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Looks like IFT are using some of that IFTWB cash they just received to buy back some of the newly issued shares.
750,000 @ 1.61 on the 26th http://www.nzx.com/markets/NZSX/IFT/.../Share-Buyback
350,000 @ 1.65 on the 25th http://www.nzx.com/markets/NZSX/IFT/.../Share-Buyback
750,000 @ 1.67 on the 21st http://www.nzx.com/markets/NZSX/IFT/.../Share-Buyback
Probably not a bad idea considering they're buying them back for less than the cash they received ($1.67 = $0.55 + $1.12) when they issued them.
It also means the directors believe the best thing they can do with the company's money is to reinvest back into the company. Surely a good thing.
Major shareholder Utilico increasing their stake
http://www.nzx.com/markets/NZSX/IFT/...tilico-Limited
A number of directors also increasing their shareholdings
http://www.nzx.com/markets/NZSX/IFT/...sure-Tim-Brown
http://www.nzx.com/markets/NZSX/IFT/...rs-Kevin-Baker
http://www.nzx.com/markets/NZSX/IFT/...Lloyd-Morrison
http://www.nzx.com/markets/NZSX/IFT/...e-David-Newman
http://www.nzx.com/markets/NZSX/IFT/...re-Kevin-Baker
All good signs IMO
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