As a non-holder, I don't have any skin in this game. However I firmly believe this is a mis-allocation of company and shareholder funds. Buy-backs for LIC shares should only occur when the SP is trading at a material discount to the NTA (generally a 10% or greater discount). The NTA for NAC is currently trading at a small premium to NTA. Naos would better to invest spare cash in external companies as per their LIC mandate to increase the NTA. i.e. top up existing investments, or hold on to the cash to invest in new opportunities, or return the money to shareholders as franked dividends.
Otherwise what's the point? How does this benefit shareholders?
Btw. They tried this with NSC. Bought back 20% of the shares on issue. The SP is currently trading at close to 20 years lows. Would you call that adding value?
Please DYOR before investing.
As a non-holder, I don't have any skin in this game. However I...
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Last
47.5¢ |
Change
-0.015(3.06%) |
Mkt cap ! $21.03M | |||
| Open | High | Low | Value | Volume |
| 49.0¢ | 49.0¢ | 47.5¢ | $31.31K | 64.02K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4872 | 47.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 108598 | 2 |
View Market Depth
| Last trade - 10.06am 18/06/2024 (20 minute delay) ? |
| NAC (ASX) Chart |
