The previous buyback would have expired. This is a new buyback, for twelve months beginning on 1st June.
Previous LSF buybacks were only applicable if there was a NTA-SP discount. The declared target was to push the SP up to within 10% of the NTA. At the discretion of the directors, shares then continued to be bought back even after the SP had come within 10% of the NTA, so it is possible that this new buyback might help to close the NTA-SP gap. Tomorrow's webinar will probably mention if there has been any change to the buyback strategy.
The operation of the buyback adds to the NTA, by the amount of the NTA-SP discount for each share bought back.
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$3.13 |
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---|---|---|
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2 | 4500 | 3.080 |
1 | 15000 | 3.070 |
2 | 13000 | 3.060 |
2 | 29000 | 3.050 |
Price($) | Vol. | No. |
---|---|---|
3.130 | 27257 | 2 |
3.140 | 10500 | 2 |
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