they buy back that many shares. Quite often companies quote a higher number of shares to be acquired to give them 'head room' if required. FNZC will have certain instructions on how many to purchase and at what price (% above/below vwap or previous close) each day, to keep an 'orderly market'.
Liquidity isn't the best in TRA and following the buy back it will surely get worse.
I reckon the buy back will be good for the SP so I bought a few today. Good dividend feeding at this level. On a light hearted note anyone ever wondering why I chose Beagle as my user name might like to see how cunning and determined they are to get a feed. You might be surprised at their cunning. https://www.youtube.com/watch?v=KyQiPWufjwU
Besides that, Snoopy the other Beagle is into this and some of my other mates are too so what could possibly go wrong lol
I prefer to see share buy backs done from a position of strength, not as a tool used by a company to prop up its share price.
Will be interesting to see what the market makes of it. Does not change the fact there is no growth or that there are difficult trading conditions with tight margins.
Buying back shares because the company believes the current SP is below Intrinsic value is a good reason, besides it will get rid of a lot of reef fish and build a more solid shareholder base. PS- I hate those fishing days when your baits are being constantly stripped by small reefies.
New car sales still right up there, so is there a bit of a glut of used cars due to this (trade ins etc.) and/or are more people buying new rather than used.
There are plenty of small new cars around now ( with more safety gear/tech etc.) priced not much more than a good slightly bigger used car. May be the "second" car is smaller and new rather than 2nd hand
Plus seems to be a Used car yard popping up nearly every where there's a spare bit of dirt these days.
As an aside AutoSelect in Panmure Auckland has expanded to take over some of the old Moyes Holden yard.
Disc: Do not hold currently
Long term I can't see you going wrong at that price.
TRA - I think people are pricing it as a no growth company as though the current difficult trading conditions will exist permanently. I think that's as fundamentally erroneous as saying the Labour party who have seriously undermined business confidence will be in power permanently. I have some reservations about Grant Baker but I think Todd Hunter is doing a good job. PE is less than 9 and gross yield more than 9% with a $10m+ buyback coming. Hmmmm