What happens to the shares they buy ? Are they retired ? Or can they be sold again should the money be needed in the future ? Or used for staff bonuses ?
They have said they will hold as treasury stock, not cancel them.
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%?
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.
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.
Green Party co-leader Metiria Turei said ... "If Mighty River Power has $50m laying around, its priority should be cutting electricity prices for families and businesses."
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