Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
If that is the case then that is very irresponsible on their brokers part. Considering closing price yesterday and past days trading. I doubt that was TRA buyback but if it is well the mind boggles.
If that is the case then that is very irresponsible on their brokers part. Considering closing price yesterday and past days trading. I doubt that was TRA buyback but if it is well the mind boggles.
Agree there mate
Who on this thread is going to keep a running total of what they buy and how much for ...we will get announcements daily (if they buy)
Too much hype around this buyback methinks ....wonder what this means — • Turners will adhere to an established set of principles agreed with its broker that seek to ensure that the buyback does not distort the market price for shares.
”When investors are euphoric, they are incapable of recognising euphoria itself “
Hi all Todd Hunter here....I think it is worth just clarifying the safeguard guidelines that we adhere to in regard to the Buyback...there are no "tricks" going on.
Turners will only buy back Shares through NZX’s trading/order matching system and during normal trading hours (i.e. there will be no off-market transactions).
Shares will not be purchased at a price which is more than 10% above the average closing price for Shares on the NZSX over the previous five trading days.
Turners will not take part in the opening transaction on a trading day.
it is intended that the purchases by Turners over a one week period will not exceed 30% of the volume of Shares traded over that one week period.
The Management and Directors believe this is a good use of our capital at present, and based on the investor meetings I have had this week everyone agrees. You may also have noticed that our Chairman Grant Baker purchased 100,000 shares himself yesterday.
As an aside I am happy to arrange a conference call or meeting with Grant and myself for anyone who is interested in talking through the business or to answer any specific questions. todd.hunter@turners.co.nz
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