They have said they will hold as treasury stock, not cancel them.
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Another thought.......who will they buy the shares from ? Major holder is the government. 50:50 government and market ? Or just market ? If just market....then ratio of Government owned shares to public will alter. How would they determine price to buy from Government ?
It is an onmarket buy back so only from the Market, not the government I would have thought. Even if the Govt did sell, there is a market price.
I wonder what will happen if the Govt creaps up to say 55% due to the buy backs - will it offload onto the market or hold shoudl there be a future capital raising so that they can be diluted back down to 51%?
Maybe they can buy them back over time with this strategy ? :t_up:
Green Party co-leader Metiria Turei said five months after the listing of MRP shares, promising a golden opportunity for 'mum and dad' investors, the company was buying them back at a loss for investors.
"If Mighty River Power has $50m laying around, its priority should be cutting electricity prices for families and businesses."
You can not be serious. Shows how economically inept the greens really are.
Let's hope she doesn't notice AirNZ's $1B cash surplus lying around!
Not really Air NZ cash that $1b .... most of it prepaid travel .... still have to spend a lot of that cash to fly the travellers to wherever
Zonks ago AIR raved about that $1b we have in the bank ... we wont go broke and all that stuff .... then the govt bailed them out eh
Ah so --- does AIR make most of its money from investing all this money then?