Just having a little scan through of MAT annual report (pg 27) and am a little confused as to why MAT sold but then rebought some PAN shares ?
"The company sold 970379 shares in PAN after end of financial year for gross proceeds of $836420 . The company also acquired 648298 PAN shares for a gross total of $557570"
i think that means they got about 86c a share for those sold and then rebought at 86c a share ?????
PAN currently trading at about 55c share
648298 x .55 is $306664
$557570 -$306664 = approx $250K paper loss on new shares bought.
Why did MAT rebuy PAN shares?
Maybe a rational reason _ comments please
MAT Price at posting:
17.5¢ Sentiment: None Disclosure: Held
